Russian: How do you assess the investment climate in your country?
Foreigner. As quite favourable. Foreign investments have been flowing into our country at an accelerating rate since we started our transition to a market economy.
R.: Who invests capital in your country?
F.: Both foreign companies and individuals. The US heads the list of the major investors. The investment policy pursued by the government focuses on foreign direct investments, I mean setting up joint ventures and establishing foreign branches or subsidiaries.
R.: What is the major reason for this striking growth of foreign investments?
F.: Investors are willing to invest because of two reasons: increase in the middle class that is driving economic development, and the decrease in politically motivated interference in the free market.
R.: Do you think the situation will continue?
F.: Definitely, the government have announced plans to privatize the banking, insurance, power, oil, steel and telecommunications industries, which is sure to encourage still more capital inflows.
R.: We know that your investment policy envisages setting up special economic zones as an additional vehicle for attracting foreign funds. Has anything been done in this direction yet?
F.: Our National Technology Park has been designated for this purpose. There are highly trained workers, scientific and production facilities in this locality.
R.: Will the local companies benefit from this?
F.: Of course. The benefits will include exemptions from all real estate taxes, as well as several options for the reduction of income taxes.
R.: It's been very interesting, thank you.