Private sector stakeholders are advocating for revised merger notification requirements for public-private partnership (PPP) projects to expedite infrastructure development. This initiative aims to streamline processes for critical infrastructure while maintaining market competition.
Conducting focus group discussions among companies, regulators, and investment agencies, officials are addressing draft rules that will update the process for exempting PPP projects from mandatory notifications. The proposed revisions replace outdated guidelines outlined in prior memoranda.
The draft circular introduces streamlined review procedures and establishes five exemption grounds based on regional and economic development benchmarks. These exemptions apply to PPP projects that meet specific criteria, such as fostering new economic activity in underserved areas or aligning with national infrastructure priorities.
Under current regulations, PPP joint ventures require mandatory notification if they exceed P9.1 billion in party size or P3.8 billion in transaction size. The updated framework seeks to align evaluation timelines with the PPP Code and eliminate redundant documentation requirements.
Industry participants have requested expanded exemptions for PPPs in sectors like health, education, and affordable housing. They also emphasized the need for clearer definitions of “new economic activity” to qualify for exemptions, particularly in disadvantaged regions.
Proposed exemptions include projects that stimulate initial investments in new economic activity with minimal market distortion risks. Stakeholders further recommended a standardized documentation list and a joint circular to harmonize procedures between regulatory bodies.
Technical and legal recommendations from consultations will inform the final draft. These revisions aim to balance infrastructure efficiency with safeguards to prevent market concentration and ensure equitable growth.
Officials are finalizing the circular to reflect stakeholder input, with a focus on operational clarity and regulatory consistency across PPP initiatives.
