PROTECTION OF THE RIGHTS OF THE PRIVATE PARTNER IN CONCESSION RELATIONS

Abstract

This article provides a comprehensive legal analysis of the mechanisms for protecting the rights of private partners in public-private partnerships, particularly in the context of concession agreements, taking into account recent amendments to Ukrainian legislation. The relevance of the study stems from the need to develop effective legal instruments for attracting private capital to the implementation of infrastructure and socially significant projects in the context of Ukraine’s post-war recovery and the deepening of European integration processes. Particular attention is paid to the analysis of the provisions of the Law of Ukraine “On Public-Private Partnership” and the updated Law of Ukraine “On Concessions,” which establish a new model for the legal regulation of partnership relations between the state and the private sector.

Particular attention is paid to the systematization of legal guarantees for the protection of the concessionaire’s rights, as provided for in Article 48 of the Law of Ukraine “On Concessions.” A classification of these guarantees is proposed, dividing them into regulatory and legal, operational and organizational-managerial, financial and property, and contractual guarantees. The content of such mechanisms as the guarantee of legislative stability, the principle of favorable changes, compensation mechanisms in the event of negative impacts from legislative changes, the prohibition of unlawful interference by government authorities in the concessionaire’s activities, as well as guarantees of state support and reimbursement of investments in the event of early termination of the concession relationship, is elaborated.

It is concluded that the new legislation creates a more predictable and stable legal environment for the implementation of public-private partnership projects, which will contribute to increasing the investment attractiveness of concession projects. At the same time, the need for further research into the practical application of new legal mechanisms and the assessment of their effectiveness in the implementation of infrastructure projects in Ukraine is emphasized.


References

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