The future of public private partnerships

This week the Govern passed the bill on public private partnership that provides for a legal framework necessary to create jobs and attract foreign investment, according to a press release. The main changes are aimed at how to initiate public private partnership projects institutional and contractual , the constitution of the company project , the possibility of using public funds and European , to the public and collateral arrangements that may be established by the project company the provisions of the content of the public -private minimum terms of contract and its duration. A novelty is the fact that the company may have as shareholders or the public partner and the private partner or just a private case of a public – private partnership contract. Public-private partnerships are Europe’s chance to attract foreign investors, believes a lot the experts in financial issues. At the last visit of a Chinese delegation from International Engineering Co, the financial magazine said: “Currently there is a government and political opening to attract foreign investors can benefit from the development of a public-private partnership but change is needed in advance of legislation.” According to the explanatory memorandum , the bill (PDF file ) aims to create a legal framework to attract private financing for public projects , attracting foreign investment , creating jobs, improving public sector performance in implementing public projects , identifying new opportunities for attracting European funds . In this sense , compared to the previous regulation are aimed module additions to the initiation of a public-private partnership project institutional and contractual , the constitution of the company project institutional public-private partnership , the possibility of using public funds and European ones , to the public and collateral arrangements that may be established by the project company , the minimum elements that must be included in the public private partnership projects contract , or duration. The competent authority in implementing the law’s Department of Infrastructure and Foreign Investment Projects that will deliver and implementing within 90 days of the publication of the law in the Official Gazette. The project will be submitted to the European Parliament for discussion and adoption.