Effective December 23, 2023, Republic Act No. 11966, known as the Public-Private Partnership (PPP) Code of the Philippines, has come into force. This significant legislation harmonizes the previously fragmented PPP legal frameworks in the country under a unified governing law.
As stipulated by the law, the PPP Governing Board (PPPGB) will act as the Implementing Rules and Regulations (IRR) Committee, with the responsibility of issuing the Code’s IRR within 90 calendar days from its implementation.
In anticipation of the IRR issuance, the PPPGB, led by NEDA Secretary Arsenio M. Balisacan, has proactively approved interim guidelines on December 21, 2023. These guidelines aim to provide crucial direction to stakeholders, preventing delays in ongoing PPP projects resulting from the enactment of the new legislation.
The interim guidelines bring clarity to the applicable rules for projects post the PPP Code’s effectiveness but preceding the promulgation of the IRR. They will remain in effect until replaced by subsequent interim guidelines or upon the IRR’s implementation.
The PPP Code of the Philippines, signed into law on December 5, 2023, and published in the Daily Tribune newspaper on December 8, 2023, signifies a significant step toward streamlining PPP frameworks in the country.
Stakeholders and interested parties can access the interim guidelines through this link: https://bit.ly/PPPCodeInterimGuidelines.
Source: https://ppp.gov.ph/press_releases/ppp-code-takes-effect-pppgb-publishes-interim-guidelines/