Benghazi conference on PPP issues its 22-point recommendations

The conference on Private Public Partnership (PPP) held in Benghazi from 25-26 February under the banner ‘‘Encouraging the private sector in partnerships and enterprise and accepting risk and limiting state spending’’, issued its final 22-point recommendations on 5 March.

The recommendations were as follows:

Issuing unified legal legislation and accompanying regulations, and benefiting from regional and international experiences to enact a modern law that meets the requirements of the national economy and deals with the surrounding environmental conditions in an efficient and effective manner.
Establishing an authority to monitor partnership between the public and private sectors.
Improving the legislative effect of the proposed joint system, and the effects it has on the economic, financial and legal policies of the state.
Evaluation of the private and banking sectors, with regard to the ability of the public sector and the private sector to finance and manage these projects.
Encouraging the private sector to present its initiatives and outputs for the development of the country’s infrastructure by adopting appropriate incentives in case of approving partnership projects.
Initiating the establishment of a practical model based on the four criteria and pillars represented in: financing capital, human resources, and social and knowledge capital.
Start drafting the national strategy for sustainable development, which takes into account the depletion of the main natural resource in the country represented by oil.
Choosing the appropriate economic model that achieves partnership between the public and private sectors and achieves the well-being of society (the social market economy).
Empowering the private sector through an integrated vision for all sectors of public policies.
Improving the business environment and creating an attractive environment for investment and internal and external trade.
Focusing future investment at home in order to achieve sustainability.
Reducing the disadvantages of bureaucracy, corruption, and quotas, while working on the governance of partnership between the two sectors.
Opening doors for all kinds of financing for direct investment.
Focusing more on the partnership dimension than on privatization.
Reconsider how to use the funds deposited with the banking sector in order to benefit from them and employ them in development.
Emphasizing the importance of the state’s role in supervising partnership projects, and providing a control system to ensure compliance with agreements concluded between the public and private sectors, while emphasizing the preservation of the environment.
Develop partnership policies that support economic diversification and ensure a share for small and medium enterprises.
Listing the successful experiences of other countries regarding partnership with the private sector.
Enhancing dialogue between the public and private sectors.
Accelerate the adoption of a structural reform policy for all economic sectors as a single package in an integrated reform strategy.
Emphasizing the role of the private sector with its resources, skills, systems and technologies; And the public sector with its regulatory procedures and protection of the public interest.
Developing a guide for partnership between the public and private sectors.

It will be noted that the conference was sponsored by the alternative Fathi Bashagha-led Libyan government, recognized by the House of Representatives, its Ministry of Investment, the Benghazi Chamber of Commerce, and the eastern-based Central Bank of Libya.

PPP conference to be held in Benghazi from 25 to 26 February (libyaherald.com)