Doing Business in Russia. Котова К.П - 35 стр.

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raw materials; 8) USA smelts 3 times more steel in per capita terms; 9) geologi-
cal exploration; 10) prospected deposits on the floor of the world ocean;
11) both for now and in the long run; 12) to mine coal; 13) mortgaging mined
gold and diamonds; 14) to secure loans; 15) to reduce profits for nothing after
inflation; 16) foreign investments in the mining are negligible; 17) despite len-
gthy negotiations; 18) it stands to reason; 19) to share power with anyone; 20) to
restrict the rights of foreign banks; 21) favorable conditions.
II.   Why do economists speak about the importance of outside investment in
      Russian economy?
III. Form adjectives from the following nouns:
1) production; 2) mineral; 3) profit; 4) development; 5) tradition; 6) advanced;
7) quality; 8) addition; 9) geology; 10) success; 11) world; 12) wealth.
IV.   Read through the text.
          Where to Find Investors for Mining Mineral Resources?
      Russia will never again reach the level of oil production which it had in
its best years, says Viktor Orlov, Chairman of Russia’s Committee for Mineral
Resources. This is because the biggest deposits have been largely exhausted
while the development of new ones is unprofitable. Ninety per cent of the coun-
try’s profitable oil resources are already being exploited.
      According to Viktor Orlov, not more than 5% of licenses for the devel-
opment of mineral deposits have been issued to businessmen. Of the 6,500 li-
censes issued during the last two years only about a hundred went to enterprises
with participation from foreign capital. Ninty0five percent of the deposits are
being developed by 350 traditional state-owned enterprises.
      The speech by the chairman of Russia’s Committee for Mineral Re-
sources at an elite VIP-club formed by a group of major Russian entrepreneurs
and politicians in August 1991, contained several theses which differ from
commonly accepted views. Orlov claimed, for instance, that Russia lags behind
other advanced countries by 2-5 tines in per capita consumption of raw materi-