The President of the Republic of Azerbaijan, Mr. Ilham Aliyev, approved the Law «On Public-Private Partnership». The law consists of 8 sections and 40 articles.
The text of the PPP Law was published on the official website of the President on December 27, 2022.
According to the relevant Decree on the implementation of the PPP Law, the Cabinet of Ministers should, in agreement with the President of the Republic of Azerbaijan, approve the rules of public-private partnership within six months.
The Ministry of Economy of the Republic of Azerbaijan was instructed to participate in the formation of state policy in the field of public-private partnership and ensure its implementation together with the relevant state bodies, and also, in order to implement public-private partnerships, take the measures provided for in the new PPP Law. The Ministry of Economy is designated as the authorized body in the field of public-private partnership, as well.
At the same time, from the date of entry into force of the new Law and the abolition in this regard of the BOT Law of the Republic of Azerbaijan, the provisions of the Civil Code of the Republic of Azerbaijan and the Law «On Investment activity» will be applied to contracts concluded on its basis.