Implementation of public-private partnership in the Russian federation

Abstract

The evolution of relations between the institutions of state and entrepreneurship in developed and developing countries at various stages of economic development has proved that their constructive interaction is a critical factor for successful socio-economic development. The constantly increasing gap between the needs and requirements of the population to public services, infrastructure, and budget constraints have resulted in the development of state-business partnership structures. The transforming role of the state in the economy necessitates the importance of finding alternatives to direct regulation of economic processes. One of them is the institute of public-private partnership (hereinafter referred to as PPP), which allows attracting additional resources to the economy, redistributing risks between the state and the business sector, directing entrepreneurial efforts to address important social and economic goals and objectives while maintaining the powers and functions of the state. Foreign experience shows that the implementation of PPP projects ensures significant cost savings.