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BUSINESS • 24/11/2024 04:03 PM

PPP Eases Government Burden, Enhances Efficiency And Productivity

KUALA LUMPUR, Nov 24 (Bernama) -- Public-private partnerships (PPPs) can alleviate the government's burden in national development while enhancing efficiency, productivity and accelerating the country's growth.

Ministry of Works secretary-general Datuk Seri Azman Ibrahim highlighted that PPPs are involved in several key government projects, including the construction of highways and hospitals nationwide.

"Take the Pan Borneo Highway Project in Sarawak, for example, where public-private collaboration saved around 10 years in construction time and reduced costs by approximately RM157 million," he said during a forum on the MADANI government's Two-Year Programme (2TM) and the 2024 Public Service Reform National Convention.

Azman was a panellist in the forum titled "Public and Private Synergy," alongside MRL Sdn Bhd chief executive officer (CEO) Datuk Seri Darwis Abdul Razak and Tabung Haji (TH) CEO Syed Hamadah Syed Othman.

Meanwhile, Syed Hamadah said that with depositor funds exceeding RM90 billion, TH plays a crucial role in national development through PPP investments in key sectors.

"TH's main challenge lies in sourcing shariah-compliant investments, where contracts must adhere to the conditions set by TH’s shariah committee," he said.

"PPP offers numerous benefits to TH, particularly in providing sustainable returns for stakeholders. It requires clear financial structuring, especially for large investments," he added.

As a financial institution responsible for managing hajj savings, Syed Hamadah emphasised that TH must ensure that PPP investments do not compromise its primary objective of providing sustainable returns, while encouraging further deposits.

The private sector's involvement in national development drives economic growth, creates job opportunities, fosters innovation, and enables technology transfer, he noted.

"The government is responsible for setting policies and direction both in the short and long term, while the private sector mobilises the economy and key sectors to achieve economic and social development goals.

"The private sector must take on investment and business risks while generating sustainable returns," he added.

-- BERNAMA

 

 

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