The Build-Operate-Transfer (BOT) Implementing Rules and Regulations (IRR) Committee has approved the amendments to the 2022 IRR of the BOT Law in a meeting at the Department of Finance in Manila, Philippines.

The purpose of the amendments to the IRR is for the Philippine government to leverage PPPs and improve the process of channeling resources to other important areas of development and governance, including social safety nets. The proposed BOT Law IRR update aims to find the optimal balance of risk sharing between the government and the private sector. The amendments should also ensure transparency and accountability in the implementation of infrastructure projects.

The BOT-IRR Committee plans to publish the amendments to the 2022 IRR of the BOT Law by September 26 and put the measure into effect by October 11, 2022. An amended copy of the law must be posted on the National Economic and Development Authority (NEDA), the Department of Finance (DOF) and the Public-Private Partnership (PPP) Center in the Philippines websites by September 19, 2022.