OREANDA-NEWS. October 07, 2011. Stats-Secretary Andrey Tsarikovskiy, Deputy Head of the Federal Antimonopoly Service (FAS Russia), made a presentation at the V Far Eastern International Economic Forum, in Khabarovsk, regarding the impact of the antimonopoly law on investment climate in Russia, reported the press-centre of FAS Russia.

Andrey Tsarikovskiy informed Forum participants about the novelties of the “third antimonopoly package”; he talked about removing administrative barriers for business and improving transparency of the procedures for allocating state property and natural resources.

“Economic globalization directly depends on international capital movement, especially in the form of foreign investments”, pointed out Deputy Head of FAS.

In his opinion, the antimonopoly law directly improves investment climate in Russia due to application of turnover fines, removal of administrative barriers, etc.

“Improvements of the antimonopoly law are aimed at effective protection of competition and creating conditions for market performance”, stated Andrey Tsarikovskiy. He gave a detailed account of FAS scope of reference for control over foreign investments in Russia.

Since No.57-FZ Federal Law “On the Procedures for Foreign Investments in the Business Entities of Strategic Importance for the National Defence and State security” came into force, FAS has received: 207 petitions; 424 notifications; 58 enquiries whether transactions must be approved; 242 enquiries regarding application of No. 57-FZ Federal Law. Of the received petitions: 92 were approved, including 9 petitions where FAS set specific obligations for the petitioners; 57 – were returned to the petitioners because they did not require approvals; 24 – withdrawn by petitioners; 5 – approvals refused; 4 – returned without consideration because requested information was not submitted; 7 – the periods for petition consideration were extended; and 18 petitions are being considered.

Andrey Tsarikovskiy also informed the Forum about amendments to No.57 Federal Law, approved by the State Duma in the first reading. In particular, the following activities are excluded form the List of strategic activities: cryptography exercised by banks (excluding the banks with participation of the Russian Federation); exploitation of radiation sources with 4 category of potential radiation hazard. It is also planned to decontrol transactions in subsoil resources management, exercised as part of an additional issue of shares if as a result of a transaction the share of a foreign investor in the authorized capital of the subsurface user is not increasing.