PPP Act crucial to infra program’s sustainability

The Public-Private Partnership Center (PPPC) will continue to advocate the enactment of the PPP Act to amend the Build-Operate-Transfer (BOT) Law and sustain the momentum of the country’s PPP program after the Aquino administration ends.

‘We are hopeful that the PPP Act will be passed when Congress resumes its session in May. This priority bill will greatly benefit the Filipino people and it is needed to sustain the PPP Program,” PPP Center Executive Director Cosette V. Canilao said.

“The proposed law is crucial in institutionalizing the reforms that we have implemented since 2011. These reforms transformed our country into one of the most vibrant PPP markets in the world,” she added.

“What the PPP Act will do is actually fast-track the preparation, implementation and execution of projects,” Canilao said.

The Philippines now has a mature PPP program, considered the most improved in Asia-Pacific region, after various reforms were initiated by the current administration. Policy and regulatory improvements have transformed the Philippines from an emerging PPP market into a developed market.

Recently, different rating agencies such as South Korea’s NICE Investors Service and Moody’s attributed the Philippines’ growth to the expansion and acceleration of PPP projects implementation.

Last Dec. 16, President Aquino certified the urgent need to pass the PPP Act to expedite the implementation of vital infrastructure projects, provide relief to calamity-stricken areas, and sustain Philippine economic growth.

Congress adjourned on Feb. 3 without enacting the bill, despite strong support from the private sector. Business associations and independent groups advocate the approval of the PPP Act to fast-track Philippine infrastructure development and attract foreign and domestic investments that will sustain the country’s economic growth.