Public-Private Partnerships: what should be changed to allow for real projects instead of fiction?

Public-Private Partnerships: what should be changed to allow for real projects instead of fiction?

On June 4, 2013 bpv GRIGORESCU STEFANICA (bpvGS) organised a press conference on the topic “Public-Private Partnerships: what should be changed to allow for real projects instead of fiction?” The conference was attended by over 20 journalists from the most prominent financial and business newspapers and magazines who have given the event extensive media coverage. This interest was evidence of the publicly perceived need for Romania to make speedy progress in unlocking the public-private partnerships in the effort to revitalise the country’s economic development.

Joining the debate from bpvGS, we had Catalin Grigorescu (Managing Partner), Daniel Stefanica (Partner) and Nicolae Ursu (Senior Associate), specialising in projects, project financing and PPPs.

As part of the team that contributed to the proposals for amending the existing PPP regime, forwarded to the Government by AmCham, the lawyers at bpvGS challenged the journalists to an open and free-of-technical-jargon discussion about what should be done for a new PPP law that would help Romania develop complex projects under difficult financial conditions:

  • What should be included in the new law so that PPPs can offer development opportunities for the private and public players in Romania?
  • Which operators – public or private – would benefit from these changes?
  • What examples of good practices can we find from other European countries that would be adaptable to the Romanian landscape?
  • When will we be able to escape the last years’ PPP gridlock?
  • Which are the vulnerabilities and risks that might arise?

What the new PPP law will actually bring with it is still to be discovered.