Fundamental Principles In Ppp Laws

Investment in infrastructure is, admittedly, one of the main forms of economic development. Traditionally, the Public Administration implements infrastructure projects committing taxpayers’ money to finance them. For the past decades, demand for infrastructure has been growing steadily, but public funds for current and future needs are limited and the public finances of many governments have increasingly reached a point where long-term borrowing is not a ready option. In a recent study, GI Hub estimated the cumulative ‘global infrastructure need’ from 2015 to 2040, and the ‘investment gap’ for the period. US$ 94 trillion would be needed in investment and the gap is US$ 15 trillion . This has led the government to accept the growing importance of the private sector participation in the financing and management of infrastructure projects, so it began seeking alternative methods of procurement. One method whose applicability is increasing is the use of public-private partnerships (PPPs) to finance and/or manage infrastructure projects. In this regard, well-prepared infrastructure projects can generate high social rate of returns and improves well-being, whereas inadequate infrastructure represents a barrier to growth and improved quality of life and can lead to unsustainable financial burdens for the government, especially in developing countries. Although not all infrastructure is suitable to follow the PPP route, those policy-makers that choose to shift from public infrastructure financing to private partner have to consider the nature and motivations of long-term investors and the generation of value for money as well, that is, to align the interests of both the public and private sectors. With the participation of a private partner in well-prepared investment projects, there may be larger investments and the population’s life quality improvement. Also, PPPs are a way to introduce private sector technology and innovation into providing better public services through innovative planning and design’ and ‘efficient project management. Building and maintaining infrastructure are essential for economic expansion and social development, if delivered efficiently and effectively, it can translate into economic growth. However, the world is not spending enough on infrastructure to catch up with technological changes, urbanization and shifting demographics. The Inter-American Bank (IDB) and the Global Infrastructure Hub (GIH) decided to analyze and carry out a research on the legal framework for PPPs in Latin America and the Caribbean Region to establish guidelines on PPP law leading practices.

The Model Legislative Provisions and the Legislative Guide on Public-Private Partnerships were prepared by the United Nations Commission on International Trade Law (UNCITRAL) and adopted at its fifty-second session (Vienna, 8-19 July 2019). In addition to representatives of member States of the Commission, representatives of many other States and of several international organizations, both intergovernmental and non-governmental, participated actively in the preparatory work. The Model Legislative Provisions translate into legislative language the advice given in the recommendations contained in the Legislative Guide. The Model Legislative Provisions are intended to assist in the establishment of a legislative framework favourable to public-private partnerships (PPPs). The Model Legislative Provisions follow the corresponding notes in the Legislative Guide, which offer an analytical introduction with references to financial, regulatory, legal, policy and other issues raised in the subject area. The user is advised to read the Model Legislative Provisions together with the Legislative Guide, which provide background information to enhance understanding of the legislative recommendations. The Model Legislative Provisions deal with matters that it is important to address in legislation specifically concerned with PPPs. They do not deal with other areas of law that, as discussed in the Legislative Guide, also have an impact on PPPs. Moreover, the successful implementation of PPPs typically requires various measures beyond the establishment of an appropriate legislative framework, such as adequate administrative structures and practices, organizational capability, technical expertise, appropriate human and financial resources and economic stability.

By merging public and private tangible and intangible capitals, Public Private Partnerships contracts (PPP) are fundamental to generate public value and to support economic and social development; in the aftermath of Covid-19 pandemic, they prove critical to pave the way for the recovery. This book is intended to support the co-evolution of the main public and private players involved in PPP contracts for infrastructure and service delivery, by providing principles, based on the academic and professional experience of the authors, that can be applied across sectors and jurisdictions. Drawing on the framework of public-private collaborations at macro, meso and micro level, this book provides a practical perspective on the most relevant legal, financial and contractual issues of PPP contracts for infrastructure and service delivery.

