MANILA, Philippines: President Ferdinand Marcos Jr. has signed into law two significant pieces of legislation that will drive the country’s development and embrace the digital economy. The Public-Private Partnership Code of the Philippines (PPP Code) and the Internet Transactions Act of 2023 were signed by the President while in isolation at his residence in Bahay Pangulo, after testing positive for Covid-19.
The ceremonial signing of the two laws, originally scheduled to take place in Malacañang, had to be canceled due to the President’s health condition, according to Presidential Communications Secretary Cheloy Garafil.
“President Marcos expressed that these two bills demonstrate the country’s commitment and preparedness to accelerate its development and embrace the digital economy,” said Garafil in a statement.
The Public-Private Partnership Code, also known as Republic Act (RA) 11966, aims to establish a stable and predictable environment for collaboration between the public and private sectors. By addressing the gaps in the country’s infrastructure systems, this law will free up much-needed resources to enable the government to pursue other essential projects and initiatives.
Building on over three decades of experience in implementing the Build-Operate-Transfer Law, the PPP Code incorporates best practices to ensure the construction of better infrastructure projects and mitigate risks during their implementation.
Meanwhile, the Internet Transactions Act of 2023, or RA 11967, is designed to provide people with the necessary tools to confidently embrace the digital economy. This legislation not only protects consumers and merchants but also promotes fair business practices, fosters innovation, and establishes effective dispute resolution systems.
The new law also establishes the E-Commerce Bureau under the Department of Trade and Industry. This bureau will play a pivotal role in implementing the Internet Transactions Act, as well as overseeing the Electronic Commerce Act of 2000 and the Philippine E-Commerce Roadmap.
With the enactment of the Internet Transactions Act, the Philippines aims to harness the power of e-commerce as a tool for growth and development. By providing mechanisms that instill confidence in online transactions, the country seeks to facilitate economic opportunities and foster a thriving digital ecosystem.
These two landmark pieces of legislation, signed into law by President Marcos, demonstrate the government’s commitment to accelerating development and embracing digital transformation. By strengthening collaboration between the public and private sectors and providing a conducive environment for digital commerce, the Philippines is positioning itself for a prosperous future.
Source: The Manila Times
