The Public Private Partnership

Abstract

The attraction of the topic of Public Private Partnership (PPP) is amply witnessed both by the numerous publications in existence on the subject (see references) and also by the fact that there is an increasing number of cases of its practical implementation. PPP is not a completely new approach or discussion topic in that the subject of cooperation between the public and the private sector has been of interest for a considerable length of time now within the context of mixed economy enterprises, international joint ventures, mixed or rather jointly financed research, technology or infrastructure projects, dual financing of hospitals and various privatization activities. What is new, however, is the rationale that underpins it. In view of the nature of the demands made on its budgets, the public sector must, of necessity, resort to outsourcing in and cooperation with the private sector. Such arrangements present themselves as realistic options when they are to the advantage of both partners. In this context public escort is to be understood as the German central government, the federal states, counties, municipalities and other corporate bodies governed by public law as well as those public sector enterprises under public or private law and furthermore the affiliated companies of these institutions.