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Business news, 15.03.2001 13:35

North-West of Russia receives half of American investments.

This information has been provided by Chairman of the American Trade House\'s St. Petersburg Department's Board of Directors Rick Masy. The volume of investments by ATH members into the region's economy amounted to $2.3 billion in the 1999-2000 period. Investors remark that they are ready to invest more if certain measures to liberalize the economy are taken by the Russian government. Rick Masy has noted, in particular, that the procedures of receiving licenses, coordinating various paperwork and collecting taxes must be simplified and changed.

News source: news band

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