Ministry of Economy of Ukraine
Guarantees for Business within the Framework of Public-Private Partnership Have Been Strengthened in Ukraine
22.08.2022 | 09:03Ukraine will be able to attract long-term investments for restoration and development within the framework of public-private partnership. Relevant amendments to the Budget Code of Ukraine developed by the Ministry of Economy were signed by President of Ukraine Volodymyr Zelenskyi.
Regulation of budgetary relations during the implementation of agreements concluded within the framework of public-private partnership is an important step for the effective attraction of investments in the state budget.
“In the conditions when the enemy causes significant destructions to our infrastructure, attracting investments in restoration thereof is a priority for the country. Such projects involve long-term cooperation and long-term commitments of the parties. The state was previously deprived of such an opportunity, since the principle of three-year budget planning was then in place”, noted Deputy Minister of Economy of Ukraine Oleksandr Hryban.
One of innovations of the law is the introduction of assuming long-term commitments by managers of budget funds who are state partners (concessionaires) within the framework of public-private partnership.
Making the proposed amendments to the Budget Code of Ukraine will allow:
- to engage private business in the implementation of large-scale projects on PPP terms, including concessions. This will contribute to modernization of existing infrastructure and creation of new one in the war and post-war period for social, transport, energy, housing and communal spheres and provision of quality services to citizens;
- to add confidence to private partners (concessionaires) in the state’s fulfillment of its obligations and functioning of the PPP (concession) facility.
We would like to remind you that in 2021 the Ministry of Economy developed a number of by-laws to ensure the transparency of the process of selecting a private partner, as well as the introduction of a systematic approach to the involvement of private business in all spheres of economic activity. Public-private partnership allows to implement the priority and socially important infrastructure projects, and also contributes to the improvement of business climate in Ukraine.
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