STATE REGULATION OF CONCESSIONS AS AN ELEMENT OF NATIONAL ECONOMIC INFRASTRUCTURE DEVELOPMENT

Abstract

The article considers the directions of state regulation of the concession as an element of infrastructure development of the national economy. Methods of state regulation of infrastructure development through a set of regulatory tools are substantiated. The interpretation of the concepts – "public-private partnership", "concession" is studied. It is proved that the undisputed leader in the value of implemented public-private partnership projects in European markets is the sphere of infrastructure, and in quantitative terms – the sphere of education. At the same time, as can be seen from international practice, the most common form of public-private partnership projects is a concession. Amendments to the legislative support of the concession mechanism made it possible to clearly define the criteria for evaluating bids: the internal rate of return, the reliability of the financing mechanism, the cost of investment, the amount of possible state support. The possibility of a wide range of state support instruments is enshrined in law. The main role of the state in the development of infrastructure in the modern economy is to identify benefits for the end user, assess the socio-economic effects of infrastructure development and develop effective tools for the strategic perspective. The latter include: adoption of strategic infrastructure decisions by companies with state participation, regulation of monopoly sectors in terms of infrastructure development, formation of inter-level national and regional instruments for effective infrastructure development, formation of clear and transparent institutions in existing and new transport markets. Infrastructure should not be created for the sake of infrastructure, ie the main emphasis should not be on quantitative indicators – kilometers of new roads, railways, increasing the capacity of seaports and so on. The latest infrastructure in general and each project in particular – should be tied to specific results in terms of user satisfaction and contribution to achieving the goals and specific objectives of socio-economic development of the country. The feasibility and priority of transport projects and regulatory changes should be assessed through the prism of contributing to accelerating economic growth and concrete positive changes for users. This does not mean that all transport projects should be decided solely in terms of stimulating economic growth – many projects have purely technological or social aspects. But the highest priorities should be those that increase the productivity of the economy, its investment attractiveness, make a significant contribution to the development of human capital.