On 28 January 2019, the President’s Office of the Republic of Maldives published the Unsolicited Proposals Policy, which sets outs the procedures under which private sector parties can propose projects that align with the government’s strategic development goals.
The Unsolicited Proposals Policy, or USP Policy, enacted under the Public Finance Regulations, allows domestic and foreign private parties to submit proposals for development projects funded by foreign grants or concessional loan assistance or projects pursued by the government, provided they align with public-policy objectives set by the government. The policy sets procedures for the submission of these proposals while setting safeguards to ensure transparency and accountability.
According to the policy, the Ministry of Economic Development is in charge of spearheading the coordination and administration of the the procedures set out under the policy. A new committee, the Unsolicited Proposals Steering Committee, comprised of a senior representative from the Ministry of Finance, Ministry of Planning and Infrastructure, Ministry of Environment and the Ministry of Economic Development is required to review the USP’s submitted in accordance with this policy.
The proposals, which can be submitted by domestic and foreign parties, must comply with the submission requirements and controls set out in the USP Policy.
The policy came into effect on 28 January 2019.
(Photo credits: Nattu)