Oliver 14 0 0 4 min to read

The government will boost the economy and add jobs through PPP initiatives.

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Beginning the following year, the Marcos government will concentrate on public-private partnerships (PPP) in order to increase the number of employment available to Filipinos and ultimately spur economic growth.

The Malacanang Palace released a statement on Wednesday stating that the administration of President Ferdinand R. Marcos Jr. “is eyeing to pursue public-private partnerships on infrastructure development and facilitate the development of local PPP projects in priority sectors to prop up the economy and create jobs.”

The National Economic and Development Authority (NEDA), specifically during the first half of the Marcos administration, listed the amendments to the Built-Operate-Transfer (BOT) Law’s implementing rules and regulations (IRR) as one of its accomplishments this year in its year-end report to the President.

The BOT Law’s IRR changes seek to strike a balance between the public interest and the private sector’s purpose of advancing the nation’s growth.

The BOT Law is currently being updated by either raising or removing the threshold for PPP projects to be reviewed by the Investment Coordination Committee (ICC) and clarifying how local government units (LGUs) can implement their PPPs. NEDA is also pushing for a PPP Act that aims to address ambiguities in the BOT Law.

The Palace noted that “this year, the Marcos administration will also carry out the programmatic Investment Coordination Committee review and programming of significant national projects.”

In addition to finalizing the Regional Development Strategy, Public Investment Program for 2023-2028, and Three-Year Rolling Infrastructure Plan 2024-2026, NEDA stated it will also launch the administration’s medium-term plan, the Philippine Development Plan 2023-2028.

Additionally, the organization stated that it aims to complete the registration of 92 million Filipinos aged 5 and older for the Philippine Identification System (PhilSys) next year, as well as the conduct of the 2022 Agriculture and Fisheries Census and the 2023 Family Income and Expenditure Survey.

The passage of the final 30 bills on the Legislative-Executive Development Advisory Council (LEDAC) Common Legislative Agenda based on prioritization agenda, as well as the adoption of the five-year Most Favoured Nation (MFN) Tariff Structure, are also on the government’s agenda for the coming year, according to Palace.

The Palace also took note of NEDA’s suggested actions to lessen the effects of inflation and guide the nation toward strong economic growth despite external and internal challenges.

The Philippines’ gross domestic product (GDP) increased by 7.6% in the third quarter of 2022, the first three months of the Marcos administration, increasing the year’s average economic growth from January to September to 7.7%.

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