MUSCAT: H.E. Darwish bin Ismail bin Ali Al Balushi, Minister Responsible for Financial Affairs, says the Government remains focused on building greater public-private partnerships (PPP) as it works to achieve economic growth.
“PPPs have emerged as an important commercial modality to secure economic growth. The mutual benefit that public-private partnerships offer is of great value,” he said.
The Minister was speaking at the Public Private Partnership Forum currently being held at Oman Convention and Exhibition Centre (OCEC).
According to the Minister, the partnership has helped Oman reduce its dependency on oil last year. “It is noteworthy that the contribution of non-oil activities at the end of 2018 increased to about 70% of GDP, a percentage the private sector had a major role in achieving,” the Minister said.
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This, partnership, he argued, is crucial as the Government works to quicken the pace at which it delivers jobs, improves infrastructure, and increases training opportunities that match labour market demands.
“By the end of the Ninth Five-Year Development Plan, the government aim is for the value of the projects related to the PPP programmes to reach about OMR 2.5 billion. In addition, the PAPP is currently studying more than 20 other initiatives for the PPP projects in preparation for submission thereof to the private sector in the near future,” he added.
