Russian Government plans to make a number of amendments to the Russian law on foreign investment in 2011 to create a welcoming environment for foreign investors, the Russ. Govt’s press service reported citing Vladimir Putin’s statement at a meeting of the governmental commission for control over foreign investments.
The essence of the amendments is to facilitate access of investors in the food, medical, banking and mineral resources industries. According to Vladimir Putin, the investments in industries that are not included in the list of strategic entities, do not require any approvals.
"With regard to the strategic sectors of the economy here, as we agreed with you, licensing procedures will be greatly simplified. Already in 2011 it is planned to take a number of amendments to the Law on Foreign Investment. The essence of these amendments is to facilitate investor access to food medical, banking, liberalize controls in the mineral resources ", - said the prime minister.
According to him, this is the first package of legislative initiatives to welcome foreign investors in strategic industries. The second one is being prepared by the Federal Antimonopoly Service.
"I hope that the measures will help us in the near future to increase the inflow of foreign direct investment in Russia. By the way, according to preliminary estimates, in 2010 Russia will have about $ 40 billion of foreign investment", said Vladimir Putin.
The essence of the amendments is to facilitate access of investors in the food, medical, banking and mineral resources industries. According to Vladimir Putin, the investments in industries that are not included in the list of strategic entities, do not require any approvals.
"With regard to the strategic sectors of the economy here, as we agreed with you, licensing procedures will be greatly simplified. Already in 2011 it is planned to take a number of amendments to the Law on Foreign Investment. The essence of these amendments is to facilitate investor access to food medical, banking, liberalize controls in the mineral resources ", - said the prime minister.
According to him, this is the first package of legislative initiatives to welcome foreign investors in strategic industries. The second one is being prepared by the Federal Antimonopoly Service.
"I hope that the measures will help us in the near future to increase the inflow of foreign direct investment in Russia. By the way, according to preliminary estimates, in 2010 Russia will have about $ 40 billion of foreign investment", said Vladimir Putin.