Administrative barriers and outdated laws. EEF discussion of difficulties of investing

Results of Law and Greater Competitiveness of the Russian Far East in the APR session within the II Eastern Economic Forum, as reported by Kommersant.

As part of the law session held, the participants of the Eastern Economic Forum (EEF) discussed the difficulties that investors in ASEZs face with emphasis on the superfluous administrative barriers in this sphere and persistence of distrust between government and business. The lawyers pointed out that a number of bilateral arrangements between Russia and China on commercial relations regulation was dated and needed to be modernized. In the participants’ opinion, now is the “perfect time” for introduction of an international commercial justice centre in Russia, and the legal community expressed their readiness to help draw the corresponding bill.

At the session Dmitry Kafanov presented his speech on the necessity of introducing certain changes in the legislation on foreign investment in strategic industries and removing administrative barriers that contradict the goal of strong development for the Russian economy.

For further details refer to: Kommersant.ru