Medvedev gives order to govt on improving invest climate

MOSCOW: Russian President Dmitry Medvedev has instructed the government to take measures aimed at improving Russia's investment climate, the president's press service said Thursday.

In particular, Medvedev instructed the government to submit a bill to the State Duma by March 1 seeking to facilitate the immigration of research and development and high technology specialists. The State Duma is the Russian parliament's lower house.

The government is also expected to submit a bill to the State Duma by April 1 that seeks to streamline customs clearance and simplify customs procedures for non-commodity exports and imports of high-tech equipment, raw materials and components.

Medvedev also asked the government to draft proposals on including large strategic state-affiliated companies in privatization plans for 2010–2011 by March 15, and to adopt regulations facilitating investors' access to infrastructure by March 30.

Additionally, the government is expected to draft proposals by March 15 on exempting capital gains from taxation, exempting education and healthcare businesses from the corporate tax, deducting expenses on research and development from the corporate tax, and speeding up value added tax (VAT) refunds for high-tech exports and construction projects.

Medvedev also instructed the government to adopt measures aimed at cutting red tape for investment projects by March 30 and to draft plans by April 30 to improve Russia's image for attracting investments.