Unique Opportunities of Russian Jurisdiction: Evolution of Mechanisms for the Legal Protection of Business

Despite attempts by unfriendly countries to rewrite the rules of the game in the geopolitical arena, Russia remains committed to the existing foundations of international law and is engaged in mutually beneficial cooperation with states that are members of BRICS and the Shanghai Cooperation Organization. In an effort to strengthen economic ties, Russia signed a comprehensive strategic partnership agreement with the Democratic People’s Republic of Korea this year, and the leaders of Russia and China issued a joint statement on intensifying relations as part of their comprehensive partnership and strategic interaction. At present, Russia is implementing a new model of economic growth and actively developing its heavy and manufacturing industry, agriculture, and tourism. The country is paying particular attention to the breakthrough development of the Far Eastern Federal District, which is of strategic importance for ensuring stable trade turnover in the Asia-Pacific region. In order to achieve Russian President Vladimir Putin’s goal of ensuring higher economic growth rates, Russia is implementing a unique set of measures of state support for enterprises, creating essential infrastructure, introducing new digital mechanisms to help reduce time costs and administrative barriers, and optimizing production chains and processes. The regulatory guillotine that is being introduced has significantly reduced the number of mandatory requirements for entrepreneurs and eradicated tens of thousands of redundant and outdated norms and rules. Prosecutors are directly involved in this work in order to systematically protect the rights of business entities, promote the establishment of an easy, understandable, and internally consistent regulatory framework, offer supervisory guidance for all the different types of support that are being provided, and encourage entrepreneurial initiative, including when authorizing control and supervisory activities. Balancing the interests of the state, society, and business in this manner will make it possible to mitigate the consequences of negative foreign policy factors as much as possible. What path has the Russian legal system traversed in recent years? What is unique about the mechanisms that have been developed to protect bona fide businesses, including in territories with special economic regimes? How does the proactive nature of prosecutorial supervision affect the creation of comfortable conditions for entrepreneurs? What measures are being taken to reduce the administrative burden? How can we ensure the security of the information technologies that are being introduced? What could help boost the confidence of foreign investors? What else needs to be done?