PRESIDENT Ferdinand R. Marcos Jr. signed the Public-Private Partnership Code of the Philippines (PPP Code) and the Internet Transactions Act of 2023 on Tuesday, while in isolation after testing positive for Covid-19.
The President was scheduled to lead the ceremonial signing of the two bills in Malacañang today but had to cancel the events after he tested positive for Covid 19 last night.
Instead, President Marcos signed the two landmark bills while in isolation in his residence in Bahay Pangulo. He said the two bills show the country’s commitment and readiness to accelerate its development and to embrace the digital economy.
The enactment of the PPP Code, or “An Act Providing for the Public-Private Partnership of the Philippines”, signed as Republic Act No. 11966, will establish a stable and predictable environment for collaboration between the public and private sectors to address the gaps in the infrastructure systems and also free up much-needed resources to enable the government to pursue other equally important projects and initiatives.
The PPP Code incorporates best practices from over three decades of experience in implementing the Build-Operate-Transfer (BOT) Law, ensuring that the country build better infrastructure projects and mitigate risks during their implementation.
On the other hand, the passage of the Internet Transactions Act of 2023, signed as Republic Act No. 11967, the people will be provided with the mechanisms to confidently embrace the digital economy.
The ITA, or “An Act Protecting Online Consumers and Merchants Engaged in Internet Transactions, Creating For This Purpose the Electronic Commerce Bureau, Appropriating Funds Therefor, and For Other Purposes”, highlights the government’s efforts to not only protect consumers and merchants, but also harness e-commerce as a tool for growth and development as it upholds fair business practices, fosters innovation, and institutes effective mechanisms for dispute resolution.
It also establishes the E-Commerce Bureau under the Department of Trade and Industry which will spearhead the implementation of the law, as well as the Electronic Commerce Act of 2000, and the Philippine E-Commerce Roadmap.
