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Ammon News - The Cabinet approved the draft law on the Public Private Partnership projects for 2023.

The draft law is aligned with realizing the economic modernization vision and creating a stimulating investment environment to build partnerships with the private sector to leverage its technical expertise in establishing infrastructure and utilities projects, providing and improving services and maximizing productivity in order to promote economic growth and sustainable social development in the Kingdom.

It also aims to create an effective institutional framework and clear, simple and transparent procedures, in accordance with the principles of good governance, to qualify, select and implement projects that provide citizens with distinguished services, and achieve balance between the expected cost and the targeted benefit with maximum efficiency and effectiveness.

According to the draft law, the Ministry of Investment is the main reference point for managing the stages of partnership projects and issuing their bids in coordination with the relevant government agencies. A unit for public and private partnership projects will be established under the umbrella of the ministry, with its mandate defined during the stages of partnership projects.

The draft law seeks to provide a sustainable financing mechanism to spend on developing partnership projects and bidding for them, and to identify and manage financial commitments and their long-term impacts on the public budget, directly or indirectly, in order to ensure the development and implementation of partnership projects and monitor of the required government support.

In the meeting, chaired by Prime Minister Bisher Khasawneh on Sunday, the cabinet approved an amended regulation for the administrative organization of the Integrity and Anti-Corruption Commission (IACC) for 2023, in order to enable the IACC to carry out its tasks and duties by creating and abolishing new organizational units, in line with amendments that occurred in the amending Law of the Integrity and Anti-Corruption Law No. (5) for 2022.

In the meeting, the cabinet issued slew of decisions covering local and domestic domains.