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Law No. 379-VI “On public-private partnership.”

Country/Territory
Turkmenistan
Document type
Legislation
Date
2021
Source
FAO, FAOLEX
Subject
Environment gen., General
Keyword
Public private partnership (PPP) Sustainable development Business/industry/corporations Contract/agreement Research
Geographical area
Asia, Caspian Sea, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia
Entry into force notes
This Law enters into force on the date of its official publication.
Abstract

The objectives of this Law are to regulate relations in the field of public-private partnership, as well as the creation of legal conditions for the concentration of material, financial, intellectual, scientific, technical and other resources, ensuring a balance of interests and risks, attraction of funds from extra-budgetary sources for the implementation of projects, plans and development programs related to infrastructure facilities. Public-private partnership shall be intended legally formalized for a certain period mutually beneficial cooperation between public and private partners, based on combining their resources for the preparation and implementation of a public-private partnership project. State partner shall be Turkmenistan, on behalf of which operate executive bodies, as well as other bodies (organizations) authorized by the Cabinet of Ministers of Turkmenistan. Private partner shall be intended a legal entity (except for a legal entity, in the authorized capital of which a share, exceeding 50 percent belongs to the state), foreign organization and natural persons engaged in entrepreneurial activity without forming a legal entity - an individual entrepreneur who is a party to a public-private partnership agreement. The basic principles of public-private partnership are: (a) the rule of law; (b) the social orientation of the regulation of economic activity; (c) fair competition; (d) ensuring a balance of interests and risks between public and private partners; (e) equality of rights for public and private partners; (f) environmental protection; (g) transparency of rules and procedures in the implementation of public-private partnerships; and (h) the effectiveness of public-private partnership projects. The main directions of state policy in the field of public-private partnership are: (a) stimulating economic growth and ensuring sustainable development of Turkmenistan; (b) implementation of state programs in the field of public-private partnerships; (c) assistance in the formation, restoration, operation, maintenance of socio-economic infrastructure; (d) improving the quality of operation and maintenance of socio-economic infrastructure; (e) digitalization and improvement of the quality of public services, as well as expanding access to them; (f) creating conditions for attracting private sector finance, including foreign investment; and (g) state support for scientific research, the introduction of modern methods and technologies for the development and improvement of the institutional and legal foundations of public-private partnerships. This Law consists of IX Chapters divided into 38 Articles. Chapter I lays down general provisions. Chapter II establishes state regulation of public-private partnerships. Chapter III determines the parties to public-private partnership agreements, rights and obligations thereof. Chapter IV regards initiation and preparation of the projects of public-private partnerships. Chapter V regards selection of a private partner. Chapter VI defines public-private partnership agreement. Chapter VII establishes guarantees of the rights of private partner and creditor. Chapter VIII regards monitoring and reporting of project implementation of public-private partnership. Chapter IX lays down conclusive provisions.

Full text
Russian
Website
minjust.gov.tm