State-Business Relations—Multinational SOEs, GLCs, and SMEs

The conventional understanding of an SBR is that of a nexus between the public and private sectors, widely referred to as public-private partnerships (PPPs). This chapter draws attention to a new trend in the nature of SBRs, i.e. the emergence of public-public partnerships. In this type of SBR, when huge state-owned enterprises that function as multi-national companies invest in an emerging economy, they forge business ties with government-linked companies in that country to implement major projects. These public-public partnerships are due to a mandate by two governments to companies they own to jointly implement projects.