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Belarusian investors grow increasingly interested in public private partnership

Economy 12.09.2018 | 14:27
Dmitry Krutoi
Dmitry Krutoi

MINSK, 12 September (BelTA) – The interest of private Belarusian investors in participation in public private partnership projects has risen. The statement was made by Belarusian Economy Minister Dmitry Krutoi during the international conference held on 12 September to discuss the role of public private partnership projects in reaching the Sustainable Development Goals and raising living standards, BelTA has learned.

Dmitry Krutoi stressed that public private partnership is considered to be a most important instrument of the investment policy. “For the last three months we've worked very hard with the regions in order to determine what projects and in what spheres will meet the strongest interest from the point of view of introducing public private partnership instruments. Three sectors are in the lead: housing and utilities industry, healthcare, and education,” he said. “We want each of the country's seven regions to sign at least one agreement based on public private partnership principles by 2020. It is a good sign that private Belarusian investors show a huge interest in it. We were initially betting on foreigners after all.”

As an example the economy minister mentioned proposals of Belarusian investors to create an international cardiological center in the city of Miory and to carry out an integrated real estate development project in the Ozertso residential area not far from Minsk. “We need more proposals like that,” stressed Dmitry Krutoi.

A public private partnership law was adopted in Belarus in 2015. It was amended on 31 July 2018: the scope of public private partnership has been extended onto the entire infrastructure, including privately owned infrastructure; functions of the state partner have been expanded and specified; two kinds of tenders (two stages and three stages) have been introduced; guarantees have been stipulated and rights of private investors have been expanded. The amendments will come into force on 1 February 2019.

The international conference going on in Minsk is meant to get its participants familiar with the international experience and the best managerial practices in the area of implementation of infrastructure projects and the development of the public private partnership mechanism for the sake of reaching the Sustainable Development Goals and raising living standards. Panel discussions are held to discuss infrastructure development as part of the implementation of the Belt and Road initiative, the place of international development institutions and the banking sector in the implementation of public private partnership projects. Taking part in the conference are heads of government agencies, international financial institutions, banks, representatives of the private sector, the scientific and academic community, public organizations and associations. The conference has been organized by the National Agency of Investment and Privatization, the Economy Ministry, and the United Nations Economic Commission for Europe.

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