00:00 The implementing rules and regulations of the Public-Private Partnership Code were signed,
00:07 which will further strengthen the cooperation of the public and private sectors,
00:12 especially in the development of the country's economy.
00:16 The IRR aims to strengthen the PPP in the country
00:22 through a legal framework for all projects under it at the national and local level.
00:30 It will also strengthen the economy and speed up the delivery of affordable,
00:36 accessible and efficient public services.
00:40 According to NEDA Secretary Arsenio Balisacan,
00:43 the government will have more projects under the PPP program after it is approved.
00:52 This will pave the way for the government to maintain its commitment
00:57 to push for infrastructure projects under the Build Better More
01:03 for social and economic transformation.
01:05 The PPP Code's IRR will be effective 15 days after it is approved
01:12 in the Official Gazette on April 6.
01:15 It's the only way or one of the best ways we can push forward our infrastructure
01:23 and socio-economic transformation as fast as we can.
01:30 And so we really look forward to getting this law implemented quickly
01:36 and the private sector to come in forward.
01:40 I hope that, and we hope that we have accommodated the concerns of the private sector
01:47 in getting more involved with the infrastructure development of the country.
01:54 We are optimistic that this updated policy framework
01:57 will strengthen the country's investment ecosystem,
02:01 fostering stability and predictability for collaboration
02:05 on high-impact infrastructure projects.
02:08 (upbeat music)
