Theoretical aspects of concession as an economico-legal category

Abstract

Contemporary processes of globalization and internationalization of national economies, as well as strengthening of trends of integrations on a regional scale mean that some huge infrastructural investments are necessary, especially those in the areas of transportation, energetics, telecommunications, water supply etc.

Large-scale investments require enormous funds, which are not at disposal for many countries. In the first place, we are talking about underdeveloped countries, as well as those undergoing the process of transition. In order to provide investments in the aforementioned infrastructural areas, these countries are in demand of foreign capital, which gives way to making a concessionary arrangement as a very appropriate form of engaging private funds of foreign (and domestic) capital.

The paper deals with some basic aspects of concessionary arrangements, which can be of significance for realization of basic objectives of the socio-economic development country contributing to its more successful fitting into contemporary integrative trends.