Bongbong Marcos certifies as urgent bill strengthening public-private partnerships

“The bill, if enacted, will increase much-needed development across various sectors and accelerate the delivery of public services in order to spur economic growth and elevate millions from dire poverty,” he added.

SB No. 2233 is a consolidation of seven bills filed in the 19th Congress. If enacted, the bill will institutionalize PPPs and provide guidelines as to how implementing agencies can maximize the contracts and pick deals beneficial for the government.It also provides risk mitigation plans to ensure the credibility of the government’s PPP program.

“In order to manage the fiscal risks arising from PPP Projects, strengthen the credibility of the PPP program and Projects among the private sector, and to ensure the timely compliance with the contractual obligations of Implementing Agencies, PPP Projects undertaken through this Act shall require the adoption of 17 contract management and risk mitigation plans,” SB No. 2233 said.

“Such plans shall include the agreed project execution plan, all risks assumed by the government under the contract, risks assumed by the Implementing Agency, risk mitigating measures, estimated costs to be incurred, target timeline to have each measure in place, and the appropriate action plan by the Implementing Agency to manage each type of risk. All plans shall be kept up-to-date and be submitted to the PPP Center for monitoring,” it added.

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