Significance of Methodological Management Principles for Infrastructural Economic Development Projects

Introduction

Throughout the world, to achieve global sustainable development, it is necessary to promote social, economic, and environmental development. On the part of the governments of all countries, it is necessary to engage in level management so that, with coordination and planning, the set goals are harmonized with infrastructure projects, the realization of which has a positive effect on national competitiveness. One of the key factors that are a determinant of economic benefits and competitiveness is the transport infrastructure. Transport infrastructure is a key driver of economic benefits and competitiveness. In connection with the financing of infrastructure projects in the Western Balkans, the EU created the Western Balkan Investment Framework in March 2023, as well as the Economic Investment Plan (EIP). By realizing the financing of investment projects in areas such as sustainable transport, digital infrastructure, and clean energy, the improvement of infrastructural, socio-economic, and regional development would be achieved, and the acceleration of the European perspective of the Western Balkans. In Serbia, for many years, economic development was based on sectoral priorities, while politics was oriented towards short and medium-term goals, which is not in line with long-term balanced regional development. Within the framework of EU regional policy, the competence for its planning and implementation belongs to the General Directorate for Regional Development of the European Commission, while at the level of member countries and candidates such as Serbia, the policy is implemented by competent state and public institutions. The countries of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, and Serbia) do not have a sufficiently developed infrastructure in transport, energy, and telecommunication networks compared to EU countries. According to Vaslavskiy & Vaslavskaya (2019), due to the existence of state budget deficits, insufficient funding, and slowing down of economic growth, the improvement of infrastructure is a significant driver of development. For the long-term development of the national economy, adequate management of stable development with the use of government administrative resources and the use of funds from private investors in the field of public infrastructure is important (Vaslavskiy & Vaslavskaya, 2019). In Serbia, the Law on Public-Private Partnerships and Concessions, based on the principles, regulates the obligations and responsibilities of actors: protection of public interest, efficiency, transparency, free market competition, the autonomy of will, and equality of contracting parties’ reform momentum. An infrastructure project is a project facility or system of facilities with equipment (or without it), which consists of the phases of spatial and urban planning, preparation of technical documentation, construction, and use. The partners are obliged to assume any risk to manage optimally risks during the duration of the PPP project, and to apply managerial, technical, financial, and innovative abilities, especially concerning taking the risk of demand or the risk of availability of the facility, service, or infrastructure.