ANNOUNCEMENT 01 Jul 2013In July 2013, the government of the Russian Federation announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
() 2014 - 2016 ,
1 2013 . 1111-p, http://government.ru/docs/2795
On 1 July 2013 the Russian Government approved Resolution 1111-, which contains the forecasting plan and main focus areas of federal property privatisation in 2014-2016. It was drafted by the Ministry of Economic Development in accordance with the Federal Law on Privatisation of State and Municipal Property and Presidential Executive Order No. 596 of May 7, 2012 On Long-Term State Economic Policy.
In line with Sub-clause C of Clause 1 of the Order, the forecasting plan foresees the withdrawal of the state before 2016 from the capital of companies which do not operate in the oil or gas sector, and are not defence organisations or natural monopolies. Furthermore, the plan foresees the privatisation in 2014-2016 of state-owned stakes in 436 companies, 514 unitary enterprises, and 94 other federal properties in the sectors indicated on its pp. 10-13.
This state initiative could create opportunities for big international investors in Russia (see related GTA measure No. 4210 below). In addition, it may have an impact also on smaller-scale foreign investors, because currently the Russian government prepares amendments that foresee foreign nationals to be allowed to create a small and medium enterprise (SME) in Russia without a limitation of their stake in the authorised capital (see related GTA measure No. 4128 below).