Sergey A. Pravkin. Implementation of the mechanism of public-private partnership in the transport sector

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Sergey A. Pravkin - Candidate of Law, docent, associate professor of the department of administrative law, ecological law, information law, Law Institute of the Russian University of Transport (MIIT)

Abstract. The article deals with the problems of financing and co-financing in the implementation of investment projects in the framework of public-private partnership in the transport sector. As a public-private partnership is considered to be one of the important tools for infrastructure transformations, the author explores the mechanism to coordinate public and private interests to implement socially significant projects. There is being conducted a comparative legal analysis of transport and investment legislation in relation to public-private partnership agreements. Accordingly, the implementation of the mechanism of public-private partnership in the transport sector is being also analyzed. The article discusses the means to implement the investment policy, the models of risk distribution between the state and private business. The author justifies the importance of organizational and legal guarantees for a private partner, as it is the main methodological and procedural means and conceptual approach of the study to protect the investor from adverse changes in national legislation. Structural development of the transport system according to the Transport Strategy of the Russian Federation for the period up to 2030 is connected with the need to develop various forms within the framework of signed agreements on public-private partnership. The author proposes measures and forms of interaction between public authorities and investors to implement transport projects with a long payback period. The attention has been paid that implementation of public-private partnership in the transport sector and the implementation of structural reforms in all modes of transport result in the decentralization of management and an increase in the share of private capital. In the implementation of the Transport Strategy, the use the public-private partnership mechanism can reduce the budget burden by attracting private investment in socially important sectors of the economy. This approach is a factor in the market demonopolization and can ensure competitive procedures in transport projects. The mechanism of public-private partnership in transport allows attracting real investment, protecting the domestic market, since only a Russian legal entity can be a private partner. Improvement of the mechanism of public-private partnership in the transport industry expands the possibility of transport campaigns to participate in investment activities. According to the analysis of the current transport and investment legislation, the article concludes that there is a certain imperfection in the implementation of the public-private partnership mechanism in transport, including the insufficient use of fiscal policy measures. Budget allocations in accordance with the budget classification should be synchronized with the plans for the implementation of investment agreements, taking into account the effect of limits of budgetary obligations. The main problems in the implementation of this mechanism are not fully concerted substantive and procedural and legal aspects. In this regard, it has been proposed to use the methodological basis of financial and budgetary regulation for high-quality coordination and execution of projects from both sides.

Keywords: investment projects; public-private partnership; budget classification; public law and private law regulation; transport complex; competition.


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