Introduction -- Legal framework -- Institutional framework -- Procuring and implementing PPP transactions -- Using public support for PPP projects -- Local currency finance

This report examines how to promote sustainable infrastructure investment. It discusses data needs for infrastructure investment and the current environment, social and governance (ESG) approaches before offering policy recommendations to help ensure that investors are better equipped to make investment decisions related to infrastructure assets.

Numerous developments across the world in recent years bear witness to States’ increasing skepticism about the benefits of international cooperation and the efficiency of international economic law understood as a multilateral set of rules equally binding on all States. This timely book reviews situations where this new economic nationalism may impact the way arbitration—in both commercial and investment disputes—is practiced. Distinguished international arbitrators and academic experts analyze a wide array of topics, covering a broad spectrum of juristic traditions, geographic areas, foreign investment protection laws, and dispute resolution mechanisms and issues. Topics covered include the following: evolution of the definitions of arbitrable standards; amendments to procedural rules; States’ policy choices as reflected in recent investment treaties; procedural trends to restrict access to investment arbitration; the effects of the Achmea decision in the European Union; growing use of the public policy exception; dispute settlement of public-private partnership agreements; and diversification of dispute resolution methods (e.g., business courts). An important feature of the book is the ability it offers to compare various contemporary transformations of dispute settlement mechanisms, with attention to developments in a number of jurisdictions including the United States, the European Union, China, Canada, Switzerland, Turkey, and the Latin American countries. With its comprehensive analysis of how economic nationalism may lead to limiting the jurisdictional, procedural, and substantive scope of arbitration, the authors underscore the crucial importance of a robust system of international arbitration of economic disputes to ensure a stable and secure world order. The global coverage of the contributions and the insightful views offered in them speak eloquently about their usefulness and outreach for arbitration practitioners and scholars, as well as for professionals involved in drafting policies for economic development or in the negotiation of investment agreements.

This book comprehensively covers the interplay between cultural and legal globalization and the impact this has on contract law, with a particular focus on state contracts within the MENA region. The book discusses the roles assumed by Supreme Courts in Egypt and MENA countries in creating unified principles of international contract law in states’ contracts which are consistent with international commercial contracts’ principles. It makes a powerful argument for further harmonization of contract law in the area, and how this can be achieved. The book forms a case study of how international harmonization can be achieved through a number of routes, such as codification, digitalization of processes and contracts, private-public arbitration, and further use of international instruments. It also considers the implications of comparative European law, convention law, and other legal domains, particularly international standards, on contract law in the MENA region. The book suggests how international legal standards can be integrated within contract law, and how a harmonious contract law framework can thus be achieved. Through analyzing ICSID case law, the book argues that unification of contract law principles in the MENA region is a considerable step towards achieving legitimate expectations of foreign investors. It argues, further, that global contract law is underway. The book will be is of interest to students and scholars in the field of international contract law, public law, and international law in Egypt and MENA countries.

Innovation in public procurement is essential for sustainable and inclusive growth in an increasingly globalized economy. To achieve that potential, both the promises and the perils of innovation must be investigated, including the risks and opportunities of joint procurement across borders in the European Union and the United States. This in-depth research investigates innovation in public procurement from three different perspectives. First, leading academics and practitioners assess the purchase of innovation, with a particular focus on urban public contracting in smart cities involving meta-infrastructures, public-private partnership arrangements and smart contracts. A second line of inquiry looks for ways to encourage innovative suppliers. Here, the collected authors draw on emerging lessons from the US and Europe, to explore both the costs and the benefits of spurring innovation through procurement. A third perspective looks to various innovations in the procurement process itself, with a focus on the effects of joint and cross-border procurement in the EU and US landscapes. The chapters review new technologies and platforms, the increasingly automated means of selecting suppliers, and the related efficiencies that “big data” can bring to public procurement. Expanding on research in the editors’ prior volume, Integrity and Efficiency in Sustainable Public Contracts: Balancing Corruption Concerns in Public Procurement Internationally (Bruylant 2014), this volume builds on a series of academic conferences and exchanges to address these issues from sophisticated academic, institutional and practical perspectives, and to point the way to future research on the contractual models that are emerging from new procurement technologies.