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German Investors Concerned About Strength of Russian Laws

The primary question troubling German businessmen, who are active in Russia, these days is in connection with the guarantee of the safety of private investment in Russia. That opinion was expressed by German business at the Petersburg dialogueforum held in St. Petersburg on Friday. 'For Russia, it is very important to show that laws in the country have strength,' said Chairman of the Eastern Committee of German Economics Klaus Mangold. 'Then, investment into your country will grow many times over,' he added.

Chairman of the State Duma Committee for Economic Politics and Business Grigory Tomchin said that the primary conditions for foreign investors, who are considering investing in Russia, is the continuation of low domestic prices for energy users (especially gas). 'Continued stable domestic energy prices will allow for investment in Russia,' he said.

Prices for gas, oil and electricity in Russia are significantly lower than in the rest of the world. One of the conditions for Russia's entry into the World Trade Organization (WTO) is levelling its domestic energy prices with the rest of the world.