NextGen Day

Following the release of the updated 2022 implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) law last September 27, the National Economic and Development Authority (NEDA) is confident that more financially sound and well-structured public-private partnership (PPP) projects will be delivered.

The PPP projects resulting from the updated 2022 IRR of the BOT law, according to NEDA Secretary and BOT IRR Cabinet-level Committee chair Arsenio Balisacan, will further assist the government in fostering development across the country’s crucial sectors amid global headwinds and financial constraints.

In order to achieve the nation’s development objectives, Balisacan stated the new IRR aims to strike a balance between private and public interests.

The government would use PPP projects through the new IRR to address the persistent barriers to growth and job creation in industries including manufacturing, tourism, IT-BPOs (information technology and business process outsourcing), and the creative sector. Given our current financial situation, we will utilize private sector resources and technical know-how to bring innovations and modernize the nation’s essential infrastructure, including water, telecommunications, logistics, and transportation.

According to him, PPP would make it possible to invest in initiatives that link advanced and developing regions. This will increase the competitiveness of domestic companies and strengthen the positive feedback loop that attracts more investments across a range of industries.

He stated that by utilizing private resources, the public sector will be able to devote more funds to social safety programs that will increase the purchasing power of Filipino households.

The BOT IRR Committee oversaw stakeholder meetings and discussions to polish the proposed revisions under the direction of NEDA and the Department of Finance.

The Public-Private Partnership Center (PPPC), which serves as a member of the Committee and its secretariat, the Departments of Agriculture, Energy, Environment and Natural Resources, Information and Communications Technology, the Interior and Local Government, Public Works and Highways, Trade and Industry, and Transportation are also members of the Committee.

On October 12, 2022, the BOT law’s updated 2022 IRR will go into effect. On the NEDA and PPPC websites, interested parties can access the updated IRR.

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