Putin for more transparency in foreign investment

Russian Prime Minister Vladimir Putin has underlined the need for more transparency and lesser bureaucratic red tape for foreign investment in Russia.

“I think we should improve mechanisms of cooperation,of our interaction with foreign investors. This is a hot topic,given the state of affairs in the global economy and the experience we have accumulated in cooperation with our partners in recent years”.

These new mechanisms should be based on this rich cooperation experience,as well as on sincere relations and mutual trust. Clearly,we must seek more transparency and less bureaucracy,” Putin said at a cabinet meeting on Wednesday.

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The Russian strongman made his statement amid New Delhi’s push to boost trade and investments with former Communist nation.

The issues of transparency and red tape faced by the Indian investors were discussed by Union Commerce and Industry Minister Anand Sharma here on Tuesday during a meeting with Putin,Deputy Prime Minister Alexander Zhukov,Economic Development Minister Elvira Nabiullina and Industry and Trade Minister Viktor Khristenko.

During his three-day visit to Russia,Sharma co-chaired the Third India-Russia Forum on Trade and Investments,which coincided with the inauguration of international forum of foreign investors “Russia Calling!”

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