Maybe the answer is private ownership, but with a cap on the amount that can be skimmed off by shareholders and investors.  Plus, essential services, eg water, transport, could only be sold off by governments to companies run and owned within the country concerned.   Yes, it would reduce the attraction ... but also the likelihood of money being skimmed off and taken out of the country as profit whilst the service concerned is strapped for running/investment costs.

or maybe regional co-operatives could work.  Local people would have a stake in local services.