The list of strategic enterprises includes companies that were involved in the state order during five years before lodging the bid to the government and the enterprises authorized for military export/import activities.
Photo: Àðõèâíîå ôîòî
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Govt to Consider Regulations on Investment Restrictions
Russia’s Industry and Energy Ministry has submitted to cabinet the first bill of the package that restricts investments in strategic enterprises. The draft spells out a ceiling of 50 percent plus a stock for aliens willing to acquire strategic enterprises, but it lacks the sanction of Federal Security Service, which calls for the 30-percent limit. The government will consider the whole package of bills in September 2006.
In today’s revision, the draft submitted to the government is obviously liberal. It suggests, for instance, that the permit for investing in strategic enterprises could be granted not by the president but by a special commission of the government.
But Economic Development Ministry and Industry and Energy Ministry have proved unable so far to win the consent of Federal Security Service to the matter of first magnitude. The above two ministries say aliens don’t need a sanction for buying less than the majority stake in the enterprise, while enforcement authorities call for the 30-percent limit.
As a result, the submitted draft bans foreigners from acquiring majority stakes but requires no sanctions for buying lesser stakes in such enterprises.
Moreover, the draft spells out criteria, whereby the enterprises could be referred to strategic ones, Interfax reported yesterday citing a source with Industry and Energy Ministry. The list of strategic enterprises includes companies that were involved in the state order during five years before lodging the bid to the government and the enterprises authorized for military export/import activities.
Description of two more criteria is vague – availability of some critical technology possessed by an acquired company and whether it is entitled to work with data referred to the state secret.
The sources say Industry and Energy Ministry is elaborating amendments to the Act on Foreign Investments in the RF that will give more precise definition of strategic enterprises.
www.kommersant.com
All the Article in Russian as of June 28, 2006
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