Concession forms of state property management in the sphere of subsoil use - a prospect for the development of resource industries in Russia
- G.V. Plekhanov Saint Petersburg Mining Institute
Abstract
Radical changes in economic conditions in Russia have led to the need to attract large investments in long-term projects for the development of new fields. This should have been facilitated by the law "On Production Sharing Agreements". However, the mechanism proposed in the law did not ensure a balance between the interests of the state (the owner of subsoil resources) and investors in the implementation of capital-intensive projects in the sphere of subsoil use. A positive contribution to the formation of a truly effective mechanism of subsoil use could be made by the development and adoption of legislation on concessions. This would allow not only to attract investors, but also to ensure the development of regional economies on the basis of new technologies.
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