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.
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