28 Sep 2013 14:10

Medvedev: new Russian agency to attract investors to regions

SOCHI. Sept 28 (Interfax) - Russian Prime Minister Dmitry Medvedev has ordered to consider the establishment of an agency for the promotion of regional investment (RAPIR).

"I gave a special instruction the day before yesterday to consider the formation of a special-purpose entity, the Russian agency for the promotion of regional investment. In fact, this is a rather successful international practice. Many countries have such agencies. It is supposed to be a one-window service for foreign investors," Medvedev said at a roundtable of the International Investment Forum Sochi 2013.

He said the agency would focus on investors proposing medium business projects valued more than $5 million. This agency will be useful for regions, the premier said.