PPP projects investments in Slovakia have new dimension

Financing of PPP projects is from 1st of February 2017 in Slovakia under budget control. Each subject which wants to develop PPP project with public sector which value is higher than 100 000 Euro or more than 250 000 Euro during year in case of progressive implementation has to register as partner of public sector. This obligation is coming from new law Act no. 315/2016 on the Register of Public Sector Partners and on Amendments to Certain Acts. This law is a major step towards gaining transparency on where public resources are going and who has the greatest benefits from public sector trade. Register is obligatory and subjects which do not fulfill this obligation will be fined. This registration can be done only by advocate, auditor, tax adviser or notary. There are also specialized advocacy offices which focus on conditions and regulations coming from Law of Public Sector Partners. Comming from the fact that PPP model is getting to be more popular, this law should be the right tool for sustaining transparency of financial operations with the public sector and rise trust towards this financial model.