By Fawaz Karami
KUWAIT, Nov 12 (KUNA) -- The public authority for public-private partnership projects President Adel Al-Roumi announced Wednesday that the executive bylaw of the Public-Private-Partnership law No. 116 of 2014 are in the offing.
"Nearly 60 percent have been completed and the whole bylaw is expected to be finished before the end of the year," Al-Roumi told KUNA on the sidelines of training courses held by the authority to raise awareness about the PPP law.
"Once they are completed, the bylaws would be sent to government bodies for adoption." He pointed out that the PPP law draws upon the best world practices in this domain.
Al-Roumi regretted that the number of joint public-private projects in Kuwait is still very low compared with their number in many countries such as France where PPP projects make up nearly 60 percent of the government projects.
On the training courses, he stated that the authority is organizing a package of training programs to acquaint government officials and investors with the important of PPP projects.
Last July, Kuwait enacted Law No 116 of 2014 regarding Public Private Partnership (PPP) on with a view creating appropriate investment climate that allows the attraction of private equity and provide citizens with opportunities to participate in such project, promote savings and realize additional income sources.
Issuance of such a Law is a development to treat certain gaps in Law No. 7 of 2008 concerning regulation of B.O.T, and other similar schemes. (end) fnk.ibi