Advanced development territories: high risks and the need for an active sectoral policy of the State
Importance To optimize the evolving process of Russia’s territorial development, it is necessary to analyze risks and opportunities of creating territories of advanced social and economic development. Objectives The objective of the research is to analyze risks the State is exposed to when establishing the territories of advanced social and economic development in the Far East. Methods The research involves examining regulatory and legislative documents, working documentation of certain projects to be implemented in the territories of advanced social and economic development. The research draws on my communication and interaction with parties involved in the process (residents, representatives of regional and federal authorities, experts). Results In my opinion, if territories of advanced social and economic development are organized, it will give certain impetus to the economic development of the Far Eastern regions. Residents of the advanced development territories will enjoy the following benefits: substantial tax benefits, State finance of infrastructure, tax preferences, migration preferences, and opportunities for close cooperation with the State through a managing company. However, the State is exposed to rather high risks in embarking on the process. First, the risks are associated with effective spending on infrastructure and regulation of the managing company’s activities. Second, the Federal budget is limited in relation to reimbursement of income regional and municipal budgets lose. Furthermore, these and other risks become more probable due to expedited drafting and editing of regulatory documents, and performance of feasibility studies of projects. Conclusions and Relevance To mitigate the risks, I assume it is necessary to consider the territories of advanced social and economic development as a special environment for achieving governmental objectives, rather than a ‘goal in itself’. Therefore, governmental objectives should be publicly formulated in the sectoral context, and a program for achieving them should be set forth using capabilities of the advanced development territories and supporting activities, with some of them described in the article.