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Business news, 09.06.2005 17:09

Russia to Take Down Foreign Investment Barriers

German Gref Russia will take down the barriers placed in the way of foreign investments, the head of the Russian Economy Ministry German Gref, who was speaking at the second Russian-Chinese investment forum in St. Petersburg on Thursday, June 9.

“It’s not only investors from China who experience problems in Russia,” Gref said, quoted by RIA Novosti. “Investors from other countries face problems too. We shall consistently eliminate all possible barriers and hurdles that are facing investors who wish to put their money into the Russian economy.”

The Russian economy minister stressed that it is necessary to create a favorable investment climate in Russia, decrease the levels of corruption and lower administrative barriers.

Speaking of Chinese investments, Gref noted that there is no large-scale Chinese investment in the Russian economy. “Considering that the corporate cultures of our two countries have a very high potential level of compatibility, we still lack the experience of mutual investment cooperation. This is a complex problem that has to be resolved by our two countries together,” the minister said.

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