Most of the governments in the Middle Eastern region have started to put the necessary frameworks in place to facilitate Public Private Partnerships (PPPs) and drive an increased flow of such projects, said experts at a key forum hosted by global law firm Dentons in Dubai.

The event saw banking, projects and construction specialists from across a number of industries discuss both the opportunities and challenges facing major PPP projects across the region.

The key speakers included Dentons partners Ian Dalley and Udayan Mukherjee, former English High Court Judge and current arbitrator Sir Vivian Ramsey QC as well as barrister Lucy Garrett of Keating Chambers.

Speaking at the seminar, experts pointed out that already new PPP laws have come into force in Dubai and Kuwait this year, while Oman has implemented a new five-year plan to encourage such partnerships.

"While there may be clouds on the horizon with governments reassessing support for some projects, the region has seen a steady increase in the number of project financings so far in 2015," remarked Michael Kerr, the managing partner at Dentons (Middle East).

"The strong pipeline of major projects in place across the wider region and pressure on government budgets could lead to more PPPs and greater reliance on private funding," he added.

Andrew Jones, the partner and head of construction in the Middle East at Dentons, said: "As governments consider their various options to finance major projects, including PPP, the potential for project disputes still exist."

Lessons learned from previous projects can be used better to shape risk allocation and improve the structuring of bankable projects, he pointed out.

"Rigorous review of contracts is key at the planning stages both in avoiding disputes and in preparation for swift resolution," he added.-TradeArabia News Service