Perspective of Critical Factors toward Successful Public–Private Partnerships for Emerging Economies

Abstract

In the last decades, Albania has started the implementation of a new practice which is partnership with the private sector, named public–private partnership (PPP), due to the inabilities of the public sector to fulfill all its public needs. This represents a crucial ratio related to economic development and the struggle for a fair and transparent implementation process. Critical success factors (CSF) are the significant elements in the partnership which, if properly identified, provide success in implementation. For this reason, the purpose of this study is to highlight the factors which increase the chances of a successful implementation of PPPs in Albania and the items which contribute to each factor. The data used for the analysis were gained through 175 surveys conducted with people working in private and public institutions engaged in PPP. Of the main CSFs, the identification of the right project is ranked most critical to the success of PPP followed by financial capacity, trust, openness and fairness between parties, negotiation and defined revenue stream. The study findings further suggest that the accountability mechanism should be enforced in order for the public sector to act in accordance with the public interest. It is concluded that the findings of the study will guide the PPP stakeholders on the CSFs of PPPs in Albania.

Is Europe on the Way to Sustainable Development? Compatibility of Green Environment, Economic Growth, and Circular Economy Issues

“…Collaboration between various stakeholders is essential to achieve sustainable development [127], and the setup of public-private partnerships is a proper solution for such a complex issue [128,129]. Sustainability education is one of the key enablers in the transition to a circular economy [93,[130][131][132][133].…”

Critical Success Factors of Water and Power Public–Private Partnerships in Developing Countries: A Systematic Review

“…By following PRISMA, the reviewers can minimise selection bias when retrieving papers by following explicit identification, screening, and eligibility guidelines [38]. SCOPUS was utilised to search and retrieve articles due to being trusted and considered the standard search engine by PPP and PM researchers [39][40][41]. SCOPUS was also utilised in multiple PPP systematic reviews [34,42,43].…”

“…The research employed surveys, but its response rate of 14% introduced the possibility of non-response bias, potentially affecting the representation of stakeholders' perceptions. A study on Albania [41] extracted CSFs from the literature and utilised questionnaire surveys to rank factors that drive successful PPP implementation. Among these, project selection, financial capacity, trust and accountability, negotiation, and predictable revenue stream had the most weight.…”

“…Private sector capacity comes third in this table. Sources indicate that financial [41,60], technical [61], and workforce capacity [62] are all crucial for successful PPPs. In developing nations, there is a significant dependence on foreign companies to overtake PPP projects.…”

Women Entrepreneurship: Challenges and Perspectives of an Emerging Economy

“…Whereas Albania, also supported by the fact of it being within the territories of the Western Balkans, was, for 50 years, under an eager dictatorship regime, Western Europe was experiencing a period of great development and wealth (Asllani et al 2014;Berisha et al 2022;Xheneti and Smallbone 2008). The presence of the free market created optimal conditions for trading, and a new concept was born as well: globalization.…”