Republic Act No. 11966, or the Public-Private Partnership (PPP) Code of the Philippines, was signed into law on 5 December 2023. Unifying the fragmented PPP legal frameworks in the Philippines under one governing law, this landmark legislation signals a new era of collaboration, leveraging the expertise and resources of the private sector to drive much-needed development across various sectors of the economy.
Crucially, the PPP Code seeks to create a conducive environment for private sector participation in PPP projects, providing clarity, transparency, and predictability in procurement processes, regulatory frameworks, and risk allocation mechanisms. As of 2 February 2024, the PPP Center has 117 projects worth PHP 2.5 trillion in the pipeline for undertaking between the government and private sector. Priority sectors include transportation, solid waste management, health, and water. By fostering a level playing field for all stakeholders, effective implementation of the law will attract greater investment and innovation, driving economic growth, and job creation in the archipelago.
Recognizing that successful enactment of the PPP Code requires concerted efforts and collaboration from both the public and private sectors, the European Chamber of Commerce of the Philippines (ECCP) organizes a Luncheon Meeting with PPP Center Executive Director Ma. Cynthia Hernandez. At the event, PPP Center Executive Director Ma. Cynthia Hernandez will provide updates on the Center's plans and priorities for 2024 as well as the newly enacted PPP Code of the Philippines and its Implementing Rules and Regulations (IRR). The luncheon will likewise provide an avenue to explore areas for cooperation with the private sector.
In close partnership with government, businesses, civil society, and academia, ECCP passionately works to enhance the business environment for both European and Filipino companies.