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Law No. 691-VIQ on public-private partnership.

Country/Territory
Azerbaijan
Document type
Legislation
Date
2022
Source
FAO, FAOLEX
Subject
Land & soil, General
Keyword
Basic legislation Contract/agreement Business/industry/corporations Public private partnership (PPP) Sustainable development Lease Ownership
Geographical area
Asia, Caspian Sea, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, Western Asia
Abstract

This Law determines the organizational, legal and economic bases of the implementation of activities in the field of public-private partnership. The goals of the state policy in the field of public-private partnership are listed in Article 6, as follows: (I) increasing the efficiency of the use of state funds; (II) improving the efficiency and quality of public services, increasing their accessibility; (III) stimulation of sustainable development of individual sectors of the economy; (IV) increasing the volume of private investments involved in different areas of the economy, including foreign direct investments; (V) construction and management of socio-economic and business-oriented infrastructure; (VI) creation of new jobs, as well as provision of opportunities for balanced development of regions; (VII) increasing the export of competitive products; and (VIII) increasing efficiency and transparency in the economy. Article 4 states that public-private partnerships should be implemented on the basis of the principles of the rule of law, protection of free competition, improvement of transparency and efficiency, equality of rights of claimants, and maintenance of the balance of interest and risk between the parties.

Full text
Azerbaijani
Website
e-qanun.az