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Economic Development Minister: Foreign investors know how to work in Russia amid sanctions

October 19, 2015, 16:37 UTC+3 GORKI

The first shock of sanction passed, and now investments are coming and foreign capital continues to operate in Russia, Economic Development Minister Alexey Ulyukayev says

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© Ruslan Shamukov/TASS

GORKI, October 19. /TASS/. Foreign investors have recovered from the first shock and know how to work in Russia amid sanctions, Economic Development Minister Alexey Ulyukayev.

"Unlike last year, when there were many emotional conversations about sanctions, which create new conditions, and it is necessary to adjust to them and to separate politics from economy today the conversation was very different. Today, everyone knows how they really should work. The first shock passed. Investments are coming and foreign capital continues to operate in our country. Therefore, we were talking about more practical aspects," Ulyukayev said speaking after a meeting of the advisory council on foreign investments.

According to the minister the council discussed how to combine steps towards import substitution with the operation foreign investors, how to organize the information interaction, to provide legal protection, how to get the status of a national producer.

By tradition the council also discussed removing various non-tax charges and fees, primarily in the field of environmental law, the minister said.

"I must say that in most cases my colleagues and I manage to find mutually acceptable solutions that also suit our foreign partners, including the postponement of the introduction of a number of requirements," Ulyukayev said.

According to him, this is particularly concerns the requirements for veterinary certificates that are postponed until 2018, the requirements in the field of environmental legislation, that are delayed until 2019.

According to the Minister, during the meeting the issue of attracting foreign investors and work in the Crimea was not discussed.

"No, territorial aspects were not discussed except for few cases, when it came to specific issues of companies that operate in a particular region, and raises the question of cooperation with local authorities. Crimea was not discussed," Ulyukayev said.

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