Public-private tie-ups 'key to GCC growth'

There is a vital need for the GCC countries to adopt a partnership approach between public and private sectors as an effective means of promoting national development goals in the region, according to a new study.

The GCC countries’ particular economic profiles make Public-Private Partnerships (PPPs) an attractive transformation mechanism – helping governments better achieve their national development plans and introduce foreign capital into priority areas, said management consulting firm Booz & Company in its study.

An additional benefit is that, through this process, the state retains ultimate control over projects, thereby avoiding certain privatization pitfalls.

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