Antimonopoly regulation is a crucial element of domestic economic policy, in that it creates competitive market conditions and prevents excessive monopoly practices. In particular, enhanced antimonopoly legislation is essential for the smooth development of the digital economy in Russia. Can the existing antimonopoly system adequately assess the dynamics of market development when it comes to digital technology? What challenges does the innovative digital environment pose for antimonopoly regulation? What regulatory and operational aspects need substantial adjustment?
Natalia Korosteleva ,
Partner, Egorov Puginsky Afanasiev & Partners
Pierre-Dimitri Gore-Coty ,
Head of Europe, Middle East and Africa, Uber Technologies Inc.
Sergey Zhigarev ,
Chairman, State Duma Committee on Economic Policy, Industry, Innovative Development, and Entrepreneurship
Elena Ivashentseva ,
Senior Partner, Baring Vostok Capital Partners
Stepan Kuznetsov ,
Managing Director of Sberbank Digital, Sberbank
Andrey Tsarikovskiy ,
State Secretary, Deputy Head, Federal Antimonopoly Service of the Russian Federation
Marina Yanina ,
Vice President, Corporate Relations. Yandex
I think we obviously need regulation. As for me, we should stand on principles such as fostering competition that is good for consumers, promoting consumer safety and protecting consumers in general. Regulation plays a key role.
The Internet crosses borders easily and, just as easily, it obliterates legal boundaries. Ultimately, we should synchronize our legislation with the countries where those companies are mostly located
Digital companies often reach hundreds of billions in capitalization with minimum or zero investments. This is only possible in situations and sectors with a network effect.
Blockchain is just a technology. The innovative nature of the pilot project we have already implemented is the absence of intermediaries in document flow management. Our state primarily faces the task of determining the areas where new breakthrough services may be developed and, in this regard, it is very important to synchronize our legislation with that of the leading countries.
The era of direct evidence in anti-monopoly cases (particularly as regards cartel agreements) is receding into the past. There is no more direct evidence. We are moving into a new reality. Anti-trust investigations will transform into something radically different; they will transform into a description of abnormality of a particular behaviour and into facts confirming said behaviour.
Everybody should understand the rules and the boundaries of the regulation corridor where companies can act. We, as market participants, very much count on legislators treating the boundaries and the depth of this regulation carefully: companies and national players should be able to engage in fully-fledged competition with international companies, and actually to be national leaders in this.
No one can determine the number of e-trading platforms needed to service government and municipal contracts. The market should determine that. In this law, we can determine the framework for running platforms that will be working with this type of service.