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The head of Yakutia: the imperfection of Russian laws prevents the attraction of international investment
The Head of the Republic of Sakha (Yakutia), during the on-site session of the WEF, said that the existing federal budget legislation prevents the attraction of international investment. Aysen Nikolaev proposed to finalize the federal regulatory framework in order to rectify the situation.
An example of such imperfection was the situation with the Japanese bank JBIC, reports Interfax. During the discussion on the topic “The Contribution of International Financial Institutions to the Development of the Russian Far East”, JBIC spokesman Kato Manabu said that the bank could not directly finance infrastructure projects in Yakutia and this leads to their appreciation.
Speaking about the role of capital of international financial organizations in the development of the Far East, the head of Yakutia noted that only those projects that have passed regional and federal expertise should be credited to MFIs.