Fostering Partnership and Strategic Alliances in Sustainable Infrastructure Development
International Journal of Technology
This note continues from our previous note on infrastructure, sustainable infrastructure development was framed as vital in providing the necessary conditions for fostering growth and the economic development of a country. Infrastructure can refer to various sectors that represent a large share of an economy. Both components of infrastructure, physical infrastructure and social infrastructure, are required to provide necessary services for the public. The provision and the maintenance of
... intenance of adequate infrastructure is essential for achieving rapid and sustainable economic growth. The adequacy of a country's infrastructure is reflective of success in increasing productivity, expanding trade and industry, coping with population growth, reducing poverty, improving environmental sustainability, and bettering the living standards of society. The development of adequate public infrastructure is therefore required to achieve urban sustainability. Fostering Partnership and Strategic Alliances Infrastructure developments that are in the interest of the public also provide numerous business opportunities to investors and private investors. Successful participation in infrastructure development must be supported by project planning and delivery and knowledge transfer and technology, which can strengthen local industries and promote collaboration in Public-Private Partnership (PPP) schemes. Some key factors for the successful implementation of PPP schemes among involved parties are the guarantee of return on investment, the use of clear and measurable key performance indicators, fair risk-sharing, continuous performance monitoring, good communication, and mutual cooperation and trust.