Rus News Journal

Michael Fradkov has found time for foreign investors

the advisory council

On Saturday in Moscow the next session of the advisory council under foreign investments has taken place at the Russian government. Privacy of a meeting and the moment of its carrying out have not left at the editor of department of economic policy NIKOLAY - VARDULJA doubts concerning about what heads of the foreign companies realising the largest projects in Russia, talked to prime minister Michael Fradkov. Conversation first of all went about destiny of YUKOS.
sessions of the advisory council with participation of responsible representatives of the Russian government pass twice a year here ten years. But last meeting - especial.
difference the first. Session has passed in conditions of the raised privacy. Organizers and asserted earlier that heads of the foreign companies are interested in business conversation With the Russian prime minister and ministers of the economic block of the government also object to publicity. But it is the first case when journalists, even so-called premerskogo a pool, have not been notified on a meeting and had no possibility to receive at least the unofficial information.
difference the second. The advisory council is a collective lobbist body of the foreign investors interested in business dealing in Russia. It always was going to lobby concrete changes in the Russian economic legislation and activity of enforcement authorities. It is characteristic that for years of the existence council became well structured: tax and customs sections, the section specialising on protection of the property rights of investors and shareholders in Russia have been created, even the section into which problems entered to promote improvement of image of Russia abroad (about its successes it is known least). Usually its members prepared the whole volumes in which developments of the Russian economy were summed up from the moment of last session for council session and that, according to investors, the Russian authorities should make first of all was especially underlined. It is clear that if investors and wanted to keep confidentiality of negotiations, at all the claims to the power. However this time investors kept silence.
specificity of a Saturday meeting, however, to explain completely not difficult. Without a press - releases and volumes of claims of investors absolutely clearly that has forced them to gather right now in Moscow for a collective audience at Michael Fradkov.
in YUKOS business the true moment comes nearer. And investors have arrived to receive first of all guarantees of the Russian power that interests of foreign shareholders of the company will be considered. Them money of foreign investors in YUKOS which do not want to be deceived interested. Also they have arrived to Moscow while the power has declared readiness to enter in negotiations with YUKOS is on June, 21st Minister of Finance Alexey Kudrin, by the way, at the International investment conference in Moscow has made. Negotiations will go about destiny of YUKOS. The choice of possibilities here is insignificant: either bankruptcy, or such order of payments by the company of debts to tax specialists in which result there will be a change of its owners. It is obvious that the foreign companies representing interests of minority shareholders, want, in - the first, to receive guarantees of that the Russian power will operate how Vladimir Putin has specified from Tashkent on June, 17th, having declared that the government should not to bring down the company . In - the second, them concrete steps which will undertake the power and YUKOS interest to keep the company and not to depreciate its actions.
while there is only a relative clearness how can be extinguished Tax shortage YUKOS. Strictly speaking, variants three: the repayment YUKOS of the part of a share holding of the company co-ordinated with the state, now belonging Group MENATEP to transfer them on account of a debt to the state; dopemissija thus that package Group MENATEP will appear washed away, and the part of actions will go to debt repayment; finishing up to the end divorce YUKOS with Sibneft which besides a return exchange of actions can bring to YUKOS $3 billion But last variant should meet with approval of board of directors of YUKOS. Negotiations are anyway necessary. Investors also spoke about it first of all with the prime minister. Probably, them the following stage interested also: who will manage YUKOS actives. While as applicants are considered a state company Rosneft Gazprom (gas actives), and also Surgutneftegaz and Sibneft . It is not excluded that foreign investors have suggested to add this list.
certainly, in official comments on advisory council session with which the press - the secretary of the Russian prime minister Alexander Zharov has acted, about YUKOS it is not told words - a question rather delicate. The government balances between a hard line of agents of national security in the Russian management (before Vladimir Putin`s performance any become by property of publicity the statement for the YUKOS future was treated by the State Office of Public Prosecutor as pressure upon court ) And interests of economy. This ekvilibr has also the concrete price: if foreign shareholders consider the interests illegally restrained, and the government insufficiently flexible in search of the compromise with YUKOS the sum of claims to the Russian government is difficult for overestimating.
Alexander Zharov through Interfax has extended Michael Fradkov`s almost unique statement at advisory council session: Administrative reform, tax reform, the future reform in bank sector - everyone on - to the should be directed on formation of a favorable investment climate to Russia . The statement remarkable. Contrary to the IMF which experts do not wait for acceleration of reforms (see p. 6) from Russia, the prime minister not simply lists already familiar reforms which should not brake, but names also new - bank. But the main thing in its statement another: the purpose of premieres names Formation of a favorable investment climate in Russia and this climate now first of all depends on what destiny is prepared by the Russian power to YUKOS.