Public-Private contracts total USD 4 027 million
Posted On 19 Jun 2017
Three ports, a road system, and a housing project are executed by public-private alliances (PPP). To that end, the Government signed contracts totaling USD 4 027 million, according to information available on the website of the former Coordinating Ministry of Production, Employment and Competitiveness and the Ministry of Transport and Public Works.
According to the aforementioned state agencies, five other projects are on the agenda. The government seeks to sign contracts with private companies for USD 5 917 million. Among them, there are three road corridors, the maintenance of a road and the operation of Puerto Providencia (Sucumbíos). To promote them, the previous government signed decrees and launched, in certain cases, public tenders that are in process.
On December 18, 2015, the Organic Law on Incentives for Public-Private Associations entered into force, which seeks to promote the development of works of public interest with private capital. This tool is key to the current administration, which announced that it will give greater prominence to the private sector as the engine of the economy. (I)