Abstract
PurposeThe increasing demand for public infrastructure has caused a rise in the global adoption of the public–private partnership (PPP) concept. However, over the past years, most of the developing countries have failed to attract more private investments as realised in the developed countries. This paper aims to investigate the critical factors that attract private investments in the PPP markets of developing countries.Design/methodology/approachAn empirical questionnaire survey was conducted with targeted international PPP experts from the academic and industrial sectors. The inter-rater agreement analysis, mean score ranking and Mann–Whitney U test were used to analyse the survey responses.FindingsResults indicate that the three most critical factors are political support and acceptability for PPPs, government positive attitude towards private sector investments and political stability. On the other hand, factors including government guarantees, competent PPP unit and tax rebate on imported equipment are of low importance. The Mann–Whitney U test reveals that experts from the academic and industrial sectors view the importance of three factors differently: adequate public sector experience in PPP, government providing guarantees and government providing tax rebate on imported equipment.Originality/valueThe research outputs contribute to the existing but limited knowledge on PPP practices in developing countries by providing empirical evidence and cross-cultural perceptions on the conditions that are critical to the expansion of PPP markets in developing countries. It is therefore expected that governments and policymakers seeking to adopt the PPP concept would take into consideration the results and implications to enhance PPP growth.
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