Posted on 10/16/2006 4:15:07 PM PDT by sergey1973
Foreign executives appealed to Prime Minister Mikhail Fradkov and senior economic officials for clarity and transparency Monday amid a major review of many of the country's largest foreign investment projects.
They warned that corruption, administrative barriers, entangled bureaucracy and selective application of the law were casting a shadow over the country's strong economy and scaring away potential investors.
Yet state officials failed to provide the clarity foreign investors sought.
"There is a strong sense of optimism here, but also a strong sense of nervousness," said Ernst & Young CEO James Turley, who co-chaired the conference with Fradkov.
(Excerpt) Read more at themoscowtimes.com ...
One very witty investor from one of the well known oil company said that Russia needs to invest 400 bill. USD in oil & and gas industry in the next couple of decades and they can do it. :)))
But Russian don't need any foreign investments in extractive industry. Investments in high tech and manufacturing are welcome !!!
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