Singapore

Singapore

With a well-established legal system, supportive banking sector and increasing body of experts familiar with PPPs, Singapore seeks to become a regional centre of expertise and financing for PPPs.

Infrastructure procurement: The Singaporean Government introduced PPPs in order to achieve better value for money in the delivery of public services, though enhanced effectiveness and efficiency in the delivery of non-core governmental services. While Government-linked Companies (GLCs) have long played a key role in the development of infrastructure, the role of the private sector increased through partnership arrangements with GLCs.

PPP projects: The PPP concept was first brought to Singapore in 2003 when the first PPP contract was awarded by the Public Utilities Board (PUB) for a desalination plant. The first genuine availability-based social infrastructure PPP was ITE College West (2008). Despite the favourable legal environment, only a small number of PPP projects have been implemented so far, in a number of sectors including education, leisure, water and waste. All have been conducted either on a Design Build Finance Operate (DBFO) basis or a Design Build Own Operate (DBOO) basis.

Overview of Public Interventions
Subsidies & Guarantees
Subsidies Limited public support available for private investors.
Infrastructure Tax Incentives No specific policies are in place to provide tax incentives for PPP projects, however Singapore offers tax incentives to support the country’s economic and industrial development as a whole. The main incentives, stated in the Income Tax Act and Economic Extension Incentives Legislation, include pioneer incentives, investment allowances and development and expansion incentives.
Grants/Soft Loans
Viability Gap Funding (VGF) No VGF currently in place.
Financing Clifford Capital is a specialist finance company established with the support of the Government of Singapore. It assists companies with a meaningful presence in Singapore in their investments or exports overseas, in order to capture business opportunities around the world. It is focused primarily on providing project finance, asset-backed and other structured debt financing solutions to companies in the infrastructure and offshore marine sectors.


Contact:
Clifford Capital Pte Ltd
Marina Bay Financial Centre Tower 3
#17-03, 12 Marina Boulevard
Singapore 018982
T: +65 3157 8911
E: enquiry@cliffordcap.sg
W: www.cliffordcap.sg

Other Public Support
Land Acquisition Support Land can be acquired through a lease contract and freehold which includes Grant in Fee Simple (GFS) and Statuary Land Grant (SLG). The Singapore Land Authority can provide land to private investors through a sub-lease contract.
Project Development Fund (PDF) No PDF currently in place.