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Presidential instructions on priority measures aimed at improving investment climate in Russia

April 2, 2011

Dmitry Medvedev approved a list of instructions on priority measures aimed at improving the investment climate in Russia.

The Government is to submit proposals on reducing compulsory pension, social and health insurance premiums from January 1, 2012 and proposals on reducing federal state bodies’ expenses on state procurement by an average of 15%.

The Government has also been instructed to vest the Economic Development Ministry with the authority to conduct expert evaluations of legal acts of federal executive authorities in order to identify provisions that create unnecessary obstructions to business and investment activity, and the right to submit binding proposals to the Justice Ministry on abolishing such acts or their separate provisions.

An instruction has been issued to submit to the State Duma a draft federal law on the enforcement of minority shareholders' right to access information on public companies, as well as a draft federal law stipulating the exemption from regulation by legislation of the Russian Federation on the control of foreign investments in business entities of strategic importance for national defence and state security of transactions between organisations that are currently under the control of Russian citizens and Russian companies, as well as transactions involving international financial institutions.

The Government has been instructed to approve the schedule for privatisation of major federally owned stakes in 2011–2013, in order to eliminate excessive influence of state-owned companies on the investment climate.

Instructions have also been issued to remove from the board of directors (supervisory boards) of joint stock companies with state participation deputy prime ministers and ministers responsible for state regulation in their respective sectors, and to replace them with independent directors or directors’ representatives.

The General Prosecutor's Office received instructions to draft a federal law stipulating a special procedure for processing complaints from individuals and organisations on actions (or lack of action) of state agencies and officials, containing allegations of corruption; control over the objectivity and completeness of the investigation into the information contained in such complaints; mandatory publication of the investigation’s conclusions; personal responsibility of heads of state agencies that are repeatedly found guilty of corruption offenses.

The Presidential Executive Office, together with the Government, has been instructed to draft a decree of the President of the Russian Federation establishing the procedure for public debate with the business community on draft federal laws on issues of state regulation of economic and investment activities, as well as creating a mechanism for taking into account the results of such discussions during the adoption of the laws.

Instructions have also been issued regarding the powers of the Presidential Plenipotentiary Envoys to federal districts to assist economic entities in the implementation of private investment projects.

The Government, jointly with the Presidential Executive Office, has been instructed to decide which deputy prime ministers are to be charged with overseeing the quality of public services, compliance with the requirements and procedures in areas that directly affect the investment climate, particularly at state border checkpoints, when issuing visas and work permits, during the registration of foreign citizens, the provision of postal services and service at airports and railway stations, and during the control of fire safety, technological and sanitary epidemiological regulations.

The Presidential Executive Office has received instructions to organise the work of the mobile presidential reception office and to assign Executive Office officials to all constituent entities of the Russian Federation specifically authorised to receive complaints against actions (or lack of action) of government officials from individuals and organisations and to respond to these complaints, when necessary jointly with the heads of federal, regional or local agencies.

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Annex to the list of instructions on priority measures aimed at improving the investment climate in Russia

April 2, 2011

List of joint stock companies with state participation which are to remove from their boards of directors (supervisory boards) deputy prime ministers of the Russian Federation and federal ministers responsible for state regulation in their respective sectors by July 1, 2011:

1. Open Joint Stock Company VTB Bank (Deputy Prime Minister and Finance Minister Alexei Kudrin);

2. Joint Stock Company ALROSA (Deputy Prime Minister and Finance Minister Alexei Kudrin);

3. Open Joint Stock Company Russian Agricultural Bank (First Deputy Prime Minister Viktor Zubkov);

4. Open Joint Stock Company Rosspirtprom (First Deputy Prime Minister Viktor Zubkov);

5. Joint Stock Company Rosagroleasing (Deputy Prime Minister Viktor Zubkov);

6. Open Joint Stock Company Oil Company Rosneft (Deputy Prime Minister Igor Sechin);

7. Open Joint Stock Company Rosneftegaz (Deputy Prime Minister Igor Sechin);

8. Joint Stock Company INTER RAO UES (Deputy Prime Minister Igor Sechin);

9. Open Joint Stock Company Oboronservis (Defence Minister Anatoly Serdyukov);

10. Open Joint Stock Company RusHydro (Energy Minister Sergei Shmatko);

11. Open Joint Stock Company Gazprom (Energy Minister Sergei Shmatko);

12. Open Joint Stock Company Zarubezhneft (Energy Minister Sergei Shmatko);

13. Open Joint Stock Company Sheremetyevo International Airport (Transport Minister Igor Levitin);

14. Open Joint Stock Company Aeroflot — Russian Airlines (Transport Minister Igor Levitin);

15. Open Joint Stock Company United Grain Company (Agriculture Minister Yelena Skrynnik);

16. Open Joint Stock Company Telecommunications Investment Company (Svyazinvest) (Communications and Mass Media Minister Igor Shchegolev);

17. Joint Stock Company Channel One (Communications and Mass Media Minister Igor Shchegolev).

April 2, 2011