of the 32nd Session of the Foreign Investment Advisory Council in Russia
(Moscow, 15 October 2018)
The Thirty-Second Session of the Foreign Investment Advisory Council in Russia
(hereinafter, “FIAC”) was held on 15 October 2018, chaired by Russian Prime Minister and FIAC
Chairman Dmitry Medvedev.
Those in attendance included the heads of some of the world’s largest companies and banks.
FIAC works closely with the Government of the Russian Federation and makes every effort
to create a comfortable business environment, attract investments and boost exports of high-value-
added goods.
FIAC members have been active in developing proposals for improving the legal
framework and facilitating the implementation of regulations affecting the business climate. Much
attention has been given to environmentally responsible product manufacturing and disposal.
In 2019, FIAC will focus on the following priority areas:
Digital economy and innovative technologies
Draw up proposals for implementing advanced technological solutions and best available
techniques in the areas of renewable energy, energy efficiency, road building and dynamic resource
Prepare proposals for improving the regulatory framework governing the use of Big Data
and Master Data generated in state information systems and marking and tracking systems.
Provide input in designing measures to create attractive conditions for the development of
engineering skills and other competencies in high demand on the labor market and to improve
education quality so that innovation centers and innovative production facilities can be established.
Develop measures designed to facilitate the implementation of new products, components,
ingredients and technologies, including the adoption of industry standards and review of regulatory
requirements as they relate to sustainable development and a circular economy.
Localization and regional development
Promote the balanced development of Russia’s localization potential to increase the
availability of raw materials and equipment that have no counterparts in the domestic market.
Draw up proposals for eliminating excessive localization requirements for industrial
production in order to promote localization, make the country more attractive for foreign direct
investments and maximize added value.
Improvement of tax and customs law and administration
Develop measures to promote the institution of authorized economic operator and more
closely approach global best practices.
Develop a position and, if necessary, draw up proposals for enhancing the procedure for
determining and monitoring the customs value of goods imported into the customs territory of the
Eurasian Economic Union, in particular transport expenses and license fees included in this value.
Develop approaches to legislating non-tax payments.
The development of consumer market and technical regulation
Draw up proposals for harmonizing basic approaches to the development and operation of
various state electronic systems for product tracking and recording.
Prepare recommendations and proposals for comprehensively promoting the principles of a
healthy lifestyle and balanced diet among the population.
Develop recommendations on the Customs Union’s technical regulations concerning trade.
Provide expert assistance in the process of assessing the impact of amendments to the
Federal law “On the Fundamental Principles of State Regulation of Trade in the Russian
Federation” that were adopted in 2016.
Health care and pharmaceutical industry development
Draw up proposals for enhancing the legal framework governing the circulation of
pharmaceuticals and medical goods, for increasing the effectiveness of measures to broaden access
to innovative technologies and for developing a comprehensive drug supply system.
Natural resources and the environment
Prepare proposals for simplifying the legislative requirements for foreign companies
applying for public services.
Develop proposals for improving laws concerning state environmental expert reviews and
environmental impact assessments.
Draw up proposals for improving laws concerning wastewater disposal and the management
of production and consumption waste, including licensing requirements.
Financial institutions and capital markets
Prepare proposals for enhancing the criteria applicable to credit institutions seeking access
to federal budget and the budgets of constituent entities of the Russian Federation, using a rating
assigned by Russian rating agencies as a key indicator of a credit institution’s financial soundness.
By focusing on these priorities, FIAC will be able to make a substantial contribution to
enhancing Russia’s investment climate. FIAC members proceed on the understanding that a
concerted effort to strengthen the Russian economy will be needed in order to deliver on this target.
FIAC’s 33rd session is to be held on 21 October 2019.