MOSCOW - Russian Prime Minister Vladimir Putin promised to solve restrictions on foreign investment in certain sectors next year, hours after President Dmitry Medvedev reiterated to improve his calls, what called it "bad" investment climate in Russia.
Reuters Interros owner Vladimir Potanin last week criticized the Kremlin's attitude to business.Heads of State or Government frank unusual review and olive branch for foreign investors on Tuesday comes at a time when investors and entrepreneurs hardly talk have dismissed efforts of the Government to promote private investment. The big increase in State ownership and regulation over the last few years is suffocated growth and investment, holds back vital say.
Latest high profile criticism of the Kremlin's stance on business came from Vladimir Potanin, owner of Interros metals, media and banks holding company and one of Russia's richest businessmen. "There is less room for independent companies," Mr Potanin recently said in an interview. "Business to do, you need a powerful partner - a large company or the authorities."
"Make the correct declarations", continued Mr Potanin, speak the Kremlin promises to improve the investment climate, been a hallmark of Mr defenders two-year Presidency. "But I would like to deeds to see these words."
Mr Potanin spoke last week before a Moscow Court declared Yukos Company and revenue guilty former oil Tycoon Mikhail Khodorkovsky of misappropriation of billions of dollars in oil from its OAO on Monday.
Reuters Russian President to improve repeated calls to the country's investment climate Dmitry Medvedev on Tuesday.Authorities seven year tracking of Mr Khodorkovsky and separation and partial renationalisation of Yukos, have come change for many investors to the Kremlin's away from the private sector to symbolize.
Defence lawyers and many observers say the cases politically motivated are denied a claim the Kremlin.
The Russian Government further increases its control over the economy during the financial crisis, bailing out the companies and banks and deploying billions in subsidies support struggling companies.
Heavily dependent on raw materials exports and cheap foreign credit, Russia's economy a contraction of 7.9% suffered in 2009 as the global financial crisis hit.
With commodity prices still well below precrisis heights and international capital of less is plentiful, growth over the next expected to be around 4%, far below the levels seen prior to the crisis and those in large developing countries like Brazil, India and China.
Mr Potanin this autumn a three year, welcomed the adoption by the Government $32 billion privatization program but for the plans made appear even more ambitious: "the State must own assets is a sign for his weakness, not strength," he said.
The Kremlin has now little choice but to warm chilly investment climate, because the price of oil, Russia's main export, are not high enough to the hundreds of billions of dollars in capital that required to generate the creaking industry and the country's infrastructure overhaul, analysts say. The Government is tax to cover the increase of pensions and other benefits lift.
During a meeting with economic aides Tuesday, Mr Medvedev said the Government must encourage more to investment to work. He said "Unfortunately the investment climate in our country, say, leaves to be desired something". "It's bad."
RIA Novosti/Reuters Russian Prime Minister Vladimir Putin, Center, visits a new Office Moscow of the Russian Bank VTB Director Andrey Kostin, left.On a separate event later in the day, Mr Putin, is widely considered to be powerful member of Russia's ruling tandem, promised to restrictions for foreign investments in certain sectors, including food, medical equipment, to solve viewed banking and natural resources.
Also Tuesday, Ministry beating Russia's natural resources and ecology to 25%, 10% increased, non-resident holder, in companies, to keep the development of strategic oil reserves.
Mr Putin chairing a meeting of a Government Panel on foreign investments, noted, that direct investment up overall is foreign $40 billion from $15.9 billion in 2009 this year around. The body on Tuesday approved one of the largest foreign investments in Russia in recent years, PepsiCo Inc.'s $5.4 billion acquisition of OAO Wimm - Bill - Dann, a large dairy and juice producer.
To the Government success in stimulating business, Mr Putin also showed what was a prototype of a Russian-made phone said officials for 10,999 rubles ($370) will soon go on sale reported to Interfax.
"It is everything the iPhone [Apple] 4 and exceeds it in navigation," said Deputy Prime Minister Sergei Ivanov, underlining the fact that it combines the Western GPS system with Russia's own GLONASS navigation system.
Mr Putin hit it on the market brought be in time for March 8 - international women's day, a major holiday in Russia - "women will know exactly where their husbands are."
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