By NGUMBAO KITHI
The East African Chamber of Commerce, Industry and Agriculture (EACIA) says the private sector is too weak to compete with international investors in implementing Government projects in the five East African countries.
Officials said although the private sector in the region is growing it ought to be assisted to participate fruitfully in development through the Public Private Partnership.
The chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) Mombasa branch, James Mureu said the public-private partnership have become increasingly instrumental in project implementation in many countries in the world. KNCCI is affiliated to EACIA.
He said the potential benefits of this partnership are attractive in less developed countries where public funds for infrastructure development are insufficient to satisfy demand.
“The private sector within the East Africa Community is, however not well placed to play a leading role alongside governments in developing the region’s infrastructure and stands to lose out to international competitors,” he said yesterday, at the two-day conference in Mombasa.
Mureu noted that the conference would launch the public private partnership to support the private sector participation.
This will done through raising awareness, building capacity, and strengthening dialogue with governments at local, national and supra- national levels.