GCC states would benefit by developing infrastructure in partnership with private sector
GCC governments should use public-private partnerships (PPPs) to develop infrastructure projects in order to free public funds for other uses, and share risk with the private sector, according to a report by US consultancy Booz & Company.
The report said that in addition to the two benefits, PPPs would also have economic benefits from improving government services, technological benefits from transferring private sector expertise to the public sector, and social benefits from improving coverage of services.
The consultants warned that in order to properly execute projects under a PPP contract they would need to pay more attention to developing, legal, governance, and supervisory frameworks to handle the relationship with private sector firms.
You might also like...
Lowest bidders emerge for Kuwait housing project
28 March 2024
Red Sea Global awards Triple Bay infrastructure deal
28 March 2024
Global petrochemical output capacity to soar by 2030
28 March 2024
Neom tenders Duba Energy Park EPC package
28 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.