Public-private partnerships (PPPs) have become a prevalent delivery method for large global projects. Previous research has examined individual Egyptian PPP projects; however, there is a notable absence of comprehensive analysis from a PPP program perspective, which is crucial to gain deeper insights into the program's overall outcomes, including total number of projects, the invested capital value, and the extent of public funding. This paper proposes a system dynamics model for a national PPP portfolio focusing on Egypt to address this gap. It aims to provide a tool for practitioners and policymakers to study the entire PPP system and the factors affecting it. Four causal loops show how policymakers and investors must balance economic growth with social acceptability to develop effective infrastructure strategies. The findings demonstrated an excessive reliance on the Egyptian PPP program in the energy sector and unsolicited proposals. Hence, policies focused on strengthening public capacities to procure PPP projects may be needed to counteract this tendency and enhance competition. The Egyptian PPP program can also benefit by prioritizing investment in critical infrastructure projects, particularly in sectors historically underfunded in the PPP program, such as ICT, which is critical for fostering the benefits of Industry 4.0. This paper analyzes the national PPP program dynamics and offers PPP decision-makers valuable approaches to improve project portfolio outcomes.