PUBLIC-PRIVATE PARTNERSHIPS IN THE REFORM OF PUBLIC INVESTMENT MANAGEMENT

Abstract

The article discusses and analyses the problems associated with the reform of public investment management (lack of funding, inefficient allocation of funds and outdated infrastructure, etc.) The author emphasises the need for this public investment reform, as it is strategically important for solving infrastructure problems and stimulating economic development. Ukraine's significant infrastructure needs and limited budgetary resources require a concerted effort to improve public investment management. Infrastructure investment is critical to boosting economic growth. The transformation of public investment into valuable assets largely depends on how effectively all types of public investment are managed.

To create an effective management system, it is important to unify terminology to standardise approaches to investment regardless of funding sources or levels of government. The article highlights the role of public-private partnerships, which play a key role in updating investment policy, as they allow private capital and expertise to be involved in infrastructure projects. Public-private partnerships also help to distribute risks between the state and the private sector, which reduces the financial burden on the state budget and promotes more efficient use of resources. For Ukraine, this is particularly relevant given the limited budgetary resources and the need to rebuild infrastructure. In addition, one of the central advantages of public-private partnerships is the ability to increase the efficiency of project management by attracting highly qualified specialists and technologies from the private sector. This helps to improve the quality of services, shorten lead times and reduce costs. The introduction of PPPs in the public investment management model also encourages government agencies to optimise processes and modernise control and accounting systems.