A ROBUST SOLUTION FOR URBAN TRANSPORTATION INFRASTRUCTURE AND SERVICE DEVELOPMENT: PRIVATE SECTOR PARTICIPATION

This paper proposes private sector participation, PSP, as a robust solution for urban transportation infrastructure and service development. It confirms that the renewal of urban transportation PSP is in its infancy when much more promotion and trust building is needed. At the same time, much has been learned about PSP, and there have been beacons of innovation. Nevertheless, much more PSP novelty and advancement are possible and needed. There are positive and negative sides to PSP, but if properly applied it will be a robust solution for many of the current and future urban transportation problems. The PSP experiences are promising and growing. They were found to be a means of raising fund and improving management. They have been applied mostly to reduce and share financial, economical and technological risks. They may also be used to reduce and share urban transportation social, political, legal, regulatory, institutional and environmental risks. The paper proposes identification and balanced treatment of involved urban transportation processes via PSP instead of solely considering financial and management issues. In confronting the upcoming and escalating governance risks of 21^st Century, Governments may look for a balance and harmony in public-private alliances for a sustainable urban transportation in people-centred cities of globalizing world.