Deputies of the Senate (upper house) of the Kazakhstan Parliament passed the Law “On Public-Private Partnership”, Zakon.kz informs.
The purpose of the Law is to create conditions for effective long-term cooperation of the Government with business entities by combining their resources for sustainable social and economic development of the country and the implementation of socially significant tasks.
As noted in the report of the Committee, this is the basic law governing the common terminology and fixing the main approaches to the implementation of projects related to public-private partnership (PPP).
In particular, the Law sets out the objectives, principles and features specific to public-private partnership. At the same time it determines guarantees for the rights and interests of PPP parties, the forms of their participation in such projects and measures of state support in the implementation of public-private partnerships.
"The participants of public-private partnership are the Government, entities of quasi-public sector on the one hand and business on the other hand, as well as financial institutions that provide financing of these projects," – the report says.
In addition, the Law defines the qualification requirements to potential private partners that they should meet on order to participate in the competition, as well as conditions of the tender and the procedure for concluding the PPP agreement. In the meantime, the competition can be conducted both according to a simplified procedure with the use of standard bidding documents and under a standard agreement of public-private partnership (mainly for local projects), and with the use of two-stage procedures where the object of public-private partnership is unique and technically complex.
“According to this draft Law, the public-private partnerships are going to be implemented in all economic sectors, with the exception of objects that can not be transferred for the implementation of public-private partnership projects, a list of which is determined by the President of the Republic of Kazakhstan, due to a strategic objective to attract investments”, - the Report says.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
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