REGULATORY AND LEGAL BASIS OF PROJECT IMPLEMENTATION PUBLIC-PRIVATE PARTNERSHIP IN THE REPUBLIC OF BELARUS

UDC 334.723:337

  • Kasperovich Sergey Antonovich – PhD (Economics), Associate Professor, Head of the Main Department of Professional Education. Ministry of Education of the Republic of Belarus (9, Sovetskaya str., 220010, Minsk, Republic of Belarus). E-mail: sergeak@mail.ru

  • Sharapa Ekaterina Viktorovna – PhD student. Republican Institute of Higher School (15, Moskovskaya str., 220007, Minsk, Republic of Belarus). E-mail: ekaterinasharapa@gmail.com

DOI: https://doi.org/10.52065/2520-6877-2021-244-1-55-62

Key words: public-private partnership (PPP), PPP agreement, PPP project, life cycle of PPP project, system of PPP institutions.

For citation: Kasperovich S. A., Sharapa E. V. Regulatory and legal basis of project implementation public-private partnership in the Republic of Belarus. Proceeding of BSTU, issue 5, Economics and Management, 2021, no. 1 (244), pp. 55–62. DOI: https://doi.org/10.52065/2520-6877-2021-244-1-55-62.

Abstract

The authors believe that public-private partnership (PPP) can become a solution to the problem of limited financing of infrastructures in Belarus, which is a long-term system of relations between and representatives of the private sector in the implementation of sectors of a particular project (mainly in business areas), which are characterized by ineffectiveness of public administration) on pre-determined conditions for the distribution of income or non-property benefits, costs and risks, as a result of which a synergistic effect appears. The partnership between the state and business allows attracting additional resources to the public sector of the economy, including advanced technologies and management methods, reducing the burden on budgets of all levels, transferring the bulk of the risks to the private sector, while preserving state-owned facilities.

The article examines the conditions created in the Republic of Belarus for the implementation of PPP projects: the regulatory framework, the system of institutions. The stages of the life cycle of a PPP project are described in accordance with the current legislation. Based on the analysis of the regulatory framework for the implementation of PPP projects in the Republic of Belarus, a number of restrictions have been identified that impede the practical implementation of such projects. According to the authors, the elimination of the identified restrictions will facilitate the practical launch of projects based on PPP principles in the Republic of Belarus.

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References

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12.02.2021