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Difficulties facing local construction industry
- Decline in private building projects
- Government’s tight budget control on
new public works
- Unemployment rate of the sector is
HOW CAN WE CAPITALISE ON THE CONCEPT OF PPP? Presented by: Ir Dr - - PowerPoint PPT Presentation
HOW CAN WE CAPITALISE ON THE CONCEPT OF PPP? Presented by: Ir Dr - - PowerPoint PPT Presentation
HOW CAN WE CAPITALISE ON THE CONCEPT OF PPP? Presented by: Ir Dr the Hon Raymond Ho Chung-tai, MBE, S B St J,JP Conference on Public Private Partnerships - Opportunities and Challenges Hong Kong Convention and Exhibition Centre 22
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SLIDE 3
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Public Private Partnerships
- Partnership between the public and
private sectors
- Involvement of private sector providers
to develop facilities and/or deliver services for the use of the public
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Advantages of PPPs
- Allow the government to concentrate on
its core competencies
- More efficient and effective allocation of
risks
- Offer innovative financing
- Provide the private sector with more
business opportunities etc
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Types of PPPs
- Joint ventures
- Partnership companies
- Partnership investments
- Franchises
- Private finance initiatives (PFIs)
- Design and build; design, build and
- perate; build, operate and transfer
- Privatisation and corporatisation
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Relevance of PFIs to HK
- Encourage private companies to initiate
more public works projects
- Promote more creative and innovative
projects with necessary incentives
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Conclusion
- PPPs provide the government with a
new approach to develop facilities and/or services
- Better delivery of public services and
more employment opportunities
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