Population pressures and urbanisation have driven demand, but with constrained public funding for infrastructure, states face challenges to keep up with change.
Maturing public-private cooperation – An openness from governments to partnering on new schemes has stimulated a buoyant private investment market, including in asset recycling and PPP projects. Encouragingly, a stop-start political culture is starting to make way for bi-partisan support for infrastructure projects as a driver of economic growth.
Regulatory models – Establishing and maturing regulatory models to encourage greater productivity would go some way to addressing current concerns over governance and accountability. In particular, focusing on early stage strategy and programme set up, as well as alternative contracting strategies, should be a major priority across the region.
Embracing technology – Despite strong private investment, a reliance on public sector structures and budgets has seen a slow adoption of data and technology-driven processes. The industry needs to make the case for new tools to improve productivity.
Stronger governance and new approaches to technology are needed to capitalise on a strong pipeline of work and mature investment models.