Salceda: House okays PPP Act to help close P7.3T infra investment gap
THE proposed Public-Private Partnership (PPP) Act passed by the lower house on third and final reading last week, will help close an infrastructure investment gap of P7.3 trillion.
House Ways and Means Chair Joey Sarte Salceda (Albay, 2nd district), principal sponsor of the measure, and technical working group chair of the PPP Act proposal, said “PPPs matter now more than ever.” The House voted 254 against three on the measure at the plenary on December 12.
Salceda said the PPP Act (HB6527) is meant to provide an enabling environment that would foster the growth of public-private partnerships for large infrastructure and other development projects.
The measure defines PPP as a “contractual arrangement between the implementing agency and the private sector proponent for the financing, designing, constructing, operating and maintaining, or any combination thereof, of infrastructure or development projects which are typically provided for by the public sector, where each party shares in the associated risks.”
The PPP Law is among the priority legislations announced by President Marcos during his first State of the Nation Address.
