With 947 days until it hosts the 2014 World Cup, Pele says Brazil is not ready. The Brazilian soccer legend says 7 of the 12 host cities have not even commenced construction on much-needed infrastructure. When it comes to courting infrastructure investment, Brazil may want to take a page from Uruguay’s playbook.
From airports to highways Uruguay already has some quality infrastructure, but the Mujica administration is not content to rest on well-paved laurels. On the contrary, the Executive Branch wants to accelerate the pace of Public Private Participation (PPP) for infrastructure improvements in Uruguay, and a global road show begins next week to lure foreign investors with a package of federal government incentives and guarantees.
Under Uruguay’s new PPP program, private developers will be awarded contracts for the design, construction and operation of specific infrastructure projects like building child care facilities and widening Highways 21 and 24.
According to Sebastian Panzl at El Observador, new legislation lays the groundwork for the program which includes performance bonuses. The global road show will be led by national business groups like the Uruguay Chamber of Construction.
The first round of PPP outreach takes place next month in Madrid followed by a second round of meetings courting Chilean investors in Santiago. (Full Story in Spanish)
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