DIRECTIONS OF DEVELOPMENT OF PUBLIC-PRIVATE PARTNERSHIP IN THE REPUBLIC OF BELARUS

UDC 334.723

  • 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/10.52065/2520-6877-2022-256-1-118-124

Key words: public-private partnership (PPP), PPP agreement, feasibility study of PPP projects, infrastructure bonds.

For citation: Sharapa E. V. Directions of development of public-private partnership in the Republic of Belarus. Proceedings of BSTU, issue 5, Economics and Management, 2022, no. 1 (256), pp. 118–124 (In Russian). DOI: https://doi.org/10.52065/2520-6877-2022-256-1-118-124.

Abstract

The current challenge for the world’s largest economies is the lack of infrastructure investment. According to the Global Infrastructure Hub, by 2040 infrastructure analysis is $15 trillion [1]. The solution to the problem of limited funding for many countries was the development and use of the recommendations of the institutional system for attracting the private sector to the construction and operation of infrastructure facilities, which was called public-private partnership (PPP). In such a system of relations, the resources and potentials of two economic entities are combined – the state in the form of its ownership and business in the form of private entrepreneurial principles of management, investment, management, and innovation.

In the Republic of Belarus, a legal framework and a system of institutions for the implementation of PPP projects have been created, specialists in this field are being trained, and the first pilot projects have been selected. However, despite the work done, not a single PPP project has been implemented in the country. The article identifies and systematizes the limitations that, in the author’s opinion, prevent this. Practical recommendations are also proposed to eliminate the identified restrictions, the implementation of which may contribute to the activation of the launch of PPP projects in the country.

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References

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