Is our construction industry ready for Public-Private Partnership (PPP) projects? How can the local industry prepare itself for PPP?
In general, firms established in Singapore already have the capability in various aspects of PPP. There are firms offering multi-disciplinary services. Some companies have built up experience in design-and-build (D&B), build-operate-transfer (BOT) or similar arrangements locally or overseas. Some have engaged in new businesses such as property development and maintenance works. The private sector can build up good capability for PPP projects with time and experience. Many joint ventures have been formed in the industry for major construction projects and we can expect similar joint ventures to be formed for PPP to incorporate all sectors of the industry from the developer to the consultant, the contractor and the facilities management professional.
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