Abstract
Investment in infrastructure, although historically dominated by public intervention, is experiencing a growing role via public and private partnerships (PPP). This trend traced a steady increase since the start of the privatization and liberalization process that took place in most OECD countries in the 1990s and peaked in 2012. While the study of the long list of factors that determine the attractiveness of an investment in energy infrastructure has been performed elsewhere in this book, we look at the emerging global trends in the energy, transport, and water and sewage sectors. We then narrow our overview to the energy sector, showing an interesting peculiarity both in terms of the relative regional attractiveness and the dynamics of the countries concerned. Finally, we explore the private participation in infrastructure (PPI) picture for energy investments in the Middle East and North African (MENA) countries, which are lagging behind both in relative and absolute terms. Moreover, the two countries that dominate the scene in the MENA region (Morocco and Jordan) are those that perform better in terms of a political stability score and rule of law score according to the World Bank. While further analysis will be necessary to define the relative impact of each enabling factor in the investment decision-making process, it appears evident that those two indicators are likely to determine the attractiveness of the market concerned for investment dominated by long lead times and irreversibility.
Published Version
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