CONCESSIONS - TERM, CHARACTERISTICS AND TYPES

Abstract

In legal theory and science, there are no consistent opinions about the origin and creation of concessions. The prevailing opinion is that they were created in ancient times and that the development of this institute, although not in its present form, could be traced back to the period of the creation of Hammurabi's code, ancient Rome and Greece. The term itself has also changed, while today, according to our current legislation, concession is defined as the right to perform economic activities using public goods, natural resources and other goods of general interest, as well as the right to perform activities of general interest, in accordance with by law, and that right is assigned to the concessionaire for a certain period of time, under conditions prescribed by law, with the payment of the concession fee. The aspiration of regional connection and economic integration into the European Union also brings the need to invest in large projects. Underdeveloped countries and countries in transition do not have large investment funds, and therefore have the need to engage foreign capital to realize their goals and satisfy their interests.