Further advanving with more significant economic reform measures to mobilize private investments, Jordan officially launched its PPP Program on June 23rd 2008, and assigned its implementation to the Executive Privatization Commission. Jordan’s PPP Program’s broad objectives encompass creating a further driving force for economic growth and employment in the country through a well defined partnership with the private sector in infrastructure, utilities and services sectors.
Increasing private sector participation and enhancing an environment conducive to private investments supported by a strong political will, apt regulatory frameworks, transparency, and efficient institutional structures, signify the core of the new era of private sector-led growth and development in Jordan. Furthermore, and in conformity with the fundamentals of international and regional organizations, Jordan continues to work on providing the legal platform for its planned sustainable socio-economic development through amending its statutory front and developing institutional systems.
EPC’s recorded success in the implementation of the Privatization Program contributed to a more proactive role of the local, regional and international private sector in the country. Hence the main current challenge for EPC is to maintain the country’s recorded success in privatization, build on it and invigorate the flow of Foreign Direct Investments to the economy through inducing Public Private Partnerships and enhancing private investments in compliance with the vision of His Majesty King Abdullah II towards achieving a fair distribution of socio-economic benefits to all citizens across the Kingdom.
The PPP program, which is of anticipated magnitude and impact well beyond what has been accomplished through the completion of the Privatization Program so far, shall encompass all service sectors, utilities and basic services. New services will be offered to the public and existing services shall be improved and expanded, utilizing private sector know-how and capacities at reasonable tariffs and prices.
Since assuming the lead role in the PPP program in 2006, EPC in cooperation with line ministries and various stakeholders prepared the PPP Policy Paper which was endorsed by the Cabinet in mid 2007. Moreover, and pursuant to Article 20 of the Privatization Law no. 25 for the year 2000 - the sole statute for PPPs in Jordan- EPC prepared Regulations no. 20 for the year 2008 which had been endorsed by the cabinet and issued in August 2008. Furthermore, and in its endeavor to provide for the ample enabling environment for PPPs, the institutional framework has been further empowered by the establishment of the PPP committee in accordance with decision no. 2602 endorsed by the Council of Ministers on September 3rd 2008.
Whilst a number of PPP Pilot projects in various infrastructure sectors are being implemented, EPC in cooperation with relevant ministries, is preparing a pipeline of potential PPP projects in different infrastructure sectors; assessing their economic feasibility as well as their overall viability and expected contribution to the economic & social development of the country, and accordingly prioritizing them in the pipeline. The future is promising for PPP projects that will boost partnership and enhance viable private investments.