Cairo – Mubasher: Egypt’s ministry of finance (MoF) announced the completion of a draft law amending some provisions of law no. 67 of 2010 regarding public-private partnership (PPP) in infrastructure projects, services, and public utilities.
The draft law aims to streamline procedures, shorten the time taken to implement projects, and provide a more flexible contracting mechanism in a bid to achieve sustainable development, the ministry said in a statement on Wednesday.
Egypt’s cabinet has approved the proposed law which will be referred to the Egyptian Council of State to be reviewed.
Under the proposed law, the private sector will be allowed to operate existing infrastructure projects, minister of finance, Mohamed Maait, said.
In addition, a joint committee will be formed from representatives of the finance ministry and planning ministry as well as public-private partnership (PPP) central unit to select the projects that can be executed under the PPP system.
