A corner of Bangkok city (Photo: Bangkokpost) Bangkok (NNT/VNA)– The Thai Cabinet has endorsed a new draft Public-Private Partnership (PPP)Act in the hope of enhancing investment cooperation between the public andprivate sectors and bettering the lives of the Thai people.
Ekniti Nitithanprapas, Director-General of the Thai StateEnterprise Policy Office, revealed on April 3 that the Cabinet has resolved toapprove in principle the draft PPP Act during its latest meeting.
The new law has been adapted from the Private Investment in State UndertakingAct 2013. It will soon be forwarded to the Office of the Council of State forreview, prior to its submission to the National Legislative Assembly later on.
The bill mandates that the government draw up clear policiesfor infrastructure development and public service projects, with an emphasis tobe placed on joint investments between the public and private sectors that arebased on partnership.
Investment support will be provided for agencies involved in PPP projectswithin the framework of financial discipline while related requirements andprocedures will have to be concise and open to inspection.
If put into effect, the law is expected to entice moreprivate operators to invest in state infrastructure and public serviceprojects, enabling them to be undertaken more quickly and efficiently.
As a result, it will help elevate the potential and competitiveness of thecountry and ensure citizens have equal access to state services and betterquality of life.-VNA
VNA
