What is port concession?

A port concession is an agreement between a government or port authority and a private entity, granting the latter the rights to operate and manage a specific port or terminal for a defined period. This arrangement often involves investment in infrastructure, maintenance, and services to enhance port operations and efficiency. In exchange, the private entity typically pays fees or a percentage of revenue to the government. Port concessions aim to improve port performance, attract investment, and promote economic growth while sharing risks and responsibilities between public and private sectors.