Econ Ministry to draft proposals on improving investment project audits
MOSCOW. March 22 (Interfax) - The Russian Economic Development Ministry will draft proposals on improving technological and cost audits for major investment projects by July, Economic Development Minister Elvira Nabiullina said at a meeting devoted to achieving the goals set down by the candidate for Russian president in his election campaign.
"Here we'll need amendments to regulatory acts and to organizational mechanisms. We and the relevant agencies will draft such comprehensive solutions by July 1," she said.
At present, the cost of implementing many investment projects, including in construction, is inflated, Nabiullina said. This was brought about not just by regulatory flaws but also monopolization in the field of design and the poor quality of design specifications and estimates, meaning that the cost parameters of many existing investment projects had to be reviewed.
Existing mandatory state appraisal mainly takes the safety of construction to account, not the opportunity to use new technologies. "Here we need a comprehensive effort to modernize the standards themselves. In our view we need permit the involvement in appraisals of major international companies which could perform technological audits," Nabiullina said.
The creation of new design organizations should also be stimulated, she said.
