The Russian government’s commission for foreign investment has approved investment projects worth 1 trillion rubles ($31 billion) in the four years of its existence, Prime Minister Dmitry Medvedev said on Monday.
“Over four years since the commission was established. 147 investors’ requests have been examined. We have to say that refusals were only made in isolated cases (eight cases) and in the overwhelming majority of instances, the petitions were met,” Medvedev said at a commission meeting.
“Virtually 1 trillion rubles have been committed to the domestic economy,” Medvedev said, adding the Monday meeting would discuss a number project proposals related to strategic assets.
“Our task is to define in compliance with legislation the extent of economic benefits and substantiation of proposed business projects and whether they meet the requirements of our national security,” Medvedev said.
The premier urged government officials to minimize administrative barriers and expand the list of areas which are promising for investment but without detriment to the state.
“The main tasks that remain are to observe state interests while making decisions during serious, fundamental deals and forming a favorable investment climate,” he said.