PUBLIC PRIVATE PARTNERSHIP

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The growing need to build new public infrastructure, invest into projects of general interest, and provide services of public interest in Serbia has required the creation of a legal and institutional framework for attracting private investment.

November 2011 thus saw the adoption of the Law on Public-Private Partnership and Concessions (Official Gazette of the Republic of Serbia, No. 88/11). This Law introduced the concept of public-private partnership into the Serbian legal system for the first time. National and local authorities will also for the first time be able to fulfil their needs for infrastructure and delivery of public services under this model and with clearly set rules of conduct.

Public-private partnership entails long-term co-operation between a public and a private partner in order to provide finance, construction, reconstruction, operation or maintenance of infrastructure and other facilities of public interest, and to provide services of public interest. Such partnerships may be either contractual or institutional.

Public-private partnerships should be economically efficient and socially responsible. The value obtained for the funds invested should be greater than the value that would have been obtained by using the “traditional” investment model (i.e. funding from the budget).

The Public-Private Partnership Commission was established by the Government as an inter-departmental, operationally-independent public body to ensure technical assistance is provided in the implementation of public-private partnerships and concessions.

NEWS AND ANNOUNCEMENTS

GOVERNMENTUSAID

● The Commission for Public Private Partnerships ●

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