Bangladesh needs to raise investment in public-private partnership (PPP) projects to $12.5 billion a year from $3.5 billion now to overcome the challenges in construction of mega infrastructure, said the chief executive of the PPP Office yesterday.

Countries like Canada, the UK, the Philippines and India have taken a long time to make PPP projects a success, the official added.

“Bangladesh has progressed much to develop sustained PPP projects,” said Syed Afsor H Uddin, CEO of the PPP Office, at its 3rd round of discussion on PPP investment challenges at Lakeshore Hotel in Dhaka. Md Nojibur Rahman, chairman of the National Board of Revenue, said the finance minister is going to hold a meeting with the revenue officials today. Rahman said he would suggest raising allocation for PPP projects in the next national budget.

Many positive announcements may come for the implementation of the PPP projects in the next budget, Rahman added.

People may say that the government is slow in implementing the projects under the PPP initiative, but there are some challenges and weaknesses that need to be resolved first, said Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority.

Previous experiences should be used in project implementation, he added.

“We should have a very strong regulator and good transaction adviser for the PPP projects,” said Arastoo Khan, chairman of Islami Bank Bangladesh.

He said the governance issue is important in the implementation of the PPP projects.

Shamsul Alam, senior secretary to the Planning Commission, said strong and committed cadres are needed to give PPP a sustained momentum. 

Wendy Jo Werner, country manager of the International Finance Corporation, said the PPP office needs to develop the investment climate and it should emphasise the current projects.