NEDA releases updated guidelines on joint ventures 

The National Economic and Development Authority (NEDA) of the Philippines has released updated rules and guidelines for entering into joint-venture agreements between the government and private entities.

The amended guidelines took effect on April 25, 2023, and were approved by the NEDA Board on March 9, 2023. NEDA Secretary Arsenio Balisacan expressed confidence that the revised guidelines would address recurring issues that have been observed in past joint venture projects.

The changes aim to enhance competition for joint venture projects, improve the performance of private sector participants, and strengthen checks and balances to ensure the technical and financial viability of government projects.

According to Balisacan, the revisions to the guidelines were based on consultations with stakeholders and are part of the Marcos administration's efforts to improve the regulatory and policy environment for investments, particularly in public-private partnerships and infrastructure.

The updated rules are expected to promote greater transparency and accountability in joint venture projects and ensure that they are aligned with the government's overall development objectives.

These changes could help boost investor confidence and attract more private sector participation in the country's infrastructure projects.