Opens another way for the construction of new kindergartens, sports halls and roads. Russian President signs the law on PPP

Russian President Vladimir Putin signed the federal law "On public-private partnership, municipal-private partnership in the Russian Federation and the Amendments to Certain Legislative Acts of the Russian Federation". Law №224 from 13 July 2015 will enter into force on 1 January 2016 (except for certain provisions). Federal law on PPP adopted in Russia for the first time, before that were only regional laws, which were often just for a framework.

About the new opportunities that opened the federal act says Tatarstan Investment Development Agency Chief Executive Taliya Minullina (is also the person in charge from the Republic of Tatarstan for organization of interaction with a Committee of the group of experts in the UN European Economic Commission on the development and promotion of PPP international standards):

"Public-private partnership - is, in fact, investing "in debt", which is aimed at solving social problems. As a rule, within the PPP  there is investment in facilities, which provide livelihoods of the country, cities, villages. For example, the Russian company (by the law only Russian legal entity may be the private partner in the PPP) is building a sports complex. For, say, 15 years, this facility is owned by the state, and after that time the company that built the complex becomes the owner. The state is advantageous in that are socially significant facilities is built with private funds, not public. "Private trader", in turn, takes advantage of the facility and after the expiration of the term the object goes in his property. Obviously, this is a mutually beneficial deal.

Now, when the President signed the federal law the development of public-private and municipal-private partnerships will move in the next level. Accordingly, an investment development of the country, the country, regions and villages will be activated, will be created new socially import objects.

The law gives a lot of opportunities that need to be implemented".

TIDA Press Service