The Ministry of Economy and Finance held here on Tuesday the Second Dissemination Workshop on “Law on Public-Private Partnerships and Standard Operating Procedures for Public-Private Partnerships Projects” aimed at providing a deeper understanding for the establishment and development of PPP Projects within Cambodia.
The workshop was chaired by H.E. Dr. Phan Phalla, Secretary of State at the Ministry of Economy and Finance with around 160 participants from relevant ministries and institutions, development partners, financial institutions, consulting firms, law firms, insurance companies and other representatives of the private sector.
H.E. Dr. Phan Phalla said that the dissemination workshop provided a deeper understanding for the establishment and development of PPP Projects within Cambodia by prescribing competent institutions and detail procedures such as project identification and selection, project preparation and appraisal, selection of private partner and consultants, contract management and financial support mechanism, incentives for PPP projects, and project monitoring to effectively manage and implement the PPP projects.
The Law on Public-Private Partnerships was enacted on Nov. 18, 2021 to replace the 2007 Law on Concession.
The PPP Law applies to all qualified projects dealing with the development of public infrastructures and public services in strategic sectors namely transportation, digital and telecommunications, energy, environment, social affairs, science, agriculture, etc.
Under the PPP Law, the selected private partner may sustain the approved project by obtaining a Favorable Tax Regime, Security Rights over properties of the projects, as well as a Guarantee by the Government to underwrite on any contracts to advance the projects such as the guarantee on Credit Facility with potential Lenders.
Source: Agence Kampuchea Presse