UK government has awarded a $2 million grant to assist Myanmar in the regulation and management of public-private partnerships (PPPs) in the industrial sector, according to the Asian Development Bank (ADB). Myanmar’s reform efforts have been undermined by a piecemeal approach to public-private partnerships that woul
UK government has awarded a $2 million grant to assist Myanmar in the regulation and management of public-private partnerships (PPPs) in the industrial sector, according to the Asian Development Bank (ADB).
Myanmar's reform efforts have been undermined by a piecemeal approach to public-private partnerships that would otherwise have yielded more benefits to the economy as a whole.
“Given the country's significant development needs, overwhelming private sector interest, and limited government capacity, PPPs have been evaluated on an ad hoc basis, making it difficult to determine if projects will achieve value for money.”
Initially, contractors will work with the government in the development of “fair, transparent, and balanced terms for private sector investments” that serve the public interest as well as training them to identify and develop mutually beneficial public-private partnerships, especially in large-scale power generation projects.
The goal of the Technical Assistance team is to create a sustainable regulatory system by 2018.
“The government urgently needs to take control of this process to be confident that PPPs meet the country's needs,” said Grant Hauber, a specialist with the ADB, which is administering the grant. “Private sector involvement in Myanmar's development can help promote rapid growth, but projects must be set up and managed properly to ensure they're successful.”