Analysis of the main provisions of the law of Ukraine "on public-private partnership" in the context of reformation the economy

Abstract

The main provisions of the Law of Ukraine «On public-private partnership» that contribute to the advancement and development of relations in such fields in Ukraine as public private partnership, socio-economic relations, attraction of investments in the economy etc. are explored in the article. Attention is focused on the provisions of this Law that are debatable. The new regulations to this Law are proposed, as well as ways to improve relations in Ukraine in the field of public-private partnership. Data on implementation of projects and formation of agreements of public-private partnership were announced on the official website of the Ministry of Economic Development and Trade of Ukraine as the empirical data. In order to develop economic relations and the settlement of relations in the field of PPPs in Ukraine the Law of Ukraine «On Public Private Partnership» was adopted. Results of the research of basic provisions of the Law give cause to suggest that public and private partners combine powers in order to implement socially important projects in various fields of economic activity throughout the whole country (national level) or on some territories of Ukraine (regional or local level). Implementation of public-private partnership projects meets the requirements of society, the public receives better products and services, construction and upgrading of infrastructure objects accelerates, is investments are attracting to economy, and so on. However, the development of public-private partnership in Ukraine needs to improve the provisions of the Law. They should be flexible and allow cooperation in various formats «public private partner». A useful complement to the existing system of coordination and control would be the creation of a special body like operating in other countries – the Private Finance Initiative.