ID :
175948
Sun, 04/17/2011 - 16:45
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Shortlink :
http://m.oananews.org//node/175948
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RF to set up fund of direct investments to co-finance foreign capital
HONG KONG, April 17 (Itar-Tass) - President Dmitry Medvedev noted that
Russian would set up a fund of direct investments early this summer. The
fund "will co-finance capital investments of foreign funds and companies
in Russian projects," stressed the Russian head of state, speaking at a
luncheon with business quarters in Hong Kong.
"Present-day Russia pursues the course for modernisation and
innovation development. Foreign investments play a special role in this
pursuit. "I singled out recently a series of measures to improve business
and investment climate," Medvedev said.
Besides, according to the Russian chief executive, the Russian
authorities plan to simplify procedures of dumping improper decisions by
department concerning businessmen, establishment of an institute of
regional plenipotentiaries on investments, expansion of rights of
minoritarian shareholders and legislative stimuli for foreign investments
in some strategic industries.
"We shall continue to debureaucratise our economy and will resolutely
battle corruption. In this respect, incidentally, we regard the Hong Kong
experience as very useful," said Medvedev.
According to the president's aide Arkady Dvorkovich, the question on
he fund's leadership will become clear after the preparation of a package
of appropriate documents. "We are forming a package of documents,
necessary for establishing the fund; I have in mind formal documents and
inside documents, dealing with investment declarations, a system of
controlling risks inside the fund and a system of administration. There
are now specific names; it is too early," he explained, replying to
reporters.
"The package of documents will be ready by June 1, then we shall start
selecting professionals to run the fund," he continued.
In the Russian president's opinion, it is likely there will be no need
to make changes in legislation on establishing the fund, apart from making
changes in the budget law, which are necessary for invest seed capital in
the fund.
Russian would set up a fund of direct investments early this summer. The
fund "will co-finance capital investments of foreign funds and companies
in Russian projects," stressed the Russian head of state, speaking at a
luncheon with business quarters in Hong Kong.
"Present-day Russia pursues the course for modernisation and
innovation development. Foreign investments play a special role in this
pursuit. "I singled out recently a series of measures to improve business
and investment climate," Medvedev said.
Besides, according to the Russian chief executive, the Russian
authorities plan to simplify procedures of dumping improper decisions by
department concerning businessmen, establishment of an institute of
regional plenipotentiaries on investments, expansion of rights of
minoritarian shareholders and legislative stimuli for foreign investments
in some strategic industries.
"We shall continue to debureaucratise our economy and will resolutely
battle corruption. In this respect, incidentally, we regard the Hong Kong
experience as very useful," said Medvedev.
According to the president's aide Arkady Dvorkovich, the question on
he fund's leadership will become clear after the preparation of a package
of appropriate documents. "We are forming a package of documents,
necessary for establishing the fund; I have in mind formal documents and
inside documents, dealing with investment declarations, a system of
controlling risks inside the fund and a system of administration. There
are now specific names; it is too early," he explained, replying to
reporters.
"The package of documents will be ready by June 1, then we shall start
selecting professionals to run the fund," he continued.
In the Russian president's opinion, it is likely there will be no need
to make changes in legislation on establishing the fund, apart from making
changes in the budget law, which are necessary for invest seed capital in
the fund.
