A new Level of Quality will be Ensured for Public-Private Partnership

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Kapahovvi petowt`yown-masnavor hatvats hamagortsakts`owt`yan hamar orakakan nor hart`owt`yown_29899

 The executive has approved the "State-Private Partnership Policy of the Republic of Armenia". By the same decision, the RA Ministry of Economic Development and Investments has been tasked with elaborating and submitting to the government staff a draft law resulting from the document. 

 

According to the justification, the Government of the Republic of Armenia has undertaken commitment to forming a solid, comprehensive and systemic approach to the PPP transactions and to the development of a solid foundation for their implementation in Armenia. The goal of the Government is to promote the development of Armenian companies in line with international best practices through the promotion of economic and social development in Armenia through the consolidation of the strengths and capabilities of the private sector, while simultaneously engaging in contemporary technologies, identifying bilateral commitments and risk allocation. Additionally, PPP implementation will enable the country to develop infrastructures, attract foreign direct investment, and focus on the private sector financial and not just financial capabilities, and effectively implement and maintain public-private dialogue.

 

 

The Government has made amendments and additions to the previous decision. Accordingly, the heads of commercial attachments and trade representations are also recommended to appoint persons with a professional experience in various sectors of the economy. The amendment envisages expanding the field and enabling a trade representative to be appointed from the private sector, who will have some entrepreneurial experience.

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