8.5. Preferential Regimes: Division in the Conditions of Unification

Friday, May 17
13:30 - 15:30

Hall #2, General Staff Building (6-8, Dvortsovaya sq.)


More than 10 years in Russia there are special legal regimes that provide their participants with exemptions from the current legislation – special economic zones, special administrative areas, regulatory sandboxes, special investment contracts, etc. In the absence of any unified approach to the legal regulation of this ecosystems often investors face difficulties in the implementation of activities in the conditions of contradictory and overlapping investment legislation.

In addition to the redundancy of types of preferential regimes, unsystematic legislative regulation, terminological differences, the most important problem is the unresolved issue of the possibility of combining preferences in the implementation of investor activities simultaneously in several regimes. For example, the absence of a territorial link between the activities of international companies registered in special administrative regions allows such companies, on the one hand, to receive preferences established for a particular territory of the region, and on the other, to carry out activities throughout Russia, while the establishment of the regime implies a focus on the development of the territory in which it operates.

These and other barriers lead to a decrease in the financial interest of investors in the implementation of investment projects and, in general, make it possible to state the inefficiency of the current regulation. Meanwhile, in the world practice, such regimes are an effective tool for stimulating the development of the economy of individual regions and the state as a whole.

During the round table, leading Russian and foreign experts, representatives of public authorities and interested businesses will discuss the problems associated with the establishment of special legal regimes for individual business entities, to develop approaches to reforming the current regulation in order to solve the identified problems, based on the best international practices.

Points for discussion

  1. Investment policy direction. Where should the course be: unification or differentiation of regulation?
  2. The justification for the existence of a large number of investment regimes and the problem of exceptions from general legal regulation: identifying the extent to which the introduction of separate legal regimes leads to the degree of fragmentation of legislative regulation, which raises the question of the need for its unification.
  3. Regulatory sandboxes and general legal regime. The balance between the principles of freedom of contract and optionality and the creation of separate legal regulation for individuals.
  4. The investor’s obligation to conclude a contract to receive benefits under the investment regime: theory and practice of establishing individual exceptions to the general legal regulation.
  5. Antitrust risks: the constitutional principle of equality and the problem of creating preferences for separate markets.
  6. Evaluation of the effectiveness of preferential regimes: necessity and justification. Quantitative and qualitative criteria: impact on further unification of investment legislation.
  7. Conflict of laws issues and sectoral regimes: the possibility of localizing relations related to the creation of crypto assets and its turnover within the same jurisdiction.


Maksim Bashkatov

Director of Private International Law and Comparative Law Research, International and Comparative Law Research Center


Pavel Volkov

State Secretary – Deputy Minister for the development of the Russian Far East and Arctic Region

Eduard Gudkov

Deputy Chairman of the Management Board, NOVATEK JSC

Bartlomiej Lukasz Gliniecki

Assistant Professor of the Faculty of Law and Administration, University of Gdansk

Arkadiy Mayfat

Professor, Ural State Law University

Florian Heindler

Assistant Professor at the Faculty of Law, Sigmund Freud Private University Vienna

Dmitry Stepanov

Associate Professor of the Faculty of Law, Higher School of Economics

Ekaterina Smirnova

Нead of Competition and Antitrust practice, Ivanyan & Partners

Natalya Sheveleva

Professor – Acting Head of Administrative and Financial Law Departmentat, St. Petersburg State University

* The Programme may be subject to change