(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 3. The bill 'On
public-private partnership' was discussed at the Azerbaijani
Parliament's plenary session on December 2, trend reports.
In accordance with Paragraphs 11, 12 and 13 of Part I of Article
94 of the Constitution, the Law determines the organizational,
legal, and economic framework for public-private partnership
activities.
According to the bill, the authorized body will establish and
manage an electronic database on public-private partnership (PPP)
projects, terms and criteria for choosing the winner of the
competition, the main terms of the contract, preparation and
implementation of PPP projects, and reports on the project
implementation status. The authorized agency is entitled to monitor
the fulfillment of obligations stipulated by the public-private
partnership agreement in accordance with the PPP.
Furthermore, public-private partnership projects will be subject
to incentive measures envisaged by the Law 'On investment
activity', tax benefits and other government payments, additional
financial support, guarantees, exemptions, and compensation. The
maximum term of a PPP project will be 49 years.
Following parliamentary discussions, the bill was put to the
vote and adopted in the second reading.
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