Government exploring regulatory framework for public-private partnerships

Government working to develop a regulatory framework for public-private partnerships, tailored to Malta’s unique needs

By: maltatoday.com

Nov 20 2024
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Government exploring regulato

The government is working to develop a regulatory framework for public-private partnerships, tailored to Malta’s unique needs.

Studies on international and European models are currently being carried out to identify best practices, and innovative approaches to drive projects that matter most to Malta’s economy and its people, “keeping in mind the principles of accountability, good governance, transparency, and effectiveness.” This was highlighted during the conference ‘A Vision for Malta’s Future – Explore PPPs Conference 2024’ which was held last week at Xara Lodge.

Malta Strategic Partnership Projects Ltd. is a rebrand of government entity Projects Malta.

Minister Schembri highlighted the importance of PPPs in achieving the targets of Malta Vision 2050, a long-term strategy focused on building a sustainable, innovative, and inclusive economy.

“Our goal is to ensure that the way we implement projects aligns with the aims of Malta Vision 2050, including advancing the use of public-private partnerships—a crucial tool for enabling transformative projects that serve society,” he said.

He emphasised that the Malta Strategic Partnership Projects Ltd. (MSPP) plays a pivotal role in fostering partnerships for large-scale projects, ensuring efficiency while aligning with the public interest. “These partnerships aim to deliver economic, social, and environmental benefits, creating spaces that positively impact communities.”

Opening the event, MSPP CEO Marisa Marmara emphasized the importance of fostering sustainable and innovative partnerships that effectively share and manage risks.

Marmara highlighted the ongoing efforts to strengthen collaboration between the public and private sectors, focusing on creating partnerships that are effective, sustainable, innovative, and long-term.

“I have always believed that this country cannot move forward if it relies solely on the government. The private sector plays a pivotal role in the advancement of our economy, and we are confident that you are eager to contribute,” she told attendees.

Among the international experts addressing the event were Ziad-Alexandre Hayek, President of the World Association of PPP Units & Professionals (WAPPP), Edward Farquharson, Principal Advisor to the European Investment Bank, diverse experts from the PPP world as well as financial and academic experts. They provided insights into best practices, how PPPs are evolving on an international and European level, lessons from successful PPP projects and financing options for PPP projects.

Closing the event, MSPP Chairman David Matrenza underscored the organisation’s role as a bridge between the public and private sectors. “MSPP will be a catalyst for fostering collaboration and promoting people-first PPP projects that deliver measurable value to communities,” he said.