Public-Private Partnership in the Philippines
Mindful of the need to attract more investments, the Philippine Government launched its Public-Private Partnership Program (PPP), and made it a cornerstone of its development agenda. The PPP program is a key strategy to address government limitations in funding public infrastructure and services. The Philippine government sees the private sector as a partner for development. Private sector efficiencies in financing and project management can be tapped for the better implementation of government projects.
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The Public-Private Partneship program, or PPP, aims to ensure the cost-effective and expeditious implementation of government projects without compromising on transparency and accountability in all transactions. According to the Philippine government, there have been efforts to reform policies to assure prospective investors that all transactions and contracts are above-board and will be honored, resulting in a reasonable return on investment. In the Philippines, the among main policies that compose the current PPP legal and policy framework are the Build-Operate-Transfer (BOT) Law (Republic Act 7718). (click here to learn more about the Philippines' PPP policy). The PPP program not only covers national, but also local government projects. Both solicited and unsolicited project proposals are allowed by law, but the former is highly encouraged. For more information, investors can check out the Philippine PPP Center website. The list of live and prospective government projects for PPP financing are also available on the website. |