The Puerto Rico Public-Private Partnerships Authority promotes an ongoing collaboration between the public and private sector with the aim of offering a high quality of life to all Puerto Ricans. The collaboration between these two sectors is key to promoting sustainable economic development and establishing Puerto Rico as a global competitor in the industry of goods and services.
P3s are not privatization. Rather, they are a long-term contract between public and private parties created for the development and/or management of a public asset or service. In this case, the private agent bears significant risk and management responsibility through the life of the contract, and compensation is significantly linked to performance, and/or the demand or use of the asset or service.
Depending on private sector innovation, there are models of P3s that include one or more stages, including design, construction, operation, financing, and maintenance.