Public-private
partnership as the basic mechanism of innovative development of economy
Tazhiyeva S.K., Tynabekova G.N.
Al-Farabi Kazakh National University, Kazakhstan, Almaty
One of the priorities in the framework of the State
program of forced industrial-innovative development of Kazakhstan for 2014-2019
is to provide effective interaction between the state and business in development
of priority sectors of the economy. The creation of innovations, project
implementation and production require concentration of a large number of
resources in the enterprise that are often not under force to small businesses.
Therefore, at present one of the conditions of economic development an
effective innovation policy, which is based on the equal public-private
partnership and aimed at uniting the efforts of government and private business
on development of innovative activity [1].
Public-private partnership is one of the main
economic-organizing mechanisms of enhancing innovation activity in the country,
attracting long-term investments [2].
Public-private partnership is a recognized tool of
interaction of business and government. It allows you to attract private
investment to solve a wide range of socio-economic tasks on the basis of
adequate and fair sharing of responsibility and benefits.
In public-private partnership greater role to the
entrepreneur. He should be interested in the development and implementation of
innovations at the enterprise. Innovative activity of domestic enterprises
still remains at a low level. States, made necessary to adopt a system of
measures to increase the motivation of private business, engaging him in the innovation
process. It is necessary to take measures to stimulate the flow of private
investment, creation of tax incentives for investors that Finance R & d and
companies introducing domestic technology. Currently, the country has
established certain tax benefits for research organizations. But today, it is
important to stimulate not only offer development services, but also the demand
from the private sector. Today there are practically no tax incentives to
increase the demand for science — those privileges, as declared in the Tax
code, not the work suffers from the lack of a mechanism of tax administration.
Available in the Tax code benefits involve
compensation only for corporate tax in the amount of 7.5% R & d costs and
do not actually work due to the lack of clear procedures of tax administration.
In foreign countries created the effective practice of tax incentives. For
example, the deduction of expenses on research and development from taxable
income are in the US, 16 % in Canada in Singapore this indicator can reach 100
%.
In Kazakhstan according to the statistics of science
funding the private sector does not exceed 10 %. Government-funded scientific
and technical programs with great difficulties find application in practice.
For comparison: in developed countries, over 60% of scientific research is
funded by private companies.
In the sphere of innovations the most important area
of public-private partnerships should be purposeful implementation of the
measures for involvement in the innovation process academic universities and
business in the formulation of priorities for public funding of basic and
applied research.
Capacity-building in PPPs, as a rule, includes
training and other measures that extend the capabilities of governments to
implement effective and meaningful way is already developed and working botany
program PPP. The PPP is a fairly new concept for Kazakhstan, the number of
running projects is still insignificant. The main projects implemented in the
field of construction of transport infrastructure no projects in the fields of
health and education — the most developed in foreign countries applications of
PPP.
For the realization of priorities of innovation
development requires large-scale involvement of the real business in
development of priority sectors. Illustrative is the experience of Poland,
which is currently adopted in the implementation of investment projects in the
electricity sector (renewable energy), and waste management. The state's role
is to balance business interests with national priorities and short-term
tactical priorities with long-term strategic prospects.
The development of innovative PPP projects is
impossible without the involvement in the process of science. The development
of science in the framework of the mechanisms of state and private partnership
may be extended along the following directions:
–
implementation of joint research and innovation
projects, organization of
joint scientific
publications and the participation in competitions for national and international
grants;
–
training for managers, the creation of centers
for advanced studies, a joint test centers;
–
enhanced linkages with business, participation in
processes of commercialization of new ideas and technologies, introduction of
new technologies into production.
The result to be achieved the transformation of the
science sector in the effective component of the national innovation system of
the country. And the main task of scientific-technical policy of the state
should be ensuring the concentration of resources (including the resources of
private investors) on priority directions of innovative development [3].
The transition of our country with raw materials to
innovative way of development can help venture capital and public-private
partnerships. The development of venture business in Kazakhstan, in our view,
largely based on new models of public-private partnerships.
