Seychelles launches national Public Private Partnership policy
March 31, 2016
|Seychelles Finance Minister Jean-Paul Adam speaks at the launch of the PPP policy.
The Seychelles Government has launched a national Public Private Partnership (PPP) policy with the aim of increasing private sector participation in the provision of public infrastructure and services in the country. The policy provides a framework for Government and the private sector to interact in partnership arrangements that are mutually beneficial to both sides.
The policy was launched at a Public Private Dialogue event which brought together Government officials and the Seychelles private sector to discuss the new policy. The event provided a platform for both sides to discuss the opportunities and expectations that the policy presents.
The event was attended by the Minister of Finance, Trade and Blue Economy, Mr. Jean-Paul Adam, the Minister of Investment, Entrepreneurship Development and Business Innovation, Mr. Michael Benstrong, as well as ICF and the Africa Development Bank who are the funding partners who supported the set-up of the PPP policy.
Speaking during the launch, Finance Minister Jean-Paul Adam, said, “Government is entering into PPP collaborations because it is looking to provide a superior quality of services as well as and cost savings to tax payers and consumers of these services.”
Various Government ministries highlighted a sample of initiatives that they have identified as good potentials for PPP collaboration with the private sector. These include the development of residential estates and construction of sports facilities.
Investment Minister Michael Benstrong reiterated that there were many opportunities for private sector participation in Seychelles. “The new policy will help encourage enterprise development and encourage small businesses to flourish,” he said.
Speaking at the event, ICF CEO, William Asiko, commended Seychelles for taking this step, saying, “Public Private Partnerships enable governments to mobilize much needed resources and share risks with the private sector, making infrastructure investments more manageable for government.”
During the event, participants from the private sector welcomed the new PPP policy and expressed their interest in collaborating with government. They encouraged the Government to create a portal that would provide adequate information to the private sector on all the potential PPP projects that are available. They placed a strong emphasis on transparency to ensure that all private sector entities are treated with the same level of fairness when being considered for PPP collaborations.
The Seychelles Chamber of Commerce cautioned on the need to look at the country’s absorptive capacity in order to prioritize projects properly. Bank representatives who attended the event also expressed their excitement and indicated their willingness to introduce new financial products to support PPP project financing arrangements.
The Government of Seychelles has entered into PPP arrangements in the past but with this new policy in place, Government ministries and institutions now have a guiding framework to make the process much smoother, easier and less risky. Over 60 participants attended the event.