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Foreign Investors Press State [Russia] for Clarity
The Moscow Times ^ | October 17, 2006 | Miriam Elder

Posted on 10/16/2006 4:15:07 PM PDT by sergey1973

Foreign executives appealed to Prime Minister Mikhail Fradkov and senior economic officials for clarity and transparency Monday amid a major review of many of the country's largest foreign investment projects.

They warned that corruption, administrative barriers, entangled bureaucracy and selective application of the law were casting a shadow over the country's strong economy and scaring away potential investors.

Yet state officials failed to provide the clarity foreign investors sought.

"There is a strong sense of optimism here, but also a strong sense of nervousness," said Ernst & Young CEO James Turley, who co-chaired the conference with Fradkov.

(Excerpt) Read more at themoscowtimes.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Russia
KEYWORDS: energy; eurasia; oil; russia

1 posted on 10/16/2006 4:15:08 PM PDT by sergey1973
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2 posted on 10/16/2006 4:16:04 PM PDT by sergey1973
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To: sergey1973
Investing in Putin's controlled Russia is a very risky proposition, in more ways then one.
3 posted on 10/16/2006 5:09:10 PM PDT by M. Espinola (Freedom is not free)
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To: M. Espinola

One very witty investor from one of the well known oil company said that Russia needs to invest 400 bill. USD in oil & and gas industry in the next couple of decades and they can do it. :)))
But Russian don't need any foreign investments in extractive industry. Investments in high tech and manufacturing are welcome !!!


4 posted on 10/16/2006 11:19:02 PM PDT by Nikolay Lee Sea Cin
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