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Main / News / Business news
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Foreign companies to face new economic restrictions |
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03/10/2006
MOSCOW - The government will restrict foreign companies’ access to 39 strategic economic sectors, including weapons production, the nuclear industry and mineral deposits, the economics minister said Thursday.
German Gref told a government session that the final version of a new bill was being drafted, but that the Ministry of Economic Development and Trade had already coordinated “certain approaches” to the issue with the Ministry of Industry and Energy.
“We will identify a set of industries,” Gref said. “For the moment, the list contains 39 types of activities where foreign companies will need [government] authorization to buy controlling shares.” He said the measures were “far more liberal than in other countries, for example, Finland and the United States,” and added that the restrictions would concern sectors that account for 2-3% of national GDP.
According to Gref, a “gray mechanism” is currently applied when foreign companies consult the government before buying assets in Russia. The minister called for clear and open regulations of foreigners’ access to the country’s strategic assets. He said a special interagency commission would be set up to authorize such deals
Source: RIAN
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