The National Economic and Development Authority (NEDA) has stressed the importance of amending the implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law.
NEDA Deputy Director-General for Investment Programming Rolando Tungpalan said that amending the law’s IRR is an important step towards implementing the administration’s infrastructure development strategy, which is the public-private partnership (PPP).
“The BOT Law itself would have to be amended through legislation, but amending the IRR does not need to pass through Congress. In line with this, NEDA’s Infrastructure Committee (InfraCom), which is composed of several agencies, initiated a free discussion on how the IRR can be amended,” said Tungpalan.
The NEDA-InfraCom has previously conducted a series of discussions with development partners and private practitioners, including investors, bankers, and legal experts.
Among the proposed amendments include the addition of new PPP variants or contractual arrangements, such as joint ventures, concessions, and management contracts; restructuring and tightening of eligibility requirement for unsolicited proposals; and the composition of the approving body at the national and local levels.
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