MOSCOW, December 12. /TASS/. Foreign investors will come back to the Russian market next year, driven by the principle that "greed wins," Deputy Finance Minister Alexey Moiseyev said at parliamentary hearings in the State Duma.
"We don’t think there’s anything far-fetched about foreign investors coming back to the Russian market. We know what’s going on. Those of us who have watched the financial markets for a long time know that in the end, ‘greed wins’ out, over everything else," he said, adding that the first signs of this inflow will show themselves next year.
Moreover, the Finance Ministry and the Central Bank has drafted a decree by the Russian president that provides guarantees for new foreign investors on the Russian stock market, which Moiseyev said will expand market capacity.
"The idea is that if new non-residents, regardless of whether they come from a a friendly or unfriendly (country - TASS), invest in our stock market, specifically in portfolio investments rather than direct investments, they will not be subject to the restrictions imposed on non-residents exiting Russia as of March 2022," he told reporters on the sidelines of the State Duma (lower house of the parliament).
"We see the demand for financial instruments rising, which is why next year we plan to finance utility digital rights and digital financial assets tied to gold, including for international settlements. We also think that these tools could serve as effective financing instruments for industrial projects in this sector," the official noted.
Additionally, amendments to the Tax Code are being discussed to make gold more attractive for bank deposits, he noted.