The Senate's Financial and Economic Committee approved on Wednesday a draft law governing partnership between public and private sectors as referred by the Lower House.
The law aims to encourage the private sector to participate in the economic development process in the Kingdom, provide a legislative environment to execute projects with both sectors partnering and to enable the public sector to manage and carry out projects funded by the private sector.
Under the law, a partnership council will be set-up, headed by the Prime Minister. The council will comprise the ministers of finance, industry and trade, planning and international cooperation, the governor of the Central Bank of Jordan, the Public-Private Partnership Council director and a minister named by the premier.
Such a partnership also aims to rehabilitate the public infrastructure, encourage the private sector to invest with the government, provide funding for public projects and take advantage of modern technology and technical knowledge and expertise to construct and manage joint projects and share benefits with the private sector.