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Under the conditions of sanctions, the development of petrochemical production in Under the conditions of sanctions, petrochemical production development in Russia is especially important both from the point of view of high-grade products growth with increased margins and the need to increase demand for hydrocarbons within the country with a decrease in export supplies. The purpose of the study is to analyze the existing and identify the main possible incentive measures of state support to enhance investment activities in modernization and creation of new production facilities of Russian petrochemical complex. Methods such as generalization, analysis and synthesis, classification and modeling were used in the work. As a study result, main problems and challenges facing the industry have been identified. Priority areas of oil and gas companies’ activity necessary for petrochemistry accelerated development, positive examples of cooperation in the field of gas processing and gas chemistry, as well as industrial clusters creation have been presented. Project financing mechanisms of the state corporation VEB.RF have been analyzed. The need to attract competent specialized Russian EPC contractors from the register recommended by VEB.RF for implementing projects in the field of petrochemistry has been explained. Using the example of methanol production and its use as a raw material for high-grade products creation, importance of long-term contractual relations between the state and business, such as agreements on protection and promotion of capital investments and special investment contracts, has been shown. The need to ensure continuity of state support measures at all stages of creating and implementing technologies for developing and improving petrochemical products has been formulated.

16. Balandina A.S. Analysis of theoretical aspects of tax benefits and tax preferences. Vestnik Tomskogo gosudarstvenogo universiteta = Tomsk State University Journal, 2011, no. 4 (16), pp. 105–110. (In Russ.). 17. Danilova V.V. Tax preferences: the concept, types, goals and procedures for obtaining. Oplata truda: bukhgalterskii uchet i nalogooblozhenie, 2022, no. 4, pp. 19–26. (In Russ.). 18. Wells D.A. The Theory and Practice of Taxation. New York, D. Appleton and Company Publ., 1900. 666 p. 19. Chua A.T. Precedent and Principles of WTO Panel Jurisprudence. Berkeley Journal of International Law, 1998, vol. 16, iss. 2, pp. 171–196. 20. Belousov A.L. Preferential regimes for conduct of business: regulation problems and law improvement areas. Khozyaistvo i pravo = Economy and Law, 2022, no. 10, pp. 30–41. (In Russ.). 21. Belousov A.L. Legal aspects of formation and development of special investment contracts in the Russian Federation. Legal Bulletin, 2022, vol. 7, no. 4, pp. 9–16. (In Russ).The subject. The preferential tax regime provided to the participants of special investment contracts has been functioning in the Russian legal system for about 8 years. Despite the systematic "fine-tuning" of its legal regulation, taxpayers still face the legislative gaps and contradictions of separate normative provisions entailing tax risks. It seems appropriate to put forward the hypothesis that the existing tax treatment of the participants of special investment contracts is not devoid of these drawbacks, especially in terms of regional regulation, and could be improved. Purpose of the study. The article represents an attempt to verify the aforementioned hypothesis and deals with selected provisions of the Russian legislation regulating preferential tax regime for participants of special investment contracts, which in addition to the Russian Tax Code includes the Federal Law "On Industrial Policy in the Russian Federation", regional and municipal normative legal acts. Methodology. The methodological basis of this study are general scientific methods (analysis and synthesis, induction and deduction), private scientific methods (interpretation of legal acts), as well as content analysis, study of reports and analytical references of governmental organizations. The main results. The study revealed that the Russian legislation, mainly regional and municipal, is not fully developed. As a consequence, the preferential tax regime for the participants of special investment contracts cannot efficiently function on the entire Russian territory. Also, the regulatory framework adopted at the federal level uses incorrect terminological apparatus in terms of defining tax support measures available to participants of special investment contracts, which entails tax risks for them. Conclusions. The revealed drawbacks of the preferential tax regime for participants of special investment contracts can be leveled by means of point-by-point amendments to the federal legislation. To this end, the authors of the present study propose specific steps to overcome these drawbacks.

This article is dedicated to the study of production localization problem which became especially topical in conditions of new challenges characterized by the unprecedented strengthening of sanctions regime towards Russian economy and predetermining the necessity to create national manufacturing chains of full cycle, reconfiguration of the sectoral policies, transformation of business models in context of strategic goals of the import substitution. The purpose of the article is to generalize and evaluate international experience of localization of production, as well as to analyze the state of this process in the branches of the Russian manufacturing sector, which since 2014 has been under the action of the blocking and sectoral sanctions of the collective West. In the research process, a complex of general scientific methods was used, including: analytical, logical, monographic, interpretation, synthesis, as well as a method of graphical visualization. Methodological base of the study includes the set of classical and neo-classical concepts of the spatial organization of the economy, theory of innovative growth and cluster development. Fragmentary overview of production localization international experience is given. We have carried out analysis of mechanisms of the state industrial policy, contributing to the problems solution of the localization and import substitution, taking into account strategic priorities of Russia. The advantages of localization in practice of special investment contract (SPIC) conclusion were systematized. Its sectorial features in automotive industry, power engineering industry and aircraft building were stated. We have made a conclusion about the necessity of forming of effective localization strategy, overcoming of declarative character of import substitution in the key spheres of real sector of Russian economy which will help to solve the problems of national security provision and technological independence. Practical significance of the results of the study consists in the possibility of its use in the sphere of program and project management and development of strategies of national and regional levels development.

