After the enactment of Republic Act 11595, or the Retail Trade Liberalization Act, the German-Philippine…
A business risk consulting executive is optimistic about the BOT Law modification.
A representative of a corporate risk and security consultancy firm is upbeat about the country’s Build-Operate-Transfer (BOT) Law modification and points to its advantages for the government’s effort to increase infrastructure expenditure.
The country’s existing BOT Law, according to Greg Wyatt, head of business intelligence at Philippine Strategic Associates (PSA), is not enticing to investors.
The Nordic Chamber of Commerce of the Philippines, Inc. (NordCham Philippines) on Wednesday presented a virtual briefing where he stated, “And the way that’s going to change is through the revisions to the Build-Operate-Transfer Law.”
Wyatt expressed his expectation that the revisions would be implemented during the present government because the Marcos administration had made this proposal one of its top goals.
Since the current administration seeks to strengthen public-private partnerships (PPPs) in the implementation of infrastructure projects, President Ferdinand Marcos Jr. has emphasized the necessity to reform the BOT Law.
The revisions, according to Marcos, are intended to foster a “more competitive and enabling environment” for PPP.
According to Wyatt, the government has frequently highlighted financial limitations as one of the obstacles to implementing new infrastructure projects, which is why it decided to use PPP.
He claimed that the current regulations are “not drafted in favor of investors” and that “I think the administration knows that the modifications (are) needed (for the policies) to be more competitive.”
The absence of provisions for international arbitration, according to Wyatt, is one problem with the current BOT Law.
“While it’s impossible to predict what will actually pass through the legislative process, the administration continues to support public-private partnerships. Their desire to increase public-private partnerships is strong. More competitors should play by the rules, he argued.
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