THE PRESIDENT OF THE RUSSIAN FEDERATION SIGNED THE AMENDMENTS TO THE LAW NO. 57-FZ DEVELOPED BY THE FAS RUSSIA

The adopted norms eliminate the barrier to attracting investment in the Russian economy

It is about those companies that operate in sectors of the economy that are open to foreign investment (meat processing plants, energy, cosmetics and perfumes, ceramics, textiles, bricks and other industries), but due to the technological features of production, they have a small (no more than 1%) strategic asset in the form of a water supply facility, wastewater disposal or a product quality control laboratory with the appropriate license.

“A simplified procedure for considering applications will be introduced for “private” foreign investors. The decision on transactions will be made by the FAS Russia, as the authorized body for the control of foreign investments on the basis of the conclusions of the Federal Security Service of Russia, the Ministry of Defense of Russia and relevant Authorities,” explained the Deputy Head of the FAS Russia Andrey Tsyganov.

The law also provides for the widening of the list of obligations that can be imposed by the Government Commission on foreign investors when approving transactions.

It includes the obligations of investors to sell products at fixed prices( tariffs), to implement investment programs, as well as to introduce advanced innovative technologies in the Russian Federation, and to allocate facilities for the production of parts, blocks and components.