The FIAC discussed investment cooperation in the pharmaceutical, telecommunications and food industries; natural resources management and trade; and the markets for electricity, energy efficient and high technologies.
Dmitry Medvedev’s introductory remarks:
Good afternoon, ladies and gentlemen, colleagues. Allow me to welcome you here in Moscow at the Foreign Investment Advisory Council meeting. We traditionally hold these annual meetings on the third Monday of October. Representatives of the largest foreign investors working in Russia are here to meet with the Prime Minister and other Government members – this format has been used for two decades now, since 1994, so today is an important anniversary.
The number of FIAC members has nearly doubled over that time, to around 50 people. Some of the people who initiated this project are still on the Council, alongside new members. Our partners from Singapore, Olam, have applied for participation, so Mr Sunny George Verghese, chief executive officer of Olam International, is here with us today as a guest. I hope he will soon become a full member. This Council is an evolving entity, so we expect new members to join us and work alongside our existing partners. This is very important.
Dmitry Medvedev: "The FIAC is an indicator of the investment climate in the country, with all its upsides and downsides. It helps confirm the changes we have achieved."
The FIAC is also an indicator of the investment climate in the country, with all its upsides and downsides. It helps confirm the changes we have achieved with your help, which is certainly an important function. You, as members of this Council, have actually initiated many policies aimed at creating a modern business environment in Russia, and were directly involved in implementing them, and I would like to personally thank each of you for that. The results of your independent evaluation of new legislation, its application, and the respective administrative procedures are very important for us as policy makers, because they are based on your experience in the Russian market.
I expect that we will have some interesting proposals to discuss today as well. Leading global investors, who work in almost every country and can choose projects to invest in, certainly have things to say about the current situation in Russia and can suggest what needs to be done to improve the business climate.
I also expect a direct, frank and useful dialogue with you as before, with regard to all issues that are of concern for our foreign partners.
I think this is enough to begin our work.