ECA Showcases Achievements of Public-Private Partnerships at 9th Global Infrastructure Leadership Forum in US

ECA concluded its participation in the 9th Global Infrastructure Leadership Forum in the US capital Washington D.C.

Held under the banner Creating the Foundation for Global Prosperity, the forum saw the participation of a selection of global decision-makers, experts and businesspeople from all over the world in the investment, infrastructure and smart cities sectors. ECA was represented by SG Mr. Mohanud Helal and ECA’s Director General of Executive Affairs, Eng. Adim G. Al-Sharif

In a workshop titled Major Projects and Public-Private Partnerships in the Middle East, ECA SG reviewed the role ECA plays as a government facilitator in creating and establishing a lively environment in which the private sector can thrive, invent and innovate, and to become a driving force in the Kingdom’s development and a contributor to the diversification of the national economy, taking it to the top of the world’s major economies.

As for the challenges that nations face in developing partnerships between public and private sector, Helal reiterated that ECA continues to encourage partnership with the private sector by creating an ideal environment for business and investment and offering advanced, sophisticated services to investors.

He detailed to the forum’s attendees ECA’s vision for economic development, which it aims to accomplish by creating a competitive environment that attracts investors and facilitates viable strategic partnerships, adopting legal and regulatory best practices, providing the best possible and most efficient government services, all of which would help make the Kingdom’s economic cities appealing to businesspeople and investors. He pointed out that the Kingdom’s experience in building these cities sets a pioneering, inspiring example for nations looking to develop their economies.

Speaking of best practices, Helal confirmed that ECA is working to bolster the role of the economic cities, developing them to become the most competitive places in which national, international and partnering investors can start their businesses, by guaranteeing that all incentives and facilities are made available to them, and ultimately paving the way for the economic cities to play a greater role in shaping the future of the Kingdom in all facets of strategic industries and businesses.

Helal concluded his presentation by highlighting the experience of public-private partnerships in developing vital projects, the most important product of which to date is King Abdullah Port at King Abdullah Economic City, which sets the trend for a successful partnership between public and private sector. He underlined the contribution King Abdullah Port is expected to make to the national economy, as well as to achieve the objectives of economic diversity, given the port’s world-class standards, high-tech facilities, and advanced e-services, all of which operate in unison within a cohesive structure that includes the private sector and 18 government agencies.

The forum saw the participation of representatives of the world’s 100 most prominent world-class infrastructure projects, the combined worth of which is well over $600 billion. The event was a great platform through which ideas and expertise were exchanged among the purveyors of future projects.