Russian government approves draft law on public-private partnership - Belousov

The Russian government approved a draft law on public-private partnership on Thursday, Economic Development Minister Andrei Belousov said at a briefing following the meeting.

The current law on public-private partnership is restricted by the law on concessionary agreements, Deputy Economic Development Minister Sergei Belyakov said.

"But the specifics of the concessions imply that this mechanism isn't suitable for all projects, and many investors couldn't enter into these projects on the basis of concessionary agreements," Belyakov said, explaining the necessity of the new draft law.

The State Duma might review this draft law in its spring session. If it is adopted, "we will launch specific agreements and projects for which there is demand and which investors are also ready to implement, because the draft law creates tools that guarantee return for investors and stable terms of investment, and it allows federal subjects to adopt their own laws," Belyakov said.

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