The National Economic and Development Authority (NEDA) is confident that more financially viable and well-structured Public-Private Partnership (PPP) projects will be delivered.

This was followed by the publication of the 2022 Implementing Rules and Regulations (IRR) of the Build-Operate-Transfer (BOT) Law last September 27, 2022. 

In a statement, NEDA Secretary and BOT IRR Cabinet-level Committee Chair Arsenio Balisacan said that the PPP projects arising from the revised 2022 IRR of the BOT law would further aid the government in fostering development across the country's critical sectors amidst global headwinds and fiscal constraints.

He added that the new IRR seeks to balance private and public interests toward meeting the country's development goals.  

"Through the new IRR, the government will utilize PPP projects to address the binding constraints to growth and job creation in sectors such as manufacturing, tourism, IT-BPOs, and the creative industry," Balisacan said.

"Considering our current fiscal position, private sector resources and technical expertise will be harnessed to introduce innovations and upgrade the country's vital infrastructure such as logistics, transportation, telecommunications, and water," he added. 

He added that PPP would enable investment in projects connecting leading and lagging regions, improving domestic industries' competitiveness and reinforcing the virtuous cycle of attracting even more investments in various sectors. 

Harnessing private resources will also allow the public sector to allocate more public resources for social protection measures that will bolster the purchasing power of Filipino families, Balisacan said.