The role of public-private partnerships in financing infrastructure projects

Samira Yakubova,Nodirjon Shovkatov,Nuriddin Avazov,Sevara Yunusova,Nargiza Shaislamova,Sherzodbek Murodov,A Zheltenkov,A Mottaeva

doi:10.1051/e3sconf/202128407018

Abstract

Poor infrastructure quality hinders the country's stable economic growth and competitiveness in international markets. The quality of life declines when the infrastructure is underdeveloped. Public-private partnership allows attracting additional sources of funding and receiving additional privileges from the state. Public-private partnerships in infrastructure benefit the economy, national politics, the private sector, as well as the population. The article examines the features of the formation and development of public-private partnerships in the development of the national economy of the Republic of Uzbekistan. The directions of innovative development are selected. The problems that require solutions for the continuous development of an innovative economy are identified. The aim of the study is to reveal the essence of public-private partnership in infrastructure, analyze the current state and its role, place in the economy of the Republic of Uzbekistan. The object of the research is economic relations in relation to public-private partnerships associated with the process of communication between the state and interested individuals, legal entities and international organizations. The subject of the research is the economic, social, legal aspect of the functioning of the forms of public-private partnership in the implementation of the functions of the state. The methodology laid the foundations for general scientific methods, general logical methods of cognition, systemic, logical, analysis, synthesis, deduction and induction, modeling and other methods. Based on the results of the study, conclusions were drawn to increase the attractiveness of PPP implementation in infrastructure.

Highlights

Infrastructure is a set of structures, buildings, systems and services that allow the economy to function and provide living conditions for the population
The World Bank estimates that a 10 percent increase in financial investment in infrastructure translates into a 1 percent increase in economic growth
Using the toolkit of empirical and general logical methods, one can see a complete picture of the positive qualities of infrastructure projects, both for the state and for the private sector

Summary

Introduction

Infrastructure is a set of structures, buildings, systems and services that allow the economy to function and provide living conditions for the population. The World Bank estimates that a 10 percent increase in financial investment in infrastructure translates into a 1 percent increase in economic growth. From 2001 to 2008, the cost of infrastructure projects implemented all over the world using the mechanism of public-private partnership amounted to about 843B3 billion dollars. The public-private partnership mechanism promotes the most effective participation of the private sector in public projects [4, 5]. In PPP projects, the state retains ownership and participation in the private sector project. Under natural monopolies that supply consumers with products and services at low prices and meet the volume of demand with economies of scale This includes utilities, rail infrastructure, the national fiber optic network, and others [6]

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