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The new law on regulation of internet pissed off investors

The Chairman of Russian Accounts Chamber – Alexey Kudrin – has explained how new proposed draft law on regulation of internet impacts funding in digital and internet market.

He believes the consideration of new draft law on Russian internet autonomy among legislators irritates investors and puts under risks investments in internet and digital technologies in Russia. Investors don’t “perceive the restrictions (provided in draft law) and don’t know how such restriction would be executed in practice” for sure.

It is very important issue for breakthrough of Russian economy, especially in digitization, so the draft law is to be discussed comprehensively. Therefore Kudrin proposed the Russian government to form platform for discussion of this draft law among absolutely all stakeholders and industry professionals. Because it is not about only security issues, it is also about investments in Russian economy. If the industry rules are not clear and explicit the investments are to decrease dramatically.