The Law on Public-Private Partnership (PPP) was signed by the President. The telegram channel of the Justice Ministry reports about it.
According to the law, public-private partnership is a partnership between the state partner and the private partner, which is legally formulated for a certain period of time, joining their resources to implement a public-private partnership project.
The Agency for the Development of Public-Private Partnership under the Ministry of Finance implements the state policy in the sphere of PPP.
The law defines the rights and obligations of the PPP parties.
The public-private partnership project may be initiated by the state body (organization) and (or) individual entrepreneur or legal entity.
A government partner shall conclude an agreement on public-private partnership with a private partner, whose tender or direct negotiations shall be determined based on the results of the negotiations.
The bidding criteria should be clear and do not contain discriminatory rules.
The period of validity of a PPP agreement shall not be less than 3 years and shall not exceed 49 years.
The parties of the public-private partnership agreement are liable for the non-performance or improper performance of their obligations.
If the following legislation violates the terms of investment in the PPP, the legislation existing during the ten-year period from the date of conclusion of the PPP agreement with the private partner shall be implemented.
This law will take effect after one month.