STATE DUMA APPROVED IN THE THIRD READING THE DRAFT LAW ON STRENGTHENING CONTROL OF FOREIGN PARTICIPATION IN FISHERIES
The document expanded the range of economic entities, in order to establish control over which foreign investors need to obtain the prior consent of the Government Commission for Monitoring the Implementation of Foreign Investments in the Russian Federation
The draft law establishes state control over companies that are engaged not only in the extraction (catch) of aquatic biological resources, but also carry out other processes in the field of fishing: acceptance, processing, transshipment, transportation, storage and unloading of catch.
Thus, the strategic activity in accordance with Law No. 57-FZ* will be fishing in general.
According to FAS Russia, the amendments established by the draft law will increase the effectiveness of state control over the implementation of foreign investments in the field of fisheries.
*Federal Law No. 57-FZ of 29.04.2008 "On the Procedure for Foreign Investments in Business Entities of Strategic Importance for Ensuring the Country's Defense and State Security"