The new law, which will replace the Private Investment in State Undertakings Act, will expedite the joint investment process between the public and private sectors, empowered by the cabinet to tackle obstacles and any delays, said Sepo director-general Prapas Kong-Ied. The law hinges on using the private sector's expertise and innovation in joint investment projects and transferring knowledge to state agencies, as well as setting clear-cut policy for joint investment infrastructure and public service projects to comply with the legal process. Moreover, experts related to joint venture projects will be a part of the selection committee. If there are problems or obstructions delaying joint investment projects, state agencies can go to the PPP committee and the cabinet will set a time frame to address such problems. State agencies must compensate private contractors if they are not the cause of the problem.
Source: Bangkok Post February 11, 2019 21:56 UTC