The EEC has tools of public and private partnership to attract investments
On November 2, 2016 in Pavlodar (Kazakhstan) within the framework of the international investment forum "ERTYS INVEST-2016," the Director of the Entrepreneurship Development Department of the Eurasian Economic Commission Baurzhan Bekeshev reported on additional guarantees for investors under the provisions of the Treaty on the Eurasian Economic Union.
Apart from Baurzhan Bekeshev, section "Public and private partnership as a new way to attract investments in the economy” was also attended by representatives of Gomel region of the Republic of Belarus, Ministry of national economy of the Republic of Kazakhstan, the Foundation for entrepreneurship development “DAMU”, business and expert communities.
According to Baurzhan Bekeshev, given the budgetary constraints, the mechanism of public and private partnership (PPP) becomes utterly important as the main tool to attract investments to the economy of the region. The PPP will ensure funding for capital-intensive long-term projects.
The EEC representative offered to finance joint projects with an integrational effect, a wide range of support measures of the Eurasian Development Bank, as well as the possibility of subsidizing and underwriting the Foundation for entrepreneurship development “DAMU” for PPP small projects.
"The legislative and institutional framework in the field of PPP is being developed in the EAEU countries now, and a good base of skilled professionals is being formed, but there is a need for coordination at supranational level. Therefore, the Eurasian Economic Commission at the initiative of the Member States has used its efforts at consolidating competencies of experts in this field in the Union Member States," said Baurzhan Bekeshev.
The Entrepreneurship Development Department of the EEC has been monitoring the formation of the legislative framework in the field of PPP, as well as development and implementation of plans for harmonization of the regulatory and methodological framework.
An expert group has been established under the Advisory Committee on entrepreneurship under the EEC Board, which deals with the development of PPP mechanisms in the Union. One of the main tasks of the group is to enable the competent authorities of the EAEU countries to share their experiences in addressing the problems arising during the implementation of projects in the field of public and private partnership.
Press-release at the official Eurasian Economic Commission web-site