Today at a press conference in the Government of Kazakhstan, representatives of the Kazakhstan Public-Private Partnership Center JSC told about the expansion of public-private partnership within the framework of the implementation of the Address of the Head of State "Third Modernization of Kazakhstan: Global Competitiveness".

According to Talgat Mataev, Deputy Chairman of the Board of Kazakhstan Public-Private Partnership Center JSC, two years have passed since the adoption of the law on PPP. At the moment, 547 projects of public-private partnership for a total of 880.2 billion tenge were registered, of which 116 contracts are already at the stage of conclusion, the remaining 431 — at various stages of planning and implementation.

"The law on PPPs is valid for two years. Time has shown the efficiency of the PPP institution itself and now the existing mechanisms need to be improved," Talgat Mataev said.

In order to spread the PPP mechanisms, a lot of work has been done, wishes of businessmen have been taken into account and more flexible tools for the development of partnership have been developed. All recommendations are reflected in the new draft law "On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on Improving Budget Legislation". The bill has been approved by the Majilis and is currently in the Senate of the Parliament.

The main goal of these changes is to expand the opportunities for businessmen to become a partner of the state and to implement important social projects in a shorter period of time.

According to the bill, the mechanisms for the modernization of PPPs include nine items. Adoption of amendments to the Law and attraction of investors will expand the structural portfolio of PPP projects. Today, the largest number of PPP projects is implemented in the spheres of education and health.

Aidos Kobetov, Vice President of JSC Kazakhstan PPP Center, told about the forthcoming first Kazakhstan forum on PPP "Life hacks. Best Practices", which will be held on November 29-30, 2017, in Astana. Both Kazakhstani businessmen and foreign investors from South Korea, Turkey, and other states interested in our country will take part in the event.

For reference: the Law "On Public-Private Partnership" was adopted on October 31, 2015. The main goal of PPP is the development of infrastructure in the public interest by combining the resources and experience of the state and business, implementing socially significant projects with the lowest costs and risks, upon condition of providing high-quality services to economic entities. The advantages of such a partnership for the state are saving budget funds, introducing corporate governance of PPP facilities and infrastructure development. The private sector, consequently, receives state support, direct agreements, protection of the sequester, cover of currency risk and international arbitration.