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Major foreign investors ready to work in Russia in any conditions — minister

October 20, 2014, 17:20 UTC+3 GORKI
Everyone confirmed their readiness to work in any conditions from the viewpoint of geopolitics and fundamental economic circumstances, Economic Development Minister Alexey Ulyukayev says
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© TASS/Ruslan Shamukov

GORKI, October 20. /TASS/. Foreign business representatives sitting on Russia’s Foreign Investment Advisory Council are ready to work in Russia in any conditions, Economic Development Minister Alexey Ulyukayev said on Monday.

“Everyone confirmed their readiness to work in any conditions from the viewpoint of geopolitics and fundamental economic circumstances,” the minister said after the Council’s meeting, which discussed investment cooperation in the pharmaceutical, telecom and food industries, natural resources use, trade, electric power engineering and energy-efficient technologies.

All the participants in the Council’s meeting said they hoped for further cooperation and expected their joint work in investment and innovations to be no less successful, the economic development minister said.

Russia established the Advisory Council for Foreign Investment in 1994 to prepare proposals on the Russian economy’s investment attractiveness and resolve problems arising for foreign investors during implementation of investment projects in Russia.

More than 60 foreign companies and banks have taken part in the Council’s work over 20 years of its existence. The Council currently includes the heads of 51 major foreign companies with their total investment in the Russian economy exceeding $120 billion.

“We are very grateful to our colleagues from the largest companies who have gathered here,” the economic development minister said.

“The quantitative representation is even better this year than last year: today there were 29 representatives of the largest companies and their number is expanding. Today’s Council’s meeting was attended by Singaporean colleagues who are working in the agricultural sector,” Ulyukayev said.

“The meeting had a very interesting and sincere discussion on a wide range of important issues,” the minister said.

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