Leland Rice (left), Editor-in-Chief of ‘The Business Year’; Dr Khaled Alderbesti (second left), Senior Consultant at the Ministry of Economy and Commerce; Fahad Rashid Al Kaabi, CEO, Manateq (third right) Abdul Rahman Essa Al Mannai, President and CEO, Mi
A new law that will clearly define the regulatory framework for the establishment and smooth functioning of the Public Private Partnership (PPP) businesses in Qatar is to be issued soon, a senior official at the Ministry of Economy and Commerce said yesterday.
The proposed law, which is at the final stages of approval, is expected to clearly define the rights, duties and accountabilities of all the concerned parties involved in a PPP business venture.
“The upcoming law will define the roles and responsibilities of each stakeholders involved (in a project based on PPP business model). It is also going to put some sort of accountabilities on each parties,” Dr Khaled Alderbesti, Senior Consultant at the Ministry of Economy and Commerce told The Peninsula on the sidelines of a roundtable discussion on ‘The Implementation of PPPs in the State of Qatar’.
Dr Khaled added: “The Ministry of Economy and Commerce is acting as a bridge between the private sector and different government agencies, especially those which are overseeing and executing government’s important projects.”
The discussion was organised by ‘The Business Year’(a periodical published by the British Virgin Islands-based ‘The Business Year International’), in partnership with the Ministry of Economy and Commerce.
Dr Khaled represented Saud Abdullah Al Attiyah, Director of Economic Policies and Research Department at the Ministry. Other members of the panel included Abdullah bin Hamad Al Attiyah, Assistant President at Ashghal; Fahad Rashid Al Kaabi, CEO, Manateq; Mira Al Attiyah, CEO, QNB Capital; Capt. Abdulla Al Khanji, CEO of Qatar Ports Management Company; Abdul Rahman Essa Al Mannai, President and CEO of Milaha; and a representative from Qatar Development Bank (QDB).
Sultan bin Rashid Al Khater, Undersecretary at the Ministry of Economy and Commerce.deliverd the key ntoe address. Leland Rice, Editor-in-Chief of ‘The Business Year’ moderated the discussion.
Most of the panelists suggested that once the law becomes operational, it will attract more private investment from local and international companies to join hands with government agencies to work together in a synergy that will improve efficiency and productivity.
The Ministry, on its part, trying to diversify the local economy by promoting SMEs and attracting investments to establish a vibrant private sector to achieve a long term goal of sustainable development.
The upcoming law is expected to attract private investments, know-how and technology in key areas of the economy, especially the services sector, such as transportation, health, education and others.
“We at the Ministry are trying to make things easier and smoother for the private sector. The law, which is expected to come soon, is going to help us in drafting bylaws to cement the policy that we are adopting,” noted Dr Khaled.
He also added that the draft-law has accommodated the best international practices keeping in view the local requirement to make it more compatible. It has already incorporated the concerns of the local private businesses after consultation.
“I believe that most of the stakeholders will be very happy with the law as that clearly states their rights and responsibilities. It will help both sides to legally help better to support the implementation and operation of the PPPs.", he said.
