City Pledges Loyalty To Investors

St Petersburg Governor Vladimir Yakovlev has promised that St Petersburg will maintain all concessions for investors in 1999. It is also planned that the volume of funds allocated from the budget to support small businesses is to be increased 14 times, an

<BR>St Petersburg Governor Vladimir Yakovlev has promised that St Petersburg will maintain all concessions for investors in 1999. It is also planned that the volume of funds allocated from the budget to support small businesses is to be increased 14 times, and the tax system simplified. The announcement was made at the 'Baltic Sea Region: Investment Opportunities' conference, attended by representatives of 42 of the largest pensions funds in Canada and North America. Vladimir Yakovlev confirmed the readiness of the St Petersburg administration to fulfill all obligations concerning internal and international bonds.