The increasing volume of construction financing, dictated by the national development goals of the Russian Federation, determines the increased role of rational choice of methods, mechanisms and tools of financial support for construction in order to make managerial decisions on the implementation of projects aimed at achieving the targets within the declared national development benchmarks of the Russian Federation. The aim of the study is to summarise and simplify the current methods, mechanisms and tools of financial support for construction within the framework of project implementation. A review of the current model of financial support for construction in the Russian Federation has been carried out. The main aspects of how to finance construction have been considered. A brief description of the main conditions of the envisaged mechanisms and instruments of financial support for construction has been provided. The analysis confirms the positive trend of the current construction financing model in the project implementation, creating conditions to stimulate the economy by reallocating funds to the real sector and providing a variety of tools in choosing construction financing methods to make rational management decisions on project implementation. The results of this study can be used by public authorities involved in the allocation and use of funds, financial institutions and other stakeholders to prepare management decisions on construction financing in project implementation.

Realizing the role of investments for the implementation of the policy of economic growth and increasing the monetary income and savings of the population, it is proposed to develop the development budget in the regions as an independent target monetary fund as part of the consolidated budget of the subject of the Russian Federation and a tool for activating investment processes. The authors substantiate two options for the formation of its income based on the state of the economic potential of the region and inter-budgetary relations in the country. The article argues for the need to reflect in the development budget tax expenditures corresponding to the amount of incentive tax benefits provided by the sub-federal government to investors. The analysis of the forms of state support for investment projects in the Rostov region that are in demand by business – tax incentives, “engineering” subsidies, special investment contracts-allowed us to formulate a set of measures to improve tax legislation. The full functioning of the development budget is impossible without its consolidation in the Budget Code of the Russian Federation, as well as simplification of the mechanisms for providing tax instruments that stimulate investment processes, maintaining the stability of tax legislation, and expanding the tax independence of the state authorities of the subjects of the Russian Federation.

European countries have traditionally been Russia’s key economic partners. Mutual interest is based on geographical proximity, historical ties and also by the complementarity markets. Mutual sanctions spread over recent years has called into question Russia – European Union partnership and cooperation established by Agreement in 1994. This article reviews the current status of Russia – EU and its member states relations. Also the article contains analysis of mutual trade, economic and investment cooperation, economic and diplomatic ties of partners during periods of mutual rapprochement (before 2014th) and the subsequent cooling of relations. Conclusions on current Russia – EU and its member states relations. Also the article contains analysis of mutual trade, econ Europe relationship made in this article are based on a comprehensive analysis of official statistics of bilateral trade and investment cooperation between Russia and foreign countries. Current data shows the importance of the European direction for our country. This article also discusses possible ways to improve the efficiency of interaction between partners at the present stage.

The most complete realization of the export potential of the Russian forest industry on the world market provides for the implementation of a strategic scenario for the development of the industry. The article analyzes the reality of achieving forecast indicators of priority areas for non&resource export of forest products. To stimulate investment in timber production, the authors proposed the use of a special investment contract mechanism, which has already found application in other sectors of Russian industry.

The article substantiates the importance of industrial policy as one of the basic institutions shaping the institutional environment of any country. We demonstrated that institutional factors for accelerating the processes of social and economic development are more important for the Russian economy than for the world economy. We revealed institutional innovations in scientific support of implementing industrial policy priorities. In modern conditions, the basic institution of development is fundamental science. From these positions we analysed institutional innovations in the field of fundamental science. Then we described the innovations that allow industrial policy’s tools to maintain the direction of development. This direction is defined and shaped not only by «big challenges», but public needs, too. The analysis demonstrated that nowadays industrial policies around the world aim to support the development of digital technologies. We considered the stages of the digital economy’s development. Then, we hypothesised that a particularly important consequence of digital transformation is the formation of the prerequisites for changing the entire system of social relations defining the state’s institutional framework and industrial policy’s economic content. We emphasised that the development of the sharing economy (as one of the new trends in the world economic development) will significantly influence the change of industrial policy’s priorities and tools. The analysis of the use of the industrial policy’s tools in Russia showed the effectiveness of using the Industrial Development Fund (IDF). Furthermore, we structured the expected conceptual changes of the terms for concluding Special Investment Contracts (SIC). The analysis of the distribution of loans from IDF and SIC revealed a large discrepancy between the activities of the regions in obtaining the aforementioned loans. We noted there is a high probability of unpredictable consequences of digital technologies not only in the economic development of society, but also in the possible transformation of the universal «lifeworld». Finally, we emphasised that in the context of the digital state’s formation, the search for a balance between technological and moral and ethical aspects in the processes of implementing industrial policy becomes urgent.

The article presents the results of studying the formation, the current state and prospects for the development of public-private partnership (PPP) in the fuel and energy sector in Russia. The authors consider the existing mechanisms of interaction between the public and private parties in the projects of the fuel and energy complex, including so-called quasi-PPP projects, i.e. relevant PPP on economic content. Such projects include production sharing agreements, special investment contracts, etc. Within the framework of the article, the authors highlight the main problems of the functioning of public-private partnership instruments and consider trends in the use of PPPs for the development of the fuel and energy complex in Russia

The economic condition of the Russian Federation, the actual and perspective financing of process of import substitution are briefly considered.

The article is devoted to main instruments of the new Russian industrial policy and import substitution industrialization, which is a determinant factor for Russian industry development in current economic conditions. The article is concerned with historical parallels of import substitution industrialization and comprehensive application of its principles, translating it into an economic forecast for the key Russian industries. In this connection, the Industry Development Fund plays a crucial role as the top structural element of the new industrial policy.

Consideration was given to using theoretical constructs of the decision making theory for analysis of the outlooks for development of the state-business partnership in the large Russian industry and infrastructure. The possibilities of formal description of the conceptual situation of the economic state-business partnership corresponding to the legal foundations the statebusiness were examined. Attention was mostly paid to the mechanisms for coordinations of the interests of state and business. [ABSTRACT FROM AUTHOR]

The economic condition of the Russian Federation, the actual and perspective financing of process of import substitution are briefly considered.