17.06.2016 — Key Takeaways from St. Petersburg International Economic Forum-2016

SPIEF-2016 started in St. Petersburg on June 16. The 20th SPIEF summoned together state authorities and businessmen, international and Russian investors to discuss the key issue titled “Capitalizing on the New Global Economic Reality”.

The Forum provided for conclusion of 332 official agreements amounting to over 1,24 trillion rubles. More than 12 000 people from 130 countries worldwide participated in SPIEF. Italy is the leading country as to the volume of the international contracts concluded with Russia (in the total amount of 1,3 billion dollars). Furthermore, huge commercial deals with the Russian companies were concluded by representatives of Bolivia, India, the USA, Belarus, Sweden, China, Azerbaijan and other countries.

16.06.2016 — Russia Observes Maximum of Foreign Investments

According to the review of the Ernst & Young consulting company titled “The European Investment Attractiveness Survey”, the number of projects with foreign investments in Russia has grown to 201 projects - a five-year maximum since 2010.

Please note that EY analysts evaluated investment attractiveness not in terms of money, but rather in terms of the number of projects and the quantity of the workplaces created. Thus, the Central Bank of Russia reports that direct foreign investments to Russia have decreased in 2015 by 78%. Investments from non-CIS countries have dropped stronger — by 80,3%, investments from the USA have decreased by 71%, from France —by 26%, from Italy — by 54%,and from China — by 55%.

15.06.2016 — Russia is in Top-30 of “Soft Power” Ranking

The ranking published by the London PR agency Portland assigned Russia the 27th place in terms of its ability to influence other countries with culture and civil society values, rather than with military and financial intimidation.

The ranking is based on both objective indicators, such as the level of development of information technologies, culture, business environment, education, and subjective indicators received by means of polls on, for example, hospitality and amicability of the country.

Its most outstanding results Russia has shown based on the criterion concerning the scope of the foreign network of diplomatic missions and its involvement in counteraction to global challenges.

14.06.2016 — Notarial Certification of Transactions with Land Is Not Obligatory Any More

The State Duma has passed in the third and final reading the bill canceling the obligatory notarial certification of transactions on sale of land shares. These amendments simplify land shares purchase and sale procedure, and free owners of land shares and agricultural producers from unreasonable overpayments.

According to the amendments, public notaries will not be the only authority able to certify contracts of purchase and sale of the land plots. The same functions will also be performed by heads of agricultural enterprises, representatives of municipal power and local authorities. Such certificate will be free of charge and owners of land shares will have to pay only the state duty for registration of the transaction that won't exceed 500 rubles. As a matter of expedience this bill will help minimize financial expenses of land owners and agricultural producers, and also will eliminate legal uncertainty.

13.06.2016 — Courts’ of General Jurisdiction and Arbitrazh Courts’ Acts to Be Available in Electronic Form

The bill according to which courts, if technically possible, can issue acts and rulings in the electronic form is introduced to the State Duma. Such electronic documents will bear enhanced encrypted and certified digital signature of the sole judge who passed the decision or digital signatures of all judges, if the act was issued jointly. Amendments, however, do not concern the acts containing highly sensitive information.

Be reminded that at the moment the State Duma is also considering the bill that proposes creation of a legal framework to transfer civil and criminal legal proceedings to the electronic format. If the draft bill is passed, then claims, petitions, complaints, and other documents will be able to be filed either in writing or as electronic documents bearing digital signature.