A Department of Finance policy to encourage infrastructure proposals from the private sector has received 27 submissions in its first year.
Launched in April 2019, the Market-led Proposals policy (MLP) was established to unlock unsolicited proposals from the private sector that offered the State Government innovative solutions and opportunities.
Minister for Finance, Ben Wyatt said the policy was designed on the principle of continuous improvement and included a first anniversary review.
“Based on industry feedback, key updates were now in effect for the second year of the policy,” Mr Wyatt said.
He said these included providing clearer guidance on the justification for exclusive negotiations; introducing a first mover advantage to provide incentives and reward good ideas; streamlining processes by reducing the total number of stages from four to three and committing to stage one completion within 99 business days.
Mr Wyatt said the policy updates would not disadvantage any proposals currently under consideration.
“We have listened to industry and believe these policy updates provide increased incentives for industry to present innovative proposals whilst maintaining the highest levels of probity,” the Minister said.
He said processes had been streamlined to allow the Government to collaborate with industry and understand the value of their proposals in a more timely manner.
