By Sami Zaptia.
Tripoli, 14 January 2013:
A workshop on Public Private Partnerships (PPP) took place today at the Corinthia hotel, . . .[restrict]Tripoli.
The workshop, during which Libya’s new PPP draft law was revealed, was entitled “Transition to a PPP model” and was organised by the Ministry of Housing and Utilities in association with international legal firm, Clyde & Co.
Opening the event, the Minister of Housing and Utilities Ali Sherief, highlighted the fact that demand on and competition for Libya’s state budget (LD 66.86 billion in 2013) from other non-development sectors is high, which in reality leaves very little left over for development and infrastructure investment.
This has meant that in reality Libyan citizens do not feel the effect of the development sectors of the budget and development is stifled by lack of funds.
To this end the Minister said that he was pleased that his Ministry initiated the PPP law and this workshop to find a new system of funding Libya’s development and infrastructure projects.
Minister Sherief said that he hoped that the initiative and workshop would come up with innovative ideas and a form of a PPP law for the public and private sectors to work together in all sectors. This included both the local and international private sector, the Minister added, to form effective partnerships that would help in building the Libyan state.
Presentations were made at the workshop by local and international experts on PPP including from the Ministry of Finance of Egypt, the Foreign Ministry of Finland, Clyde & Co., PWC, the IFC with a roundtable workshop in the afternoon to come up with some initial recommendations.