The supplemented rules are expected to open up new investment possibilities for private sector, as well as more prospects for public sector to exploit the unrecognized PPP opportunities. In many occasions, it might be the case that certain projects are not identified within the government budget, policies or development plan and, therefore, are not defined. Private sector can be a valuable contributor to overcome such shortcoming with its external approach to the issue, innovation and accumulated knowledge.
Proposals by private companies shall be submitted for projects that are completely new or which have been identified yet have no feasibility study prepared. In order to submit a proposal, private company will have to complete the special form approved by the Central Project Management Agency (Centrine Projektu Valdymo Agentura – CPVA). The following procedures for project implementation are governed by the existing applicable Investment law and Rules for the development and implementation of PPPs.
Tadas Jagminas, director of the Project Management Department of Invest Lithuania, expresses belief that legislative amendments will bring a range of benefits, "Discussions with private sector revealed a general support for such change, raising expectations for exciting new proposals. More importantly, proposals themselves would imply that there is a market demand for the specified projects, which is generally less clear, particularly with smaller scope projects. Consequently, this should attract more competition and offer a better value-for-money for public services."
The European Bank for Reconstruction and Development already recognizes Lithuania's regulatory and institutional framework for PPPs as following best international practices. With greater integration of private sector in projects' initiation, the attractiveness of Lithuanian PPPs for both local and foreign investors should increase even further.
