Revamped Investment Ecosystem to Boost Investor Confidence, Says NEDA Secretary at Arangkada Philippines Forum
National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan highlighted ongoing efforts to overhaul the country’s investment ecosystem during the 12th Arangkada Philippines Forum on October 25, 2023. The revamp aims to enhance investor confidence, address private sector concerns, and create a more enabling policy environment for the rapid rollout of infrastructure projects.
In his keynote address, Secretary Balisacan shared the positive developments, stating, “I am pleased to share that we have revamped the governing frameworks for high-impact Public-Private Partnerships, or PPPs, in the investment ecosystem. The Revised 2022 Implementing Rules and Regulations (IRR) of the Build-Operate-Transfer (BOT) Law address various concerns from private-sector stakeholders regarding financial viability and implementation ambiguity.”
He emphasized that the upcoming amendment to the BOT Law, reflecting the features of the revised IRR, will be a landmark legislation for the Marcos Administration. It aims to harmonize legal, policy, and regulatory frameworks in developing, implementing, and monitoring PPP projects, with a focus on balancing public and private-sector objectives.
Secretary Balisacan highlighted the complementing measures, including the Investment Coordination Committee (ICC) Guidelines for PPP projects and the 2023 Revised NEDA Joint Venture guidelines. These measures are designed to ensure full private-sector participation in joint construction and operation of infrastructure projects.
He also revealed that the Office of the President is finalizing the Executive Order (EO) on Expediting the Processing of Documentary Requirements for Infrastructure Flagship Projects (IFPs). The EO aims to simplify requirements and clearances needed by implementing agencies for priority infrastructure projects.
“The government’s extensive ‘Build-Better-More’ program includes the 197 IFPs, a list of transformative and game-changing projects that will benefit from expedited approval processes and higher prioritization in government funding,” he said.
Secretary Balisacan informed that 88 of the 197 projects are in various stages of preparation, presenting opportunities for private-sector participation. “The Marcos Administration has been proactively addressing bottlenecks in the timely completion of these IFPs. We aim to substantially implement these projects, if not complete them, by 2028,” he added.
These initiatives, outlined in the Philippine Development Plan 2023-2028, are geared toward making the Philippines an attractive destination for investors, particularly in the infrastructure, technology, and energy sectors.
The 12th Arangkada Philippines Forum, organized by the Joint Foreign Chambers of the Philippines, convened experts and industry leaders to explore perspectives and facilitate the integration of sustainability principles into accelerating inclusive growth and development.
