Պետություն-մասնավոր գործընկերությունը որպես ենթակառուցվածքների զարգացման խթան / Public-Private Partnership as a Promotion for Infrastructure Development

Abstract

Public-Private Partnership (PPP) is widely recognized in the world as an effective mechanism contributing to the implementation of significant public programs, particularly in infrastructure formation, development, and service provision. This paper highlights the crucial role of public-private partnership in the development of infrastructures, and also emphasizes the importance of combining material, financial, human resources of both the state and private sectors. It argues that public-private partnerships are effective because they leverage private sector technologies and innovations while utilizing public sector incentives, acknowledging that government funds alone cannot finance all infrastructure maintenance and development projects. As a result of combining state and business resources within the implemented projects, additional competitive advantages are formed, and risks are distributed between the state and business entities. In the Republic of Armenia, where public financial resources are limited, there is a decline in the quality of services provided to the population and a number of obligations carried out by the state. In the current situation, the importance of PPP formation and development is undeniable, which in the long run will lead to a stable qualitative growth of infrastructures and provided services. The authors presented the PPP programs implemented in some sectors of the RA economy, identified their features. The findings of the study allowed us to conclude that the implementation of PPP programs in our country can also become the pillar of innovative development of production and social infrastructures.