According to the International Finance Corporation of the World Bank, Public-private partnerships (PPPs) are tools that help public sectors leverage the expertise and efficiency of the private sector, raise capital, and spur development. They also help allocate risk across the public and private sectors to where it can best be managed and ensure that resources are wisely distributed in addressing the most urgent development needs. PPPs may include procurement approaches under all forms of DBFOM (Design-Build-Finance-Operate-Maintain) such as DBO, DBFO, BOT, BOO, BOT or BOOT.
More and more governments and public organizations in the world, including Hong Kong, have used PPP approach to deliver large-scale, long-term public asset and services for the community. The Cross-Harbour Tunnel, for example, was procured via a 30-year private-sector franchised BOT model. In view of the growing international interest in PPP including projects under the Belt & Road Initiative of China, the Institution of Public Private Partnerships (IPPP) in Hong Kong has been established to provide a platform to share PPP knowledge with an aim to improve the efficiency and effectiveness of delivering PPP projects. The IPPP promotes the World Bank Group PPP model through the World Bank CP3P Certification Program and supports lectures on PPP.
Prof. Johri will share his insight into the evolving PPP approaches over the past decades and highlight the internationally recognized good practices in the preparation, procurement, and management of PPPs. |
