The 2023 revised guidelines and procedures for entering into joint venture (JV) agreements between government and private entities is now in effect, the National Economic and Development Authority (NEDA) said in a statement yesterday.
“The amendments have been designed to enhance competition for projects under joint ventures, enhance the performance of private sector participants, and strengthen checks and balances to ensure the technical and financial viability of government projects. These changes aim to address recurring issues that have been observed in past JV projects,” NEDA Secretary Arsenio Balisacan said.
The NEDA Board granted approval of the revised guidelines on March 9, 2023. The guidelines came into effect on April 25.
The revisions made to the guidelines benefitted from consultations with stakeholders and are part of the administration’s push for improvements in the regulatory and policy environment for investments, particularly those pertaining to public-private partnerships (PPP) and infrastructure, NEDA said.
The provisions in the revised guidelines are aligned with the amended Implementing Rules and Regulations of the Build-Operate-Transfer (BOT) Law and the proposed amendments to the BOT Law or PPP Act.
The amendments include safeguard provisions aimed at promoting the pooling of resources and expertise between government and private entities through JVs as a viable, efficient and practical alternative for achieving the development goals of the government.
