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“Our investment climate, obviously, will still leave much to be desired for a very long time. Even with the great efforts of our government and society, the investment climate will hardly improve given the way our courts work, radical decrease of corruption …."
Alexander Voloshin, Chairman of the Board of directors “Norilsky Nickel”

Turning around Russia’s capital outflow // Russia Today
With Russia is seeing a massive capital outflow Business RT spoke with Yury Voiñehovsky, Chairman of the National Council for Investment Climate Development about the expected impact of the new $10 billion state backed investment fund.

The Council on the topic of the investment climate in Russia in 2009

Today RSPP (Russian Union of Industrialists and Entrepreneurs) published a report on the condition of the business climate in Russia in 2009. The report provides factors that, according to business experts, influence the appeal of Russia as a centre of business activity. NCICD considers it necessary to comment on some of the aspects of RSPP’s report and to draw conclusions from it.

The National Council for Investment Climate Development welcomes the appointment of a high-ranking government official to be personally responsible for improvement of the investment climate in Russia.

At the meeting on investment climate issues, chaired by President Dmitry Medvedev, on February 2, the various powers of this “ombudsman for investors” and the degree of duplication of his functions with the Office of the Public Prosecutor and other law enforcement authorities were discussed. However, it is extremely important to us that the ombudsman should not be a public prosecutor, but rather a capable and successful businessman. We hope that both Russian and international businesses will view Igor Shuvalov as their partner and an intermediary helping them overcome administrative barriers, bureaucracy and corruption of authorities at various levels.

Investment Climate as the Council understands it

INVESTMENT CLIMATE — is a set of economic, political, legal, financial and other conditions for investments in a certain territory.

© Council for Investment Climate Development, 2011

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