So, to attract investment in the "sowing"
stage (seed) to perform a special seed-funds that, depending on sources of
funding can be public, public-private or private. In Kazakhstan there are
projects to research in knowledge-intensive industries on the basis of which is
possible in the long term, the organization experienced, and then serial
production parts and equipment in the space industry, who said at the budget
financing.
However, these projects, for one reason or another,
cannot be financed by the Republican budget, also they are funded at the
expense of the sectoral departments. In our opinion, these projects can be
successfully financed sectoral or regional public-private venture capital Fund,
if any, would be organized.
In view of the availability of high risks, venture
financing, usually is attractive only to certain categories of investors.
In market economies, which include Kazakhstan, the
composition of potential sources of capital for the venture capital industry is
the same as in developed countries, but the distribution densities of these
sources in the total volume of investments in venture capital funds varies
considerably. If in developed markets are major sources of capital funds are
pension funds and insurance companies, in the countries with market economy the
center of gravity is shifted towards the public sector and institutional
investors. For PPP development and venture capital financing in Kazakhstan
should:
–
The provision of the legal framework of venture
capital financing in Kazakhstan;
–
Creation and promotion of sectoral and regional
public-private venture capital funds;
–
The legislation of Kazakhstan it is necessary to
identify typical risks for investment projects and to define the risk matrix
that will allow to balance risks and timely identification of responsible
parties.
Statistics the probability of success of the
development of the venture capital firms that received funding:
–
On average, only 6 breakthrough high-tech
business ideas turn into million business, achieve success and go for an IPO.
–
Less than 20% of firms that received venture
capital funding, become liquid.
–
60% of high-tech firms that received venture
capital financing, end their operation due to bankruptcy.
–
30% of venture firms as a result come to merge
with other companies or liquidation.
–
10% of venture firms succeed and thereby
compensate for the loss of 90% of the firms collapsed [4].
There are certain relationship between the processes
of the development of innovation and venture business. On the one hand, the
innovative activities there are conditions conducive to the development of
venture business. On the other — a business venture as its development, has a
stimulating effect on innovation. According to information of Agency on
statistics of Kazakhstan, 2015 year on research and development work spent
69302,9 billion. Of them 40424657 thousand tenge (58.3 per cent) at the expense
of the Republican budget, 25356647 thousand tenge (36,6%) — at the expense of
own funds of enterprises, 1254664 thousand tenge (1,8%) is due to foreign
investment, 1972508 thousand tenge (2,8%) – by other means.
According to the same source, in 2015 Kazakhstan
implemented the innovative products worth 377196,7 million tenge, including
"products of the newly introduced or underwent considerable technological
changes" — by 76%, "the products subject to improvement" — 7%.
In Kazakhstan venture financing was developed since 2003-2004 In 2003
established the national innovation Fund (now the National Agency for
technological development NATD), with which there are 7 domestic venture
capital funds. In the absence in Kazakhstan of the law of venture capital
financing, the concept of "venture capital investment" is not clearly
defined. At the same time, USÀ venture capital investment in high-tech (high-tech)
or innovative companies, not listed on the stock exchange [5].
Kazakhstan should develop its own strategy to hold on
the crest of scientific and technical progress, the basis of which should be a
balanced state support of science-intensive, innovative industries and
technologies. The measures of state support and promotion of private
investment, including in the PPP will contribute to sustaining economic growth,
reducing dependence of the economy on raw material sectors due to the active
development of small and average business, increase of its gross domestic
product to 50% by 2050. The use of the private sector in the implementation of
PPP projects the most advanced technical solutions, innovative technologies
will improve the development of socially-oriented sectors of the economy and
production.
Sources:
1. The state program of forced industrial-innovative
development of Kazakhstan for 2010-2014, dated March 19, 2010 ¹ 958. — Astana,
2010.
2. Eroshevich, E. Public-private partnership in
scientific-technical sphere // Science and innovations. — M., 2009. — No. 12. —
P. 51-55.
3. Zholdasbayev S. Innovative industrialization.
Mode of access: nif.kz/1904? page=25.6
4.
http://lsm.kz/innovatsii-v-kazahstane-nuzhno-vnedrit-cherez-venchurnoe-finansirovanie-i-gchp.html/karibaeva-aliya-2
5. www.stat.gov.kz