PPP key to realizing vision 2021 development goals
Posting Date: 1 January, 2013
The Public Private Partnership (PPP) Office and the Board of Investment organized the “PPP Global Investors' Forum: Bangladesh 2012”, on 7-8 December at the Ruposhi Bangla Hotel, Dhaka. Her Excellency Sheikh Hasina, Hon'ble Prime Minister inaugurated the 2 day event as the Chief Guest, and Mr Abul Maal Abdul Muhith, Hon'ble Minister of Finance and Dr Dipu Moni, Hon'ble Minister of Foreign Affairs attended as Special Guests.
The Hon'ble Prime Minister, reinforcing her government's commitment to the PPP program, announced that a PPP law was being enacted and welcomed investors and development agencies to work in partnership with government to deliver public service infrastructure.
The PPP Forum, the first of its kind in Bangladesh, provided a unique opportunity for local and international private investors, sponsors and financiers and public officials to learn at firsthand how Bangladesh had prioritized PPPs as key to delivering increased investment in infrastructure and public services and committed to the implementation of a revitalized PPP Program based on best international practice, backed by robust and transparent policies and supported by multilateral partners, the Asian Development Bank and the World Bank.
The Forum generated huge private sector interest and over 700 local and foreign investors, sponsors, financiers, advisors, lawyers, leading business houses and public sector officials participated in the 2 day forum, with private sector representatives attending from countries such as India, Sri Lanka, Malaysia, Korea, Japan, UAE, Russia, Germany, France, the UK and others.
Participants at the Forum were provided with an update on the PPP readiness of Bangladesh, this focused on:
• Demonstrating how best international practice had been applied in the PPP framework
• Showcasing the enabling environment created to protect and incentivize PPP investors.
• Introducing the financing vehicles and supports available to help realize investments.
• Highlighting the investor friendly environment the Government has developed.
• Unveiling the pipeline of opportunities for PPP investors covering critical sectors.
• Providing a forum for private sector sponsors, investors and financiers to meet key public sector stakeholders in Bangladesh's PPP future.
Global Leader of Capital Projects & Infrastructure, PwC
Chairman of KPMG's Global Infrastructure Practice
Michael W. Cooper
Director of Infrastructure for Asia Pacific, HSBC
John Grant Hauber
Principal Public Private Partnership Specialist, Asian Development Bank
Senior Private Sector Development Specialist, World Bank
Distinguished speakers at the event included:
• PPP Infrastructure Global Experts such as Richard Abadie, Global Head of PPP Advisory, PwC; James Stewart, Chairman of KPMG's Global Infrastructure Practice; Michael W. Cooper, Director of Infrastructure for Asia Pacific, HSBC.
• Country leads and experts from our multilateral partners such as Islamic Development Bank, IFC, Asian Development Bank and the World Bank.
• Leading investors and practitioners from business, banking and legal sectors
• Senior public sector officials
In his opening remarks for the Plenary Session, the Principal Secretary to the Hon'ble Prime Minister stated that “This event is unique in bringing together the public sector, the private sector and our development partners working together for the development of much needed infrastructure in our country. Today is the beginning of our partnership, and I expect this partnership to be formalized and strengthened through implementing a number of PPP projects across a range of different sectors”.
The CEO of the PPP Office, in his opening address stated that “This is a very exciting time for the PPP program. The pace of delivery has been accelerating. Private sector interest and participation is enhancing. Support from our multilateral partners is multiplying. Our first few projects will start to deliver from early next year. Our pipeline is constantly growing. I can see that we are on the right track in realising the step change set out in our Vision 2021.”
Dr S. A. Samad, the Executive Chairman of Board of Investment (BoI), Prime Minister's Office, in his speech highlighted the contribution of the private sector in Bangladesh's solid track record of growth and emphasised the need to build on this partnership through PPPs to deliver increased investment and bring enhanced rates of growth and prosperity to the country.
The event concluded with Dr. Tawfiq-E-Elahi, BB, Energy Advisor to the Hon. Prime Minister attending as Chief Guest and Dr. S. A. Samad, Executive Chairman, BoI attending as Chairperson in the Closing Session. The Chief Guest noted the huge participation and interest shown by the private sector and especially highlighted the success of the event in obtaining a USD1 billion commitment from various multilateral agencies for supporting the PPP program.