PUBLIC-PRIVATE PARTNERSHIP AS AN IMPORTANT TOOL OF SUSTAINABLE DEVELOPMENT OF TERRITORIES

Keywords: public-private partnership, public authorities, concession, sustainable development of territories

Abstract

The article points out that since 2015, the international community has been challenged to meet its ambitious goals of achieving the Sustainable Development Goals, as set out in the United Nations’ Summit on the Transformation of Our World: A 2030 Agenda for Sustainable Development. Almost all of them imply the need to create or modernize economic and social infrastructure in developing countries, which requires considerable financial resources. However, the budgets of such countries cannot cover the existing financial needs. Therefore, one of the most important tasks of the new Global Sustainable Development Strategy has been to create the conditions for attracting private sector financial resources to build public-private partnership (PPP) infrastructure. It is noted that the main task of public authorities today is to create a favorable environment for doing business, efficient use of resource potential, identifying priorities in social, economic and environmental processes and prospects of development of the territorial community, taking into account its needs and interests.

Attention is drawn to the fact that public-private partnerships in the form of concessions are becoming increasingly popular in the world, as this form of interaction between the private and the public partner creates significant added value for both parties. One of the greatest achievements of concessions is that it solves state tasks by private capital, which is considered to be the most cost-effective state. At the same time, the private partner receives long-term financial interest, which allows him to ensure the maximum efficiency of the solution of the task set by the state or the municipality. The expediency of using public-private partnership in forming the tool for sustainable development of territories as an important tool for ensuring sustainable development of territories is substantiated.

References

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PDF Downloads: 8
Published
2020-04-07
How to Cite
Khadzhyradieva, S., Vasylieva, N., Vasylieva, O., & Kyrtoka, M. (2020). PUBLIC-PRIVATE PARTNERSHIP AS AN IMPORTANT TOOL OF SUSTAINABLE DEVELOPMENT OF TERRITORIES. Public Administration and Regional Development, (7), 253-269. https://doi.org/10.34132/pard2020.07.12