Draft bill on PPPs clears Cabinet

The draft bill sets out with greater clarity the basis for joint investments between the state and the private sector, officials say.
Finance Minister Apisak Tantivorawong said the legislation would be forwarded to the Council of the State for consideration.
It is the outcome of a revision of the Private Investments in State Undertakings Act, B.E. 2556 and sets out a clear government policy for public infrastructure and utilities with a focus on the PPP scheme, Apisak said.
The drafted bill also contains investment promotion measures for the PPP projects within the framework of the prevailing fiscal and monetary discipline, while exploiting the private sector’s expertise and innovation for project success and having clear, concise and traceable project processes, he said.
Ekniti Nitithanprapas, director-general of State Enterprise Policy Office (Sepo), said the draft bill would allow facilitation for both the public and private sectors with PPP promotional measures for easier, faster and more convenient procedures.
The Cabinet will be able to find solutions to project problems, obstacles or delays as a result of legal or regulatory requirements, Ekniti said.
Under the draft bill, PPP projects will be aligned with the international PPP standard with the establishment of a national infrastructure plan focusing on partnership-based investment in infrastructure and public utilities, he said.
PPP projects will be streamlined for concise and clear procedures and PPP fast-track measures will be set as a part of the preparation of PPP projects, while information disclosure will be more transparent as related parties will be allowed to participate more in the process, with market sounding at all stages, he said.
He said that once the legislation on PPPs came into force, it would be a key driver for public investment in infrastructure and public utilities, backed by the knowledge and innovative flair of the private sector.