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Partnership between the public and private sectors...a basis for economic renaissance
Economical 10/14/2024
Baghdad: the mainstay of the emirate
The government relies on the partnership with the private sector to achieve an economic shift, as
this partnership enables it to implement and operate its public projects efficiently and effectively, by
benefiting from the capabilities and expertise of the private sector in providing the best services or supplying goods at the lowest costs, and
it also reduces the financial burdens on the general budget. .
The specialist in economic affairs, Dr. Wafaa Al-Mahdawi, stated that
“the accumulation of public debt during the end of the 1970s and 1980s prompted many governments to benefit from the private sector in financing infrastructure projects,” indicating that
“providing the private sector with the opportunity to carry out many tasks in providing services.” For a specific project, it leads to a better allocation of risks while remaining governmental or public responsibility for providing basic services.” Al-Mahdawi added, in an interview with Al-Sabah,
“The justifications for resorting to partnership can be limited to the inability of governments to achieve sustainable development on their own,” noting that
“accelerated technical and economic change has provided the opportunity to reduce the cost of projects and provide multiple partners with integrated solutions required by the nature of the problems.” “Relevant.”
Prime Minister Muhammad Shiaa Al-Sudani had stressed, earlier, that
the government had no intention of privatizing government companies,
but rather achieving partnerships with the private sector in a productive manner, indicating that the
success of any ministry in these partnerships would be an incentive for other ministries.
For her part, economic affairs specialist, Dr. Salima Hashem, said:
“The partnership between the public and private sectors achieves a range of gains greater than traditional insurance and purchasing methods.” Hashem added to Al-Sabah that
“these gains distribute the risks to the party best able to manage them at the lowest cost while ensuring the speed of project implementation, especially infrastructure projects in a short period,” indicating that
“the partnership allows for the activation of economic decentralization and thus
state agencies can benefit.” From the experience of a central unit specialized in partnership contracts to develop projects that it does not have the competence and experience to develop.” She explained that the
partnership between the public and private sectors allows obtaining financing outside the general budget, which is sponsored by the private sector, noting that
“the increasing entry of government agencies into partnerships helps mobilize the private sector and contribute to greater employment.”
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Economical 10/14/2024
Baghdad: the mainstay of the emirate
The government relies on the partnership with the private sector to achieve an economic shift, as
this partnership enables it to implement and operate its public projects efficiently and effectively, by
benefiting from the capabilities and expertise of the private sector in providing the best services or supplying goods at the lowest costs, and
it also reduces the financial burdens on the general budget. .
The specialist in economic affairs, Dr. Wafaa Al-Mahdawi, stated that
“the accumulation of public debt during the end of the 1970s and 1980s prompted many governments to benefit from the private sector in financing infrastructure projects,” indicating that
“providing the private sector with the opportunity to carry out many tasks in providing services.” For a specific project, it leads to a better allocation of risks while remaining governmental or public responsibility for providing basic services.” Al-Mahdawi added, in an interview with Al-Sabah,
“The justifications for resorting to partnership can be limited to the inability of governments to achieve sustainable development on their own,” noting that
“accelerated technical and economic change has provided the opportunity to reduce the cost of projects and provide multiple partners with integrated solutions required by the nature of the problems.” “Relevant.”
Prime Minister Muhammad Shiaa Al-Sudani had stressed, earlier, that
the government had no intention of privatizing government companies,
but rather achieving partnerships with the private sector in a productive manner, indicating that the
success of any ministry in these partnerships would be an incentive for other ministries.
For her part, economic affairs specialist, Dr. Salima Hashem, said:
“The partnership between the public and private sectors achieves a range of gains greater than traditional insurance and purchasing methods.” Hashem added to Al-Sabah that
“these gains distribute the risks to the party best able to manage them at the lowest cost while ensuring the speed of project implementation, especially infrastructure projects in a short period,” indicating that
“the partnership allows for the activation of economic decentralization and thus
state agencies can benefit.” From the experience of a central unit specialized in partnership contracts to develop projects that it does not have the competence and experience to develop.” She explained that the
partnership between the public and private sectors allows obtaining financing outside the general budget, which is sponsored by the private sector, noting that
“the increasing entry of government agencies into partnerships helps mobilize the private sector and contribute to greater employment.”
[You must be registered and logged in to see this link.]
