FAS plans changes in procedure to attract investment to Russia - Putin
MOSCOW. May 2 (Interfax) - Prime Minister Vladimir Putin has spoken of the need to continue efforts to attract foreign investment to Russia.
"I think that we will have to continue in the future these efforts to simplify the attraction of investment on condition of closely observing national interests in strategic sectors," he said at a Wednesday session of the government commission for foreign investments.
He said the Federal Antimonopoly Service (FAS) is working "on a whole set of amendments aimed at simplifying the procedures and reducing the term for handling applications from foreign investors."
"These innovations are meant to stimulate foreign business to implement new projects in strategic sectors of the Russian economy," Putin said.
He noted the need to take into account the specific circumstances related to the launch of the Common Economic Space and Russia's accession to WTO.
"I want to remind you that over $52 billion in direct investment flowed to the Russian economy from aboard in 2011. In terms of dynamics we actually returned to the level of the pre-crisis year of 2007," Putin said.