PUBLIC-PRIVATE PARTNERSHIP AS THE BASIS OF UKRAINE’S INNOVATION STRATEGY FORMATION

Abstract

Drawing on global experience, the utilization of public-private partnerships has proven effective in fostering diverse forms of development, including innovation, technology, economy, and infrastructure. Numerous successful projects serve as evidence that the collaboration between the private and public sectors can address pressing issues and execute intricate, all-encompassing plans that would be challenging for either party to achieve alone. The key lies in establishing a balance of strengths and weaknesses within this partnership, enabling the joint implementation of selected projects. While the public-private partnership mechanism forms a foundational element for the country’s logistics infrastructure development, the cause-and-effect relationship primarily hinges on the pace of progress in such collaborative endeavors, although this connection is not obligatory. In certain developed nations, there is a noticeable absence of practical collaboration between the private and public sectors in 63 project implementation. This lack is attributed to concerns about fostering corruption mechanisms and favoring the interests of specific participants, which contradicts the country’s developmental objectives. In such instances, logistics infrastructure projects are executed through the public sector, and in some cases, they prove successful. While public-private partnership is not the sole means to ensure a country’s development, it emerges as one of the most effective strategies when employed correctly. Moreover, being a versatile tool, it can address related projects concurrently without fixating attention on a singular objective, thereby achieving a genuinely comprehensive impact. Despite the evident drawbacks of public-private partnerships, these can be overcome through the establishment of a robust legal framework, a standardized relational system, and a clear delineation of rights and responsibilities. This approach facilitates the creation of relationships grounded in trust and equality. The significance of the chosen research topic becomes apparent during the formation of an innovative, effective influence of the public-private partnership mechanism on infrastructure development.