PPP is an important direction of development giving private sector representatives an opportunity to initiate projects. This and other issues were discussed at the meeting with Asian Strategy & Leadership Institute (ALSI) Chief Executive Officer Dr. Michael Yeoh’s and Senior Vice-President Mr. Max Say who visited PPP Development Center recently. ASLI is a leading private analytical center in Malaysia and enters world top 100 think tanks ranking.
As Dr. Michael Yeoh shared, in 1981 Malaysia began its privatization policy, and since 1990s PPP implementation has started. today, there is a PPP Unit supervised by Prime Minister, and Head of this unit is a very influential person in the business world. It depends on his decision whether or not the project will be implemented. However, though every businessman can initiate a project, not any project passes the PPP Unit assessment. Proposals for PPP projects are regularly submitted by the Economic Council to the ministry responsible for PPP implementation. Based on the decisions taken, PPP contracts are concluded. In Malaysia, there are two types of concession contracts: short-term ones concluded up to 6 years and long-term contracts (for large infrastructure projects) concluded from 6 to 20 years. According to Dr. Michael Yeoh, PPP helps to develop investment, infrastructure and innovation in Malaysia.
ASLI is working to improve Malaysia competitiveness and ASEAN regional integration, facilitating a free trade area agreement and Malaysia’s sustainable and inclusive development.
The conversation took place in a friendly atmosphere, and the agreement for further cooperation was reached. Thanks to the Embassy of the Republic of Kazakhstan in Malaysia for initiating the meeting.
Text Azamat Nurseitov
Translate Mahabbat Isabekova
Photo Damir Egizbayev