FAS summed up the results of its work with foreign investors

In 2016, FAS Department for Control over Foreign Investments considered 54 petitions, which is nearly 30% more than in 2015

According to the data given by Head of the Department for Control over Foreign Investments, Andrey Yunak, transactions, preapproved by the Government Commission for Control over Foreign Investments in the Russian Federation in 2016, will bring around 420 billion RUB in the Russian economy.

“Last year foreign investors showed significant interest towards companies in the nuclear industry, pharmaceuticals, infrastructure facilities, natural monopolies and mineral developers. FAS received petitions from such large international players as General Electric, Bombardier, Procter & Gamble, and Silk Road Fund”, pointed out Andrey Yunak.

The geography of the investors whose petitions were considered by the Department is quite diverse. FAS analyzed materials submitted by companies from the US, the Netherlands, Norway, Canada, China, South Korea, India, Singapore, the United Arab Emirates and other countries.

An important aspect of Departmental activities is improving legal regulation of control over foreign investments. In 2016 the Government approved a list of services rendered at ports, which brought certainty in the process of making foreign investments in the companies that have the dominant position in this field. Also Government Decrees came into effect formalizing the Rules for submitting pre- and post transaction notifications, and the relevant administrative FAS Regulations were adjusted in line with those regulatory acts.

“In spite of its “over-strict” name, the Government Commission takes a rather liberal attitude regarding bona fide foreign investors: in 8 years of enforcement of No. 57-FZ Federal Law there were only 12 refusals to pre-approve transactions  due to threats to national defence and state security”, emphasized Deputy Head of FAS Andrey Tsyganov. “There is no need to be afraid to put the deals for the Commission’s consideration, and we trying to make our foreign partners to be aware of this. In 2017 FAS will undertake a number of measures to enhance investors’ awareness”.

FAS Department for Control over Foreign Investments is in a dialogue with all interested parties and endeavours to decrease administrative barriers and pin-pointedly improve the law on foreign investments maintaining its stability as an absolute priority.