Infrastructure is the main reason for a country’s development. It boosts up the country’s economic growth. Each country tries to find new and innovative ways to enhance its infrastructure and looks for ideas on how they can develop it. Especially for developing countries, their focus is on how they can bring in new infrastructure projects that will benefit the region and increase the growth rate. Usually, such projects are funded by the government with tax money. Even though public sectors are often a part in such projects, the question lies whether the inclusion of the private sector in infrastructure projects can bring any large changes.
What is the public sector’s role in such projects?
The public sector is the sector that comes under the government. They are financially dependent on the government. They usually keep the projects going by funding them. However, that is not enough for the country’s development.
What difference does the private sector make?
When the private sector is involved in such a project, they bring new ideas along with them. They add innovation to the project, thus making it more efficient for the economy.
For a country to develop fast and smoothly, the involvement of both the public and private sector is required.