We are strong believers by conviction and experience
in the superior potential and efficiency of the private provision
of public services. Such a principle takes further importance
in emerging economies where social investment and spending become
the main priority of governments.
The varying sizes of the different economies
in the emerging world, the social perspective of governments in
the allocation of public funds, the variance of the available
natural resources and the instability of political environments
constitute challenging elements to cope with in establishing new
rules in infrastructure markets, where large amounts of qualified
investment are needed in order to allow economic growth to take
place.
We consider competition being superior to the
best of regulations, and appropriate regulation being superior
to state ownership. We also believe appropriate regulation or
deregulation requires sophisticated but pragmatic thinking, a
sense of reality as opposed to excessive theory and, above all,
the acknowledgement of the singularities prevailing in each particular
market.
Throughout the years BA has taken the challenge
of designing, promoting and implementing change in developing
countries, both from the public as well as the private standpoint.
Such experience has strengthened our belief in the potential of
well-designed regulation and on the capability of governments
and private investors to interact constructively where sound regulation
and good faith prevail.
