The cabinet today approved in principle the draft of "The Bangladesh Public-Private Partnership (PPP) (amendment) Law, 2019" keeping a provision of undertaking and implementing the G2G (government to government) projects in the existing act.
The approval came from the weekly cabinet meeting held at Bangladesh Secretariat here this afternoon with Prime Minister Sheikh Hasina in the chair.
After the meeting, Cabinet Secretary Khandker Anwarul Islam briefed reporters.
He said "The Bangladesh Public-Private Partnership (PPP) Act, 2015" was framed to create a partnership with private sector by attracting local and foreign investment aimed at improving living standard of the people and expediting the country's socioeconomic progress as well as building infrastructures.
"Under the existing law there was no provision about the G2G schemes. But after the introduction of the PPP Act, 2015 the government took initiatives for execution of the PPP projects (G2G PPP) with various countries," the cabinet secretary said.
He said memorandums/cooperation of understanding have already been signed with Japan, Singapore, South Korea and Dubai under the "Policy for Implementing PPP Projects through Government to Government (G2G)" and other counties have also shown their interest to undertake schemes in this process.
"Against this backdrop, the sub-sections 2 (6 Ka), 13 (3) and 13 (4) have been incorporated in the Section 8 of the proposed law for inclusion of the issue of undertaking and implementation of the G2G projects," Islam said.