TODAY IS MONDAY, DECEMBER 11, 2017, 4:34:31 PM
VISUALLY VERSION
Concerning the Advisory Council for Foreign Investments in Russia

For the purpose of pursuance of consistent and coordinated state policy in the field of stepping-up of work, carried out to attract foreign investments to the economy of the Russian Federation, the decision was made by the Government of the Russian Federation based on Decree No. 1108, dated September 29, 1994 in respect of creation of the Foreign Investment Advisory Council in Russia (FIAC) under the supervision of Chairman of the Government of the Russian Federation. 

At the present time, the FIAC presiding officer is V.A.Zubkov, Chairman of the Government of the Russian Federation, while his deputy is E.S.Nabiullina, Minister of Economic Development and Trade of the Russian Federation.

The Advisory Council incorporates the Standing Committee and nine (9) working teams, functioning in FIAC.

Maintenance of FIAC’s activity and work coordination of working teams within FIAC in accordance with the Decree of the Government of the Russian Federation is placed upon the Ministry of Economic Development and Trade of the Russian Federation.

At the present time, FIAC incorporates the following foreign companies and organizations ABB (Switzerland), BASF (Federal Republic of Germany), Siemens (Federal Republic of Germany), Coca Cola (USA), PepsiCo (USA), Ernst and Young  (USA), Exxon mobil (USA), Procter and Gamble (USA), Cargill Enterprises (USA), United Technologies (USA), Mars (USA), Renault (France), BP Amoco (United Kingdom), Mitsubishi Corporation (Japan),  BAT Industries  (United Kingdom), Unilever (Inited Kingdom/Netherlands), Rhodia (Ffrance), FIAT (Italy), Tetra Laval (Sweden), Campofrio (Spain), Ford Motor Company (USA), SAN group (India), Royal /Dutch Shell (United Kingdom), Nestle (Switzerland),  as well as World Bank, EBRD and Deutsche Bank.

Recommendations of foreign companies – members of FIAC, proposed in the course of FIAC’s sessions, are under consideration of concerned federal bodies of executive, while the report on the results of consideration of these recommendations, prepared by the Ministry of Economic Development and Trade of the Russian Federation,  is submitted to the Government of the Russian Federation with the purpose of taking relevant actions in respect of investor’s recommendations, as well as for usage during preparation of а FIAC scheduled meeting.

A day-to-day work is underway in respect of renewal of the FIAC membership. With this end in view in September 2001 the “Provision on Rotation of Member Organizations of Foreign Investment Advisory Council in Russia” identifying the principles of forming of the FIAC composition as well as the procedures of admission and withdrawal of companies from the FIAC membership.

In order to support the effective work of FIAC, its membership is updated by means of admission of companies, which operate actively in the Russian market, taking an active part in the process of conversion of the Russian economy, and contributing to creation of a positive image of Russia as a country-recipient of investments, and representing:
- various economy sectors;
- countries, being the key investors for the Russian economy;
- big and medium business.

The issues of rotation of the Council’s members are discussed preliminary at the sessions of the Rotation Group. The Group’s composition is approved by the FIAC Presiding Officer of FIAC, which incorporates the Executive Secretary, representative officers of the RF Government Office as well as representatives of a number of foreign companies-members of FIAC.

Subsequently, the recommendations off the above group will be discussed at the sessions of the FIAC Standing Committee, and the results of this discussion shall be presented for consideration of the FIAC Presiding Officer, who is to make a decision on rotation of foreign companies-members of the Council.

By virtue of decree of the Government of the Russian Federation, the Standing Committee of FIAC was set up in June of 1995, which goal is coordination of activities of federal agencies of executive power in respect of realization of FIAC resolutions, provision of means for FIAC activities during the period between its sessions, as well as elaboration of proposals to be submitted for consideration of the Government of the Russian Federation.

The Standing Committee’s activity is implemented subject to the “Provision on the Standing Committee of FIAC in Russia”, approved by the Presiding Officer of FIAC, i.e. by the Chairman of the Government of the Russian Federation.

Under the resolution of the Government of the Russian Federation, the Presiding Officer of the Standing Committee is Minister of Economic Development and Trade of the Russian Federation, his deputy being Minister of Finance of the Russian Federation.
The Standing Committee includes representative officers (mainly senior managers) of a number of  ministries and agencies of the Russian Federation, the RF Government Office, the Supreme Arbitration Court of the Russian Federation, as well as representatives of a number foreign companies-members of FIAC in Russia, Ernst and Young,  EBRD,  Exxon Mobil, Shell, United Technologies,  Unilever,   Coca Cola,   Pepsi-Cola, ABB as associated members – representatives of the European Business Club in Russia, the American Chamber Of Commerce, the German Economy Union in Russia).

The Standing Committee plays an essential coordinating role for the FIAC activity. During its sessions consideration is given to issues of fundamental importance related to participation of the Council in implementation of arrangements carried out for the purpose of attraction of foreign investors to a real sector of the Russian economy as well as to Russian stock market, preparation and control over fulfillment of resolutions, adopted based on the results of FIAC sessions held on the membership rotation.

Working groups, formed within the FIAC, play an important and constructive role in the Council’s activity. During sessions of these groups, held with participation of Russian federal and regional government authorities and foreign investors, consideration is given to the issues of betterment of economic conditions for activities of foreign investors in Russia – creation of effective system for safeguarding of investors’ rights, accomplishment of elaboration of regulatory basis for PSA, improvement of tax and customs legislation, transfer to international standards of financial data reporting, removal of front-office barriers, obtaining access to high technologies.

Currently, FIAC incorporates nine (9) working groups, functioning within the Council, senior officers of which (on the Russian part) have been approved by the Presiding Officer of FIAC, i.e. by Chairman of the Russian Government of the Russian Federation, that is:
The Group “Government Control of the Russian Economy”
The Group “Improvement of Tax, Monetary Policy, the Accountancy and Reporting in Russia”
The Group “Development of Banking Sector and Financial Markets of Russia”
The Group “Development of Food Industry and Agriculture of Russia”
The Group “Enhancement of Efficiency of Utilization of Natural Resources in Russia” 
The Group “Development of Industry, Construction and High Technologies in Russia”
The Group “Betterment of Investment Image of Russia”
The Group “Development of Public Private Partnership in Transport Sector of the Russian Economy”
The Group “Facilitation of Customs Procedures”

 

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