CONTENTS

Volume 10, 2003

Investment CLIMATE

Constantin SANIN. Legal regulation of foreign investment in the Republic of Belarus

Legal forms of investment practice by Russian investors in Belarus, franchises and guarantees for investors and investment process partners stipulated in the Republic laws.

Yana DERYABINA. Investment in fixed capital as a component of the Sverdlovsk region economy development

The Sverdlovsk region possesses the powerful finance and investment potential comprising the well developed infrastructure of investment and finance markets, the network of regional and national commercial banks, insurance companies, investment funds, venture and consulting firms. To meliorate the investment climate in the region the state and municipal authorities systematically work on the diminishing of investment risks, work out the financial and investment strategies, foster the competitive advantages in the region.

Andrei BLINOV, Svetlana KASHKOROVA. Economy friendly zones based on the developed small business

The economy friendly zone means here a territory with particular business conditions, especially in taxation, for a certain group of enterprises which operate in accordance with the decisions of the government and management bodies on social and economic problems.

Investment MARKET

Victor MOSKVIN. The project business plan, does it belong to the past?

Previously the author studied various aspects of acute problems of the investment project quality in the forthcoming period of the world community movement towards the 6^th technological establishment including the 30 year planning. Obviously the investment project initiators and partners have to work out planning systems for the close and remote periods. These systems may be set up on different principles and use various procedures including the advanced network modeling. It seemed perfectly sure that the project business plan must make the project implementation.

Pavel FRADKOV. The system terms for Russia to join the WTO

Joining the WTO is a paramount mission of Russia’s strategic course towards integration in world economy. Russia can not ignore the world trade events and can expand its trade relation only under rules common for the whole world. After China had entered the WTO, Russia remains the only large country outside the organization. The most important for Russia are acceptable terms of her entering the WTO. The negotiations on the matter are lasting for years, but so far Russia takes part as an observer. In the last three years are remarkable progress was gained as the officials declared their will to speed up the process.

Anatoli PANOV. Compiling the program of the heat and power complex development in the Republic of Sakha (Yakutia)

The Yakut economy is definitely oriented to raw-material production. Thus the extractive industries account for 87 per cent of the 2000 industrial output. With mere 0.68 per cent of the country population Yakutia produced 1.58 per cent of the GDP. The Rbl 65200.9 mn industrial output made 28 per cent of the total for the Far East federal district. So Yakutia is referred to as a most intensively developing entity in the Asian region.

Elena TROSHINA. China in search of oil and gas

The piper is dedicated to the Chinese investment business in oil and gas abroad.

Investment TECHNOLOGIES

Gennadi PANFEROV. An investment project effect and economic profit

Assessment of investment project efficiency, various risk concepts, and the choice of the best project alternative under risk conditions. Interlinks between NPV and economic profit. Analysis of typical errors of project efficiency assessment.