SURIGAO del Sur 1st District Rep. Romeo Momo on Wednesday, December 6, 2023, lauded the passage of the Public-Private Partnership Code of the Philippines (PPP Code), hailing it as a “new dawn” in the relationship between the public and private sectors.
The lawmaker, who sponsored the bill in the plenary, thanked President Ferdinand Marcos Jr. for prioritizing the legislation.
“The passing of the PPP Code is a new dawn in our commitment to strengthen the relationship between the public and the private sectors. It shows our government’s dedication to improve the country’s infrastructure as it would pave the way for sustainable development and bolster the private sector’s indispensable role in bringing much-needed services to the people,” he said.
“I personally want to thank the President, who turned this landmark legislation into reality. It shows his understanding of the intricacies of the legal framework that encompasses our economic agendas,” Momo added.
The President was scheduled to lead the ceremonial signing of the two bills in Malacañang on Tuesday, Dec. 5, but had to cancel after testing positive to Covid-19 last night.
He instead signed the PPP Code and the Internet Transactions Act of 2023 in his residence in Bahay Pangulo.
“This is the right step forward as we can now work on and ensure that there is an exact system in place and at the same time, be able to hold our officials and staff accountable in our PPP projects,” Momo stressed.
The PPP Code, or “An Act Providing for the Public-Private Partnership of the Philippines”, signed as Republic Act No. 11966, will establish a stable and predictable environment for collaboration between the public and private sectors.
PPP programs hope to address the gaps in the country’s infrastructure systems and it will also free up much-needed resources when the private sector begins infusing their own money into projects.
It would enable the government to fund other equally important projects and initiatives and allow for a more systematic approach to national development.
By incorporating the best practices from implementing the Build-Operate-Transfer (BOT) Law, the PPP Code ensures that the country build better infrastructure projects and mitigate risks during their implementation.