Trends in the Legal Regulation of Public Private Partnership at the International and National Levels

INTRODUCTION. Currently, most States have specific legislation on PPPs. However, national legislative conditions for the implementation of PPPs has similarities as well as significant differences. The transformation of PPP conception which is offered internationally in the context of achieving Sustainable Development Goals, generates new law trends in the field of PPPs as well as impacts on regulation of PPPs. With growing integration, including legal, it is crucial to ensure to ensure the optimal interaction of Russian legislation on PPPs with international PPP standards and the legal framework of PPPs of other states. This determined the purpose of the study, which consists in identifying and comparing trends and best foreign practices in the legal PPPs regulation with Russian PPPs legislation with the aim of determining ways for its further development. Research objectives: to identify the main trends in PPP regulation at the international and national levels in the context of the main shortcomings and gaps of the Russian PPP legislation; determine the conditions for a more informed choice of foreign models of legal regulation of PPPs to improve Russian legislation; summarize the best practices of legal regulation of PPPs at the international level and in comparable foreign legislation; on their basis, formulate proposals that can be considered and used when amending Russian legislation on PPPs.

MATERIALS AND METHODS. The material for this study was Russian and foreign legislation on PPPs, model acts and decisions of international organizations, assessments of the European Bank for Reconstruction and Development and the World Bank regarding the level of compliance with national legislation and international PPP standards, as well as Russian and foreign scientific works in the field of PPP, materials of judicial and law enforcement practice. The methodological basis of the study covers the general scientific (the method of logical and system analysis, the dialectical method, the methods of deduction and induction) and the private scientific (comparative legal, formal legal, interpretative) methods of cognition.

RESEARCH RESULTS. The study reached the following conclusions. The international trend of PPP regulation as a means of achieving the SDGs was not reflected either in Russian legislation on PPPs, or as a mechanism to achieve Russia's national development goals or an instrument for implementing national projects. The approaches to the regulation of key terms for PPP projects, including the object composition of PPPs, sources of financing and return on investment in PPP projects, the terms of PPP agreements, guarantees and measures of state support for PPPs, tools for resolving disputes in PPPs also do not coincide with international trends and the best foreign models of regulation of these relations and need optimization.

DISCUSSION AND CONCLUSIONS. In order to establish a favorable legal framework for PPPs in Russia, the improvement of PPP legislation should be carried out in accordance with international and foreign trends in the legal regulation of PPPs. At the same time, consideration and selection of models of legal PPP regulation should be carried out taking into account the factors that determine the mechanism of legal regulation of PPP in various states. According to the author, the factors include the type of legal system of the state, the membership of the state in international and regional organizations, the level of economic development of the state, the degree of its participation in the regulation of the economy and private sector. Assessments of the international organisations in regarding the level of compliance of foreign PPP legislation with international PPP standards is also important. Based on these findings, the article presents proposals on areas for improving Russian legislation on PPPs.

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