- February 12, 2019
- Posted by: admin
- Category: Daily News
- The Public-Private Partnership (PPP) Promotion Act, which already passed through the National Legislative Assembly (NLA) and waiting royal approval before being published in the Royal Gazette, stipulates that only basic infrastructure projects and public services can be invested in jointly by the public and private sectors, says the head of State Enterprise Policy Office (Sepo).
- The new law, which will replace the Private Investment in State Undertakings Act, will expedite the joint investment process between the public and private sectors, empowered by the cabinet to tackle obstacles and any delays, said Sepo director-general Prapas Kong-Ied.
- The law hinges on using the private sector’s expertise and innovation in joint investment projects and transferring knowledge to state agencies, as well as setting clear-cut policy for joint investment infrastructure and public service projects to comply with the legal process. It will also require chairmen of the Thai Chamber of Commerce, the Federation of Thai Industries and the Thai Bankers’ Association to be additional members of the Public-Private Partnership (PPP) committee to add a private sector angle in joint investment projects.
- The law sets regulations and processes that are concise, transparent and require better inspection, as well as market sounding from companies during the process. Should there be any problems or obstructions delaying joint investment projects, state agencies can go to the PPP committee and the cabinet will set a time frame to address such problems, Mr Prapas said.