Public-private partnership helps achieve development objectives

THE idea of a public-private partnership (PPP) is, in fact, nothing new. Around the world, governments have initiated such partnerships, which, in layman's terms, are joint ventures between the private and public sectors to achieve specific national development objectives.

Through PPPs, a government aims to secure investment and greater efficiency in the delivery of necessary public services in areas such as infrastructure, healthcare, and education by getting the private sector to take them on. As an incentive, the government may choose to offer concessions, tax breaks, or grants to the relevant private sector players to create a viable business case.