BAKU, Azerbaijan,The draft law “On public-private partnership” has been submitted for discussion at today’s plenary session of the Milli Majlis (Parliament), Trend reports citing Azerbaijani Parliament.

In accordance with paragraphs 11, 12 and 13 of Part I of Article 94 of the Constitution of Azerbaijan defines the organizational, legal, and economic framework of the public-private partnership.

The draft law reflects many innovations. The authorized body will establish and manage an electronic database on public-private partnership projects, conditions and criteria for selection of the winner of the tender, the basic conditions of the contract, preparation and implementation of public-private partnership projects, including projects under implementation and completion within the contract of public-private partnership, reports on the status of the projects.

Also, the authorized body shall have the right to monitor the status of the fulfillment of obligations under the public-private partnership agreement in accordance with the rules of public-private partnership.

The incentives, tax and other state payments, additional financial support, guarantees, exemptions and compensations provided for by the law “On Investment Activities” will be applied to the public-private partnership project as well.

After the discussion, the draft law was put to the vote and adopted in the first reading.

Source: TREND News Agency