Prime Minister Vladimir Putin instructs the Federal Antimonopoly Service (FAS) to improve the law on foreign investment.
Russian Prime Minister Vladimir Putin said red tape delays are generated not only continuously, but also at different levels of power. The Federal Antimonopoly Service's (FAS) executives promised to consult investors over the next two weeks and draft proposals.
The government is doing everything in its power to shape a favourable business environment. It is removing one administrative barrier after another, promoting competition in all possible ways, but its efforts do not reduce red tape delays.
"These are Augean stables where we have more than enough of all kinds of barriers and excessive administrative resources at all management levels," Putin angrily told officials at yesterday's meeting of the Government Commission on Foreign Investment. "The problem is not even their big numbers. The problem is that they are continuously generated at different levels."
Putin instructed the FAS to submit proposals to urgently improve foreign investment legislation. FAS head Igor Artemyev promised to consult businessmen and submit the amendments required by businesses within two weeks.
The commission that allows or bans strategic investments for foreigners gave the green light to the French Sanofi-Aventis by way of example yesterday. The pharmaceutical company plans to launch insulin pen production for diabetics in the Orlov Region.
By Anastasia Savinykh
