The Public-Private Partnership: An Essential Tool for Infrastructure Development
NESTOR NESTOR DICULESCU KINGSTON PETERSEN Attorneys & Counselors - 5 November 2008
Bucharest, November 4th, 2008 - AON Romania and Nestor Nestor Diculescu Kingston Petersen (NNDKP) hosted at the Parliament Palace the international conference "PPP to Develop Infrastructure in Romania".
Organized for the purpose of facilitating the exchange of information and experience between the public and private sector, the conference hosted debates and presentations that highlighted the prospects for the development of infrastructure in Romania and the alternatives offered by the public-private partnership in support thereof.
The discussion topics focused on: finding the best formula for partnerships among the public and private sector; defining an efficient selection procedure; the need for attracting financing from credit institutions, as well as the appropriate context for making such partnerships successful.
The conclusions drawn during this conference emphasized the fact that it takes time and a significant contribution from experienced industry leaders to balance and optimize the public need and the authority's restrictions on the one hand, and the interests and possibilities of investors on the other hand.
The conference also highlighted the need for a contractual and financial structure that would offer protection not only for the project, but also for the partners themselves. This is reflected in commitment and long-term mutual support despite substantial changes in the financial context."Romania finds itself today in the position of initiating its vital infrastructure projects, where the rise in the level of selectiveness of the financial institutions is directly proportional to the decrease in availability of private financing, to a level that is difficult to anticipate and even more difficult to meet, when the eligibility scrutiny will eliminate or determine the re-evaluation of projects", opines Adriana Gaspar, NNDKP Senior Partner.The discussions clearly reflect the feasibility of projects between the private and the public sector, but also the need to encourage communication between the two.
"This is why the consulting efforts between the public and the private sector, before the formal transition to creating partnerships, of contractual infrastructure frameworks, are not only justified but must also be intensified. The meetings organized by Aon and NNDKP are meant to facilitate contact and the exchange of ideas and experience," declared Jaap Veenebos, Managing Consultant with Aon Global Risk Consulting.
Eighty business people from Romania, Austria, Great Britain, Holland and the Czech Republic attended the event. Among the significant attendees were the Dutch ambassador, His Excellency Jaap L. Werner, who spoke about the experience of the Dutch government with respect to such projects, the representatives of Constanta Maritime Port Authority, of regional and city development agencies, as well as specialists from the private sector, who offered complementary expertise in all segments of a PPP project: design, construction, consultancy (in the technical, financial and legal areas), financing and refinancing, insurance, etc.This event was the second in a series created by the organizers intended to take place over an extended period of time for the purpose of identifying the opportunities for accomplishing publicprivate partnership projects in areas such as health and transportation infrastructure.
Tags: romania
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The industrial market in Romania is still characterized by over-supply, with modest take-up in Q1 2012
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