Development Problems of Investment Legislation in the Russian Federation at the Present Stage
The current investment legislation of the Russian Federation is unsystematic and controversial. This is due to the complex nature of the relevant legal norms, which are within both public law and private law. The article aims to examine the specific current development issues of Russian investment legislation and to identify possible ways to solve them. It also defines the composition, subject and method of investment regulation. The research is based on general research methods (analysis and synthesis, induction and deduction, system analysis) and methods of legal science (methods of literal, systematic, teleological and historical interpretation of legal norms). The subject, method and composition of investment legislation relating to different branches of public and private law are disclosed. The main development issues of the investment legislation system are considered and directions for the latter's further improvement are proposed. There is a critical analysis of the main draft laws in the investment sphere, such as “On the Protection and Promotion of Investments and the Development of Investment Activities in the Russian Federation”, “On Preferential Business Regimes in the Russian Federation”. The paper concludes that there is an unjustified mix of private and public law principles in the investment regulation within existing laws, where public law principles excessively prevail. It is proposed to regulate separately investment relations with state participation by special normative acts of both general and special nature (for example, a unified law on agreements concluded with the participation of public law entities in the investment sphere). Private legal investment relations should remain in the field of civil law regulation with the possible expansion of investment instruments which private investors can use for investment.