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#18 - JRL 2006-64 - JRL Home
Ministries Agree on Bill To Limit Foreign Investment in Russian Economy

MOSCOW. March 13 (Interfax) - The Industry and Energy Ministry has agreed with the Economic Development and Trade Ministry on a bill that would limit foreign investment in strategic sectors of the Russian economy, Industry and Energy Minister Victor Khristenko told Interfax.

"We have agreed with the economics ministry on this issue," he said. "This will take place within the timeframe set by a government decree," Khristenko said in talking about when the bill would be debated.

Vladimir Taraskin, director of the Industry and Energy Ministry's legal relations department, said that the law may come into force in July 2007. He said that the draft law deals with 39 strategic types of activity, which are divided into five sectors: the space industry, the nuclear power sector, arms and military technology production, special technology and aviation. "There are other criteria covering monopoly activity and the development of resource fields of federal significance," Taraskin said.

"There is a proposal to include the electricity sector in the draft law also - concerning wholesale generating companies, but this is only being discussed," he said.

The government initially planned to debate the bill at a meeting on March 2, then on March 9, however the debate was postponed again.