Problems of legal regulation of concession agreements

Abstract

Investing in concession projects currently requires investors to be rather decisive. There are practically no effective mechanisms for protecting investors, despite the fact that concession agreements are most commonly used at emerging markets, which were previously the prerogative of the state. The proposals of state authorities today do not imply amendments to draft concession agreements. State authorities have no intention to enter into negotiations with the auction winners. Practically, concession agreements are used as accession agreements, any improvement in the terms of the concession agreement after the auction may lead to the refusal to sign. The main trend in the field of concessions is that concessionaires are not ready to participate in state and municipal concession projects, and the existing legal and other risks lead to negative consequences not only for stakeholders but also for the population as a whole. The research methodology is a combination of general scientific and particular scientific (logical-legal, comparative-legal, legal modeling) methods of cognition. The conclusions are of practical importance and can be used to develop methods for improving the legal regulation of concession agreements.