The Government of Victoria (Australia) has launched new requirements for public private partnerships (PPPs) in order to ensure best practice and allow the private sector to tender for Victorian Government projects with greater certainty.

Launched by Treasurer Tim Pallas, Partnerships Victoria Requirements will ensure we stay the construction powerhouse of the nation by reducing costs and improving project outcomes – making it easier to do business in Victoria.

The Victorian Government's extensive pipeline of major infrastructure projects requires key partnerships to deliver high-quality infrastructure and services for the benefit of all Victorians.

A more consistent approach to PPPs means government and bidders will save time by focusing on project-specific issues, reducing bid costs and negotiation time, and improving transparency for the private sector.

As part of the updated provisions, new standard expression of interest, request for tender and base contract documents will reduce costs for bidders and improve certainty for PPP participants and investors.

The new requirements are timely given recent Australian Bureau of Statistics figures confirmed Victoria's building approvals are firing along at nearly 30 per cent growth for the year.

Our population growth is also the strongest in the nation with more than 2,100 people choosing to call Victoria home each week.

That's why the Victorian Government isn’t wasting a day and making significant investment in new schools, hospitals, and infrastructure – creating jobs and boosting economic growth.