Foreign investors would not have to renew their Russian visas every 12 months under a draft resolution submitted to the government by the Economic Development Ministry.
The document, which authorizes ministry to secure visas at diplomatic representations and consular offices for up to five years for a representative of a foreign organization "meeting certain criteria," will be examined at a government session on Thursday, the press center for the Cabinet of Ministers said.
The change will "facilitate foreign investment in Russia and more effective operations by foreign investors," the authors of the draft said.
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