Expert: Restrictions on foreigners in Russian companies should be minimal

MOSCOW, June 22 (RIA Novosti) - Restrictions on foreign investors' participation in the capital of Russian companies must be minimal, Arkady Dvorkovich, head of the Russian president's expert department said Wednesday at a conference organized by the Association of Managers.

"We must not set such restrictions wherever partnership with foreign companies is necessary and where there is a need for technology transfer and large financial investment," Dvorkovich said.

He said that the government intended to elaborate a bill by October or November of this year on possible restrictions on foreign investors' participation in particular sectors of the economy. Today such restrictions only exist in some sectors and the government is discussing various solutions, Dvorkovich said.

Dvorkovich said that the United States' approach was the most appropriate.

"There must be a certain procedure to examine foreign companies' applications for the acquisition of assets, while the president or other bodies of power must have the right to pass certain decisions when they apply this procedure," he said. "This procedure has to be transparent."

He said, however, that such transparency involves a complex administrative approach.

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