ACTIVATION OF INVESTMENTS IN THE RUSSIAN TRANSPORT INFRASTRUCTURE THROUGH PUBLIC-PRIVATE PARTNERSHIPS


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Abstract

The paper substantiates the need for extra budgetary funding of Russia's transport infrastructure development through public-private partnerships. Based on the analysis of transport infrastructure indicators for the period of years 2011–2014, implementation of the main transport production facilities the conclusion was made on the insufficient level and quality of development of transport infrastructure caused by the lack of funding, lack of private sector participation in the investment processes of the transport industry. Data about investments for the period of 2011–2015 and the forecast period of years 2016–2020, about the largest investment projects in various transport areas (with their distinctive features) have allowed to confirm the need for increased use of public-private partnership mechanisms. The author explains the reasons for the active development of relations of public-private partnership in transport infrastructure. The work particularly focuses on the implementation of public-private partnership in port operations that are particularly important in the transport sector of the Far East of the Russian Federation. The paper provides a brief description of the major investment projects for the port infrastructure development in the Far East region and presents a block diagram for public-private partnership implementation in the port infrastructure consisting of four aggregated blocks (feasibility study of the practicability of a public-private partnership with procedures of investment scoring, legal registration of relations between subjects of public-private partnership, determination of transport and operational parameters of the port facility, financial support for public-private partnership). The study led to the conclusion that the use of public-private partnership will solve the priority task of creating a modern transport infrastructure in Russia at the optimal budget allocations, ensuring high quality of the constructed facilities and their effective operation.

About the authors

Tatiana Aleksandrovna Levchenko

Vladivostok State University of Economics and Service, Vladivostok

Author for correspondence.
Email: tat_levchenko22@mail.ru

PhD (Economics), Associate Professor, assistant professor of Chair of international business and finance

Russian Federation

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