PPP in Russia – a need or desire?
Over 60 regions of the Russian Federation have by now adopted their own laws on public-private partnership (PPP). At the same time, the only federal act regulating PPP relations is the law “On concession agreements” which does not fully reflect the diversity of PPP forms.
On June 4, 2013 the State Duma held parliament hearings on the topic of “Legislative basis for developing PPP in Russia: key issues to be regulated by the fundamental federal law.” Members of the Government of the Russian Federation, as well as heads of relevant ministries, deputies of the State Duma and members of the Council of the Federation of the Federal Assembly, heads of regions of the Russian Federation, leading specialists and experts of Russian and international consulting firms – all took part in the hearings. The participants discussed additions to the draft law concept “On fundamentals of public-private partnership in the Russian Federation” approved by the State Duma in its first reading on April 26, 2013.
Capital Legal Services summarized all comments and amendments to the draft law for purposes of preparing the final version for its second reading in the State Duma. Capital Legal Services’ legislation work was focused on creating the necessary legal conditions for PPP in Russia. Relying on its experience in legal support for PPP projects, Capital Legal Services proposed a number of amendments to the draft law aimed at increasing the interest of private investors, including foreign ones, in participating in PPP projects. Pavel Karpunin, Partner, Head of Project Finance and PPP, made a presentation of Capital Legal Services’ position at the parliament hearings.