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APEC TPT Working Group

By Amy Rivera,2014-11-22 17:28
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APEC TPT Working Group

    APEC TPT Working Group

    Port Expert Group

Answers to the questionnaire concerning Port investments”

    ? CountryRussia

    ? Port status port is in private ownership In particular, OISC Commercial Port of Vladivostok (CPV) is open joint stock company whose twenty per cent of stock is owned by the state. The port shareholders include foreign investors. OJSC CPV is the head organization of Vladivostok marine trade port holding (Vladmortorgport association), The main function of OJSC CPV is performing car

    handling operations. OJSC CPV activity is based on the law concerning joint stock companies. Like any enterprise OJSC CPV constantly develops, modernizes, reconstructs and builds production assets. In case of internal funds shortage OJSC CPV takes loans on construction projects or issues additional shares. Any financial company or bank offering the best credit terms may become creditors. As for potential buyers of shares, as a rule additional shares are issued for exact buyer who may be the foreign investor.

    Ministry of transport of RF in the person of governmental agency Marine administration of Vladivostok port owns state block of stock of OJSC CPV.

    It should by indicated that OJSC CPV berthing line is operated by MAP Vladivostok performing reconstruction , capital construction and other works connected with the given hydrotechnical

    constructions. The listed works are performed at the expense of Marine administration attracting construction companies. If necessary investment projects with participation of foreign or private capital may be considered.

    ? RF Civil code, the Law of foreign investments, the Law of foreign investments in the form of capital investments and the Law of investment activity are laws and rules determining the port private (including foreign) investments. The given normative documents determine rights of foreign investors for investments, received incomes and profit and terms of foreign investors within Russian Federation. The brief description of these documents is as follows:

    Foreign investments can have form of foreign capital investment to object of entrepreneurial activity within Russian Federation in form of money, securities (in foreign currency and currency of Russian Federation), other assets, property rights having money value of exclusive rights for results of intellectual activity (Intellectual property) as well as services and information, Direct foreign investments are purchasing by the foreign investor no less than 10per cent of share, shares (investment) in authorized capital of commercial organization; capital investment in fixed assets of foreign legal entity branch formed within Russian Federation; execution of financial lease of equipment by the foreign investor as lessor within Russian Federation.

    The foreign investors have different guarantees and benefits established by laws: ? Legal order of foreign investors activity and using profit received from investments should not be

    less favorable than legal order of activity and using profit received from investments given to

    Russian investors with exemptions fixed by federal laws.

    ? Limiting exemptions foreign investors may be fixed by federal laws only at extent necessary to

    protect basics of constitutional order, mo0rals, health and legal interests of other persons,

    provision of the country defense and he state safety.

    ? The foreign investor is granted full and absolute protection of rights and interests within Russian

    Federation secured by the present Federal law, other federal laws and legal normative acts of

    Russian Federation as well as international treaties of Russian Federation.

    ? The foreign investor has right for compensation caused due to illegal actions (failure) of

    governmental bodies, local authorities or officers of these authorities in conformity to civil

    legislation of Russian Federation.

    ? The property of foreign investors or commercial organization with foreign investments is not

    subject to compulsory seizure including nationalization, requisition except cases and on the

    grounds established by federal law or international treaty of Russian Federation. ? In case of requisition the foreign investor or commercial organization is paid value of confiscated

    property, In termination of circumstances due to which requisition took place, the foreign investor

    or commercial organization with foreign investments is authorized to require in legal order return

    of maintained property but is obliged to return received compensation amount taking into account

    loses due to decrease of the property value.

    ? In case of nationalization the foreign investor or commercial organization with foreign

    investments is compensated value of nationalized property and other losses.

    ? Dispute of the foreign investor caused due to execution of investments and entrepreneurial

    activity within Russian Federation is solved in conformity to international treaties of Russian

    Federation and federal laws in court, arbitration or international arbitration. ? After paying taxes and charges stipulated by legislation of Russian Federation the foreign

    investments is authorized to require in legal order return of maintained property but is obliged to

    return received compensation amount taking into account loses due to decrease of the property

    value.

    ? In case of nationalization the foreign investor or commercial organization with foreign

    investments is compensated value of nationalized property and other losses.

    ? Dispute of the foreign investor caused due to execution of investments and entrepreneurial

    activity within Russian Federation is solved in conformity to international treaties of Russian

    Federation and federal laws in court, arbitration or international arbitration. ? After paying taxes and charges stipulated by legislation of Russian Federation the foreign investor

    has right for free disposition of incomes and profit within Russian Federation for reinvestment

    and other purposes non contrary to legislation of Russian Federation and for free transfer beyond

    Russia of incomes, profit and other legally received amounts of money in foreign currency due to

    investments executed before.

    ? The foreign investor who initially imported to the Russian Federation territory property and

    information in the form of documents or electronic records as foreign investments is authorized for

    free (without quoting, licensing and applying to him other measures of non tariff regulation of

    foreign trade activity) export of the indicated property and information beyond Russian

    Federation.

