Azerbaijan to expand benefits for public-private partnership projects

By Trend

Public-private partnership projects will be subject to benefits, exemptions and compensation, Trend reports citing Azerbaijani Parliament (Milli Majlis).

This issue was reflected in the new draft law "On public-private partnership", which was considered at the first reading at today's meeting of the Parliament.

According to the draft law, public-private partnership projects will be subject to incentives provided by the law "On investment activities", as well as tax and other state payments benefits, additional financial support, guarantees, exemptions and compensations.

The private partner, upon agreement with the body (institution) determined by the relevant executive authority, may be provided by the state with the following state support and guarantees provided by the list of tender conditions, including organization of supply of goods, materials, raw materials, equipment for implementation of the public-private partnership project; provision of subsidies and (or) loans; provision of exclusive rights to provide services, perform works, sell products on the territory of Azerbaijan or part thereof; compensation for costs incurred and lost profits stipulated by the public-private partnership agreement.