Foreign investors banned from more Russian industries
The Russian government looks set to extend its list of sectors protected against foreign investors. According to a draft bill, foreigners will be allowed into publishing houses, the Internet and fisheries only with special state permission.
A previous draft law had prime focus on strategic mineral resources. The new draft however is far more extensive The legislation has now grown to cover fishing, television, radio and Internet service providers, the Duma committee on Construction and Land Policy said. In addition, printing companies and publishing houses, which include newspapers, would be considered strategic if they dominated the market, it said. The bill sets new conditions for foreign investors who want to own more than 50 percent of a company, including new rules on how to seek permission for deals and on how a government commission should rule on the requests, the committee said without elaborating, the Moscow Times reports.