Public-private partnership as a basic institutional precondition for capitalization of natural resources in terms of decentralization

The article deals with the necessity to substantially reform the institutional provision of partnership relations between the state (territorial community) and business organizations regarding the usage of natural resources in terms of decentralization of power and local governance reform. Public-private partnership is considered as a promising form of using natural and economic assets being in public and municipal ownership in economic turnover. Institutionalization of the public-private partnership agreements is considered to be an essential prerequisite for capitalization of natural and economic assets. It is suggested how to expand the list of fields of application of public-private partnership agreements (forestry assets, local mineral-and-raw potential, water resource facilities). The expediency to clearly identify all the possible forms of establishing relations between a state (municipal) and a private partner based on implementation of best foreign practices is grounded. The necessity to spread public-private partnership agreements as a factor for economic and financial self-sustainability consolidation of territorial communities in terms of decentralization and local governance is substantiated.