Strategy for the Development of Public-Private Partnership in the Context of Global Changes

Abstract

In modern science and practice, public-private partnership is the interaction of the public and private sectors: in a broader sense, any cooperation in various spheres of public life, supporting society with entrepreneurship and strengthening its social role. The intensification of the process of public-private partnership development is due to the steady growth of demand for public services and increased attention of a wide range of people to optimise their provision. Today, public-private partnership has become an important tool for attracting investment to create a modern public service infrastructure. The purpose of this study is to examine possible strategies for the development of public-private partnerships in the context of decentralisation. The methodological basis of the presented research is a combination of theoretical methods: information synthesis and analysis, classification, systematisation. In addition, an analysis of the scientific literature on the research subject was conducted during the study. In particular, articles on public-private partnerships were analysed. As a result of the study, the general trend towards decentralisation of power and reform of local self-government was established, which means transferring more powers to local state structures, where the state, represented by a territorial community, becomes one of the main subjects. It is proved that partnerships between local communities and business structures, including foreign ones, considerably expand the competence of local authorities, in particular, attract investment in the development of urban infrastructure. Based on the analysis of European experience and considering the specific features of Ukrainian legislation, the most acceptable forms of cooperation between the state and companies were identified: private partnership investment agreements, asset management agreements, leases, concessions, and joint venture agreements. The practical value of the study is that the highlighted results will be useful for public and private sector managers