    ? The foreign investor is authorized to purchase shares and other securities of Russian commercial

    organization and government securities in conformity to legislation of Russian Federation

    concerning securities.

    As for investment activity executed in the form of capital investments the following should be indicated:

    1. Capital investment objects in Russian Federation are different kinds of newly formed and (or)

    modernized property in privates, state, municipal and other forms of ownership 2. Capital investments in objects whose formation and use does not conform to legislation of Russian

    Federation and standards (norms and rules) approved in fixed order are not allowed. Subjects of

    investment activity executed in the form of capital investments (hereinaftersubjects of

    investment activity) are investors, clients, contractors, users of capital investment objects and

    other persons.

    3. The investors execute capital investments within Russian Federation using internal funds and

    (or) outside funds. Investors may be in particular foreign subjects of entrepreneurial activity

    (hereinafterforeign investors). The investors have equal rights for: Performing investment

    activity in the form of capital investment; Independent determining volumes and directions of

    capital investments as well as concluding contracts with other subjects of investment activity in

    conformity to Civil code of Russian Federation; Possession, use and disposition of the capital

    investment objects and results of executed capital investment objects and results of executed

    capital investments;

    Transferring according to the agreement and (or) state contract right to incorporated persons and individuals, sate authorities and local authorities for performing capital investments and their results; Exercising control over target funds application directed to capital investments, Combining own and attracted funds with funds of other investors for the purpose or joint capital investments; Capital investments financing is exercised by investors at the expense of own and (or) attracted funds. IV Business relation practice with private capital investment in pot is determined by the code of customs of a port.

    Code of customs of a port is composed for development of OJSC CPV charter, code of trade navigation, international practice of marine trade port work. The holding Vladivosok Marine Trade Port is based on the principle of function division that is some kind of operations mainly loading and unloading, partly forwarding and surveying are performed by OJSC CPV whenever other services are performed by other private companies.

    Forwarding, agency operations, servicing of vessels coming to the port (bunker fuel, oil products and oil supply, partly stevedore operations as well as warehouse operations can be referred to the operations performed by private companies. All operations except warehouse operations are performed by companies having licenses of the RF Ministry of transport and RF Ministry of nature for exercising such activity Forwarding, stevedore, warehouse, agency and other companies set rules of cargo registration, working conditions and tariffs for rendered services proceeding from market condition and necessity of improving port reputation.

    Pilotage duty is obligatory in Vladivostok port. Private company is engaged in such kind of operation and it sets tariffs for rendered services. However as for performing its functions the company is guided by the documents of Marine Administration of Vladivostok Port setting peculiarities of navigation within harbor area rules of navigation safety.

    Export of rigid domestic waste, oil products residuals and oily bilge waters is performed by private companies having license of natural resources committee of RF Ministry of nature. Tariffs for rendered services are set independently by these companies. Such companies act on the basis of agreements with agents representing interests of shipowners.

    There are some functions subject to performing by state authorities such as sanitary and quarantine operation, customs and boundary control, providing safety of navigation within harbor, checking navigation documents and other ordinary formalities fulfilled by port authorities. These are services as follows Federal service of sanitary and epidemiological control, Federal boundary service, State customs committees, ministry of transport of RF in the person of Marine Administration of Vladivostok port.

    The main purpose of Marine Administration of Vladivostok Port activity is providing state regulation of port activity in responsibility zone.

    The subject of Marine Administration of Vladivostok Port activity is providing navigation safety and order in responsibility zone of Marine Administration of Vladivostok Port, exercising control over safety technical maintenance of port structures and objects under responsibility of Marine Administration of Port, providing their repair, development and building, participating in arrangements aimed at development and construction of new port structures and objects. The Marine Administration of Vladivostok Port exercises the following functions

    ? It sets order of port call and port exit, creates conditions for providing safety navigation and

    staying in port, on the estuary and its approaches, exercises regulation of vessel traffic. ? It sets regime of pilotage organizations, exercises control over their activity

? Provides proper technical maintenance of hydraulic engineering structures

    ? Exercises ecological control over port harbor cleanness as well as control over vessels concerning

    fulfillment of RF environment protection legislation requirements

    ? Investigates emergency cases with vessels

    ? Issue permissions for performing construction, hydraulic engineering and other works within port

    harbor and territory and exercises control over conduction

    ? Gives in lease public property under control of Marine Administration of Port, exercises control

    over safety and proper condition, its efficient usage

    ? Exercises functions of state client ordering construction, reconstruction, modernization, technical

    reequipment of port structures and objects.

    ? Organizes and exercises work concerning provision of competitiveness of marine port and

    assistance of entrepreneurial activity on the port.

    Thus almost all operations in the port except for those under responsibility of state services are performed by private companies whose activity is subject to civil code regulation. These companies are entitled to attract financing on the part of both Russian and foreign incorporated persons and individuals according to RF legislation.

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