Some Aspect of Legal Regulation of Special Economic Zones in Russia

Abstract

The authors analyze the Russian and international experience of functioning of territories with special legal status. The multiple advantages of establishing and developing of such territories in the country in the short-term and long term are noted. On the basis of the analysis of the Federal Law “About special economic zones in the Russian Federation” and the other normative legal acts, the advantages and the shortcomings of the legal regulation of the creation, management and closing of the special economic zones are revealed. The factors defining a set of privileges for the foreign investors in various territories with special legal status and also the conditions of the effective work of the special economic zone of industrial and production type are considered. The authors support their analysis of the legislation with the description and comparison of economic indicators of work of two special economic zones of industrial and production type in the Volga Federal District. The authors also consider jurisprudence on the controversial issues arising in the connection with the establishment of special economic zones. The article comes to the end with the consideration of possible prospects of the territories with special legal status transformation.