VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
ARCHIVE OF THE OFFICIAL SITE
OF THE 2008-2012 PRIME MINISTER
OF THE RUSSIAN FEDERATION
VLADIMIR PUTIN
“As a matter of fact, a new mechanism has been created and tested for attracting foreign investment and granting foreign companies access to operate in strategic sectors of the Russian economy. Since it was formed four years ago, the commission has considered more than 140 applications from foreign companies and investors. An overwhelming majority of those applications (94%) has been approved. Only in eight cases have the applications been turned down, and always for good reason. None of the rejections has been disputed or appealed against.”
“To join the world’s top 20 countries in terms of investment climate, we must cut the number of permits from 51 to 7 and the period during which businesses receive such permits from 423 to at least 35. I suggest that we use the best global practices to accelerate the coordination of design documents and to radically simplify all of the coordination procedures and the issue of construction permits.”
“Entrepreneurial talent is Russia’s most important resource. We must pave the way for a new generation of business by creating an optimal investment climate in Russia and the best corporate and anti-monopoly laws and by removing barriers to access to the market for new companies.”
“This year we have done much to improve our investment legislation. During the commission’s meetings, we approved several packages of amendments that are designed to streamline monitoring procedures and the process of reviewing applications from foreign investors. Proposals were made to simplify and expand access of foreign companies to the food and medical industries, the banking sector and subsurface resources. Now all these proposals are becoming law and next year business will be able to work in new, more comfortable conditions.”
“In their preliminary estimate, in the past 10 months of this year direct foreign investment in Russia reached $36 billion. <…> Our task now is to create favourable conditions for the flow of direct foreign investment into key branches of the Russian economy, including strategic ones.”
“The Central Bank of Russia estimates that the Russian economy has received about $31 billion worth of direct investment in January-September 2011. This is 20% more than in 2010. <…> Against the backdrop of today’s complicated global economic situation, our objective is to create the best investment climate we can to promote an influx of capital and its protection. This would allow investors to feel comfortable and to perceive our support and protection. This is the only way for us to win the competition in attracting capital.”
“For 17 years, the Foreign Investment Advisory Council has undoubtedly established itself as an effective and authoritative partnership between the government of the Russian Federation and our esteemed foreign colleagues and the foreign business community. The council has earned a reputation not only for collecting information about issues pertinent to the Russian economy, which is important by itself; it also plays a direct and active role in forming the business climate in the Russian Federation, conducts investigations and analysis, and formulates clear recommendations – first and foremost, recommendations to the Russian government agencies at various levels.”
“I would like to highlight that many foreign investors regard our council as a kind of gauge of the Russian business climate, and the opinion of the council members about working in Russia is often the deciding factor in the decisions of our partners on whether to launch a new business or invest in a particular project in the Russian Federation.”
“It is absolutely obvious that if we want to make our country attractive for investors, we must minimise the risks in terms of finances and administrative procedures. Political stability and predictable political decisions are as important as macroeconomic stability.”
“In general, we will assist our scientists, engineers and innovation business by providing them with orders from major government corporations. In other words, we will create a market for them. This year 46 state companies will launch innovation programmes worth a total of 700 billion roubles, and will double their funding after two years.”
