Marking a shift from the ad hoc approval of previous governments, the policy sets out guidelines on the acceptance of unsolicited proposals, coupled with clauses on transparency and accountability in the procurement process.
Deputy Prime Minister K. Peter Turnquest said that meeting the country’s “infrastructure needs is beyond the fiscal capacity of the government alone, given the geographic dispersion of the islands, coupled with low population densities of the Family Islands and higher than average infrastructure costs,” adding that “these factors create particular challenges with regard to policy, management and maintenance of public infrastructure”.
In order to oversee P3 procurement, the government intends to establish a steering committee, with a team in the Ministry of Finance to be designated as a P3 operational unit expected to act as secretariat of the committee.
The policy also details specifications on project identification and screening, business case analysis, transaction implementation and contract management.
P3s will be used to develop new assets and services primarily in seven economic sectors:
- Electricity generation and distribution, including the development of renewable energy sources in the Family Islands;
- Ports;
- Airports;
- Roads and bridges (i.e. toll bridges and roads);
- Information and communications technology;
- Urban renewal;
- Government buildings and facilities with independent income generation.