Green light for investors
- Service: Project financing / Public-Private Partnership
- Date: 15.05.2013
This June the Russian lower Parliament – the State Duma – will examine the draft Federal Law “On basic principles of public-private partnership in the Russian Federation” in the second reading. The purpose of the draft law is to create a favorable legal framework for attracting private investments into the public infrastructure sector. The document is expected to open the gateway for private investors to implement regional projects.
“The draft law is above all aimed at implementing projects in areas that are traditionally the government’s responsibility (transport services, health care, education, housing management, etc.),” clarifies Pavel Karpunin, Partner and Head of Project Financing and PPP practice at Capital Legal Services. “The new draft of the law will determine the basics of government regulation of PPP, powers of the Russian Federation, the Russian regions and municipal entities in the course of implementing PPP agreements,” adds Pavel.
Capital Legal Services is part of the group working on this draft law. The company is one of the few Russian law firms originally involved in forming the PPP mechanism in Russia. Lawmaking is an integral part of activities of Capital Legal Services. The Company’s attorneys participated in developing the Civil Code, the Federal Law “On concession agreements,” legislation in transport and PPP legislation.
Subject to its existing experience of providing legal support for PPP projects, Capital Legal Services offers a range of amendments to the draft law that are aimed at ensuring an opportunity to make actual use of the new law in practice. Capital Legal Services attorneys took an active part in public discussion of the draft law, following which the company was assigned the task of summarizing all received comments and amendments to the draft law in order to prepare the wording of the draft law for the second reading at the State Duma.