24.12.2013
Public private partnership bill in Belarus government
MINSK (BelTA) – The bill on public private partnership has been forwarded to the Council of Ministers of Belarus, the press service of the Belarusian Economy Ministry told BelTA.
The bill will bring about the legal framework that will allow uniting the potential of the state and the private sector for implementing publicly important projects, primarily infrastructure ones, on partnership principles with the possibility of mutual financing and parity-based profit distribution. The bill envisages setting up a national public private partnership center as part of the Economy Ministry in 2014. The center will provide methodological and legislative support for establishing public private partnership in the country.
In 2014 the bill on public private partnership is expected to be reviewed by the House of Representatives of the National Assembly of Belarus. Experts believe that in the future the document will seriously enhance the investment appeal of the Belarusian economy.
It is noted that in 2014 Belarus may become the first CIS state to legislate public private partnership. At present public private partnership projects can be implemented in line with Belarus president decree No. 10.
Massive systemic work to introduce public private partnership is in progress in Belarus, with the necessary regulatory framework being fleshed out. The prepared bill is an intermediate result of the international technical project, which is designed to bolster Belarus’ potential for applying public private partnership mechanisms. The project is being implemented by the Economy Ministry in association with the European Union and the UNDP. The necessary personnel are being trained as part of the project.
The experience of the world’s leading economies with the most effective practice of cooperation between the state and the private sector in handling publicly important tasks was reviewed for the sake of developing the Belarusian legislation on public private partnership. The countries are the UK, Germany, Canada, France, and other ones. International experts, who have analyzed the public private partnership bill, believe that 81.5% of the document corresponds with world practices, which is the best figure in the Commonwealth of Independent States.
All over the world public private partnership enables the state and the private sector to work together for mutual benefits while handling publicly important tasks. Public private partnership has been used to build roads, airports, power plants, hospitals, schools and other infrastructure objects.
The bill will bring about the legal framework that will allow uniting the potential of the state and the private sector for implementing publicly important projects, primarily infrastructure ones, on partnership principles with the possibility of mutual financing and parity-based profit distribution. The bill envisages setting up a national public private partnership center as part of the Economy Ministry in 2014. The center will provide methodological and legislative support for establishing public private partnership in the country.
In 2014 the bill on public private partnership is expected to be reviewed by the House of Representatives of the National Assembly of Belarus. Experts believe that in the future the document will seriously enhance the investment appeal of the Belarusian economy.
It is noted that in 2014 Belarus may become the first CIS state to legislate public private partnership. At present public private partnership projects can be implemented in line with Belarus president decree No. 10.
Massive systemic work to introduce public private partnership is in progress in Belarus, with the necessary regulatory framework being fleshed out. The prepared bill is an intermediate result of the international technical project, which is designed to bolster Belarus’ potential for applying public private partnership mechanisms. The project is being implemented by the Economy Ministry in association with the European Union and the UNDP. The necessary personnel are being trained as part of the project.
The experience of the world’s leading economies with the most effective practice of cooperation between the state and the private sector in handling publicly important tasks was reviewed for the sake of developing the Belarusian legislation on public private partnership. The countries are the UK, Germany, Canada, France, and other ones. International experts, who have analyzed the public private partnership bill, believe that 81.5% of the document corresponds with world practices, which is the best figure in the Commonwealth of Independent States.
All over the world public private partnership enables the state and the private sector to work together for mutual benefits while handling publicly important tasks. Public private partnership has been used to build roads, airports, power plants, hospitals, schools and other infrastructure objects.