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Russia committed to its plan to improve investment climate – Putin

Vladimir Putin admitted that much is yet to be done to reduce administrative expenses

Photo ITAR-TASS

Photo ITAR-TASS

VLADIVOSTOK, September 8 (Itar-Tass) —— Russia is committed to implement its action plan to improve the investment climate in the country, Russian President Vladimir Putin said on Saturday at a meeting of APEC economies leaders with members of the APEC Business Advisory Council.

“We have a program to improve the investment climate, we have an action plan and will stick to it in the years to come,” he pledged. From July 1, 2007, Russia adopted a policy of unimpeded movement of capital and imposed no limitation even in the period of recession, he noted. “Any investor can be sure that he or she will derive profit once an investment is done, there are no restrictions,” Putin stressed.

At the same time, he admitted that much is yet to be done to reduce administrative expenses. “I must stress that it [improvement of the business climate] is one of the top-priority tasks for the next few years,” Putin noted.

Other issues raised at the APEC meetings were the problem of regional integration and the development of logistics chains. The meeting of the logistics-related section, entitled Russky Island, was attended by the leaders of the delegations from Thailand, Hong Kong, Indonesia, and the United States.

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