Regulatory impact assessment

Regulatory impact assessment (RIA) is a systematic process of identifying and evaluating the possible consequences of the introduction of certain regulations.

RIA makes it possible to improve the quality of state regulation, ensure the possibility of taking into account the opinions of social groups and establish a balance of interests both at the stage of preparing a draft regulatory legal act and at the stage of assessing the actual impact of the current state regulation.
The introduction of regulatory impact assessment has become a significant element of the system of measures being implemented in the Russian Federation aimed at improving the investment climate and preventing the emergence of new administrative barriers.

The RIA procedure consists in analyzing the problems and goals of state regulation, identifying alternative options for achieving them, as well as determining the associated benefits and costs for social groups affected by state regulation in order to select the most effective option.

One of the most important elements of this procedure is public consultations, the purpose of which is to take into account the opinions of business representatives, the expert and scientific community, organizations that protect and represent the interests of entrepreneurs, and various social groups on the possible consequences of the regulatory act provided for in the draft.

In accordance with the current regional legislation, the authorized body for regulatory impact assessment is the Department of Economic Development of the Belgorod Region.