Russia seeks investors

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Russia's president Dmitry Medvedev has instructed the government to prepare proposals on encouraging foreign investors to operate in Russia, within a month. Experts of the European Bank for Reconstruction and Development have already hailed the fresh efforts by Russia to improve its investment climate.

The idea of creating a special Foundation to woo foreign investors was first proposed by President Medvedev last year, at the St. Petersburg Economic Forum, and was repeated at the 2011 Davos Economic Forum. A special sovereign Fund, which is to share risks with foreign investors via joint investment in the modernization of the Russian economy, is to be set up soon, Mr. Medvedev said. Experts calculate that the Fund will grow by 3 billion dollars per annum, at the least. Such a system already exists in several countries. As a rule, the Funds or Agencies belong to the state, but sometimes, they are managed by specially hired companies, which have the relevant work experience in the field. But it is a new system in Russia, says Professor Alexei Krasavin of the Higher School of Economics.

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