Chairman of the Russian State Duma Construction and Land Relations Committee Martin Shakkum
Photo: Dmitry Dukhanin
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Ever More Strategic Enterprises
The State Duma Committee on Construction and Land Relations has approved the final version of the draft law “On the Procedure for Carrying out Foreign Investment in Economic Societies Having Strategic Meaning for the National Security of the Russian Federation,” limiting foreign investment in strategic sectors of the Russian economy. The second reading of the bill will take place on March 21. The main change in the text of the bill since the last version was considered on March 6 is the inclusion of all metals enterprises in the list of those deemed strategic.
In addition, the criteria for the strategic designation of outlets of mass communications were revised. Now they will include radio and television broadcasters whose coverage includes half or more of the population of the Russian Federation. Printers will be considered strategic if they are capable of printing at least 200 million reproductions per month. Periodicals will e considered strategic if they have print runs of at east 1 million copies.
Internet service providers and natural monopolies will be exempt from the rules. Also, readily available electronic communications and postal services will not be considered strategic, nor will network heating and electricity providers.
The committee rejected any limitations on the inclusion of metals enterprises in the list of those to be considered strategic, arguing that conciliation of such a list would hold up the enforcement of the new law by several months. Observers note that the new law will have little practical impact on the Russian metals industry, since foreigners are already excluded from it in practice.
Now, the bill may be reworked before tomorrow's vote to make it more readable for foreign investors, consolidating all clauses concerning mineral production into a single section.
www.kommersant.com
All the Article in Russian as of Mar. 20, 2008
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