New law to open doors for PPP projects in many sectors

The Omani government is aiming to adopt a lean governance structure and planning to open doors for Public Private Partnership (PPP) projects in many sectors with a new law. The current governmental efforts also include the establishment of an entity as well as a framework that clearly states the ownership of the project and sponsoring ministries. Abdulaziz Said al Risi, studies expert, office of the Advisor for Studies and Research from a government entity said, “The government is taking a lot of efforts. It is a result of a steering committee’s intensive work for a few months. The committee comprises members from the public and private sectors as well as some consultants specialised in PPP. “The proposed PPP framework will complement the current good practices in the water and electricity sector and it will send a message to other sectors as well, that it’s time to consider PPP.” He added, “A new PPP law has already been drafted and will be enacted very soon to adopt some of the existing bodies and functions under the existing Privatisation Law. It has set out a legal framework for the procurement of PPP projects in Oman.” The official added there are many reasons behind the current effort of PPP framework among those is to enhance private sector’s confidence in Oman’s PPP programme. Risi was speaking at a PPP seminar organised by the Oman American Business Centre. It was held under the auspices of Dr Talal al Rahbi, deputy secretary general of Supreme Council for Planning. The event was attended by businessmen and representatives of various companies. Dr Rahbi also shed light on the importance of PPP in Oman. “Oman’s national programme for enhancing economic diversification (Tanfeedh) came out with around 76 initiatives that of course will need financing. PPP is meant to be one of the sources for financing some of these projects,” he said. Kalat al Bulooshi, CEO of Oman Investment Company, stressed PPP for development of the economy and highlighted contribution of PPP projects in the international market.       Source: muscatdaily