Foreign Direct Investments to Russia

In 2004, the Organization for Economic Co-Operation and Development in its report from an exhaustive study revealed that in 1994, the Russian Federation indeed established a new milestone, a new Constitution. Among others, the new charter established the safeguards for the property rights and economic rights of foreign financiers. In 1995 and in 1996, a joint-stock and limited liability insolvency civil code was legislated. In 1998, fixed-capital investment law was legislated. This was subsequently amended in 2000. In 1999, foreign investment law was legislated. The same was subsequently amended in 2002 and in 2003. Consequently, the government of Russia established bilateral relationships between and among the various members of the OECD as well as many other countries for foreign investments opportunities. These undertakings fetched a sharp edge in the Russian economic market with 4.9 billion USD in foreign direct investments in 1997 alone. In 2003, foreign direct investments were recorded at 26.1 billion US dollars (OECD, 2004).