National Economic and Development Authority Secretary Arsenio Balisacan expressed confidence that the amended guidelines and procedures for entering into joint-venture agreements between government and private entities would address “recurring issues” that were seen in previous undertakings.
Balisacan said Thursday NEDA released the amended guidelines which took effect on April 25, 2023. The NEDA Board approved the revised guidelines on March 9, 2023.
Balisacan said the amendments were 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 [joint venture] projects,”he said.
The revisions made to the guidelines benefitted from consultations with stakeholders and are part of the Marcos administration’s push for improvements in the regulatory and policy environment for investments, particularly those pertaining to public-private partnerships and infrastructure. Julito G. Rada