South Korean ambassador Chang-mo Kim has lauded the recently-announced Public-Private Partnership (PPP) Law, saying this would work to the advantage of both countries in terms of further enhancing trade and economic ties with Qatar.
The ambassador emphasised that the PPP law could enhance diversity and the competitiveness of Qatar’s economy by encouraging private sector participation in major economic activities, thereby contributing to achieving the Qatar National Vision 2030.
“South Korean companies are waiting for detailed guidelines on its implementation such as scope of its application and requirements to be fulfilled by the private companies…I hope South Korean companies can find good business opportunities in Qatar under the new PPP law. The South Korean embassy is ready to lend support for them,” Kim told Gulf Times.
“The South Korean government is also providing legal and policy assistance to help our companies participate in major projects utilising public-private partnerships. In an effort to support global PPP business, the Korea Overseas Infrastructure & Urban Development Corporation (KIND) was established in June 2018,” the ambassador pointed out.
Asked what other roles the embassy could play in forging PPPs with Qatar, and in which sectors, Kim said that for South Korean companies interested in PPP projects here, the embassy will share with them the recent trends in the Qatari market and keep these companies informed of the Qatari government’s new measures and policy changes.
“By sharing responsibility with private sector under the new law, the Qatari government can alleviate financial burden of major economic projects. Private companies can also benefit from the law by participating in attractive PPP projects where they can utilise their comparative advantage. I hope the new PPP law will work effectively and prove mutually beneficial to both the Qatari Government and the private companies,” Kim said.
The ambassador added: “In Qatar, the PPP approach has been adopted for major agricultural projects and construction of sewage treatment plant even before the introduction of the new law.
“I am sure that the new law will act as a stepping stone for the further development of PPP projects in other sectors, and I hope to see many projects initiated in areas where South Korean companies are interested.”
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