Concession as a Form of Implementation of Public-Private Partnership Projects in Ukraine and World-Wide

• Main Author: Shuliuk Bohdana S.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2021-02-01
• Series: Bìznes Inform
• Subjects: financing of long-term projects; public-private partnership; concession; sectors of the economy; the state support
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2021-2_0-pages-56_61.pdf

The article is aimed at examining the peculiarities of implementation of public-private partnership concession projects in various sectors of the economy in both Ukraine and the world. The main approaches to understanding the essence of the concept of «concession» are considered and its characteristic features are defined. The procedure of operation of the concession mechanism is disclosed. Risks of public-private partnership participants in the process of implementation of concession projects in Ukraine are determined. The need to provide the State support to stimulate the participation of a private partner in long-term projects is substantiated. It is specified that such support should be provided in order to implement the most necessary public-private partnership projects to significantly improve the living conditions of the population in a particular region. It is determined that, unlike Ukraine, the concession mechanism is actively used in various sectors of the world economy, in particular, successfully implemented projects in the transport sector (roads, railways, ports, airports, pipeline transport), housing and communal services (water supply, water purification, electricity supply). At that, the transport industry dominates, while heat supply and waste treatment are the least popular. Prospects for further research in this direction are the search for ways to improve the domestic concession mechanism in the process of implementing public-private partnership projects, taking into account the best achievements of world experience. This will allow to attract financial resources of business in various forms of cooperation in terms of public-private partnerships, and, consequently, to improve the quality of services provided to the population.