Public-Private Partnerships and Inclusive Governance in Sustainable Economic Development: Case of Albania

Abstract

  In Albania, the notion of Public–Private Partnership remains a relatively recent phenomenon, while in other countries in Europe this concept has been known for a long time ago, mainly after the 90s, while the awarding of the works or the realization of the investments with concessions was carried out before this term appeared. Open governance and cooperation with the private sector, using the skills of this sector but also maintaining social responsibility in the framework of the realization of concession contracts in the function of sustainable development, should be the main priority of the governments' program for all countries in transition as well as for Albania. The purpose of this study is to emphasize the critical role of open and inclusive governance and collaboration with the private sector in achieving sustainable economic development. Making investments through public–private partnerships, utilizing practical expertise and effective management in contract implementation, provides an important opportunity to minimize risk costs. On the other hand, governments face a series of challenges in the framework of the successful realization of PPP projects, as a well-defined legal framework is needed, which includes the process from procurement to the end of each project realized through PPPs, administrative capacities are needed and effective institutions otherwise called institutional framework. Good and inclusive governance is an important condition for achieving the social stability and sustainable economic stability, as well as being the main priority in the international development in line with the long-term development goals. This study is based on secondary data collected through an extensive review of national and international literature, as well as reports from governmental and non-governmental organizations.