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1. Discussing submission of the tender and bank guarantee

Consortium leader: And now let's discuss the preparation of our compre­hensive tender.

Consortium member: We can have our tender ready in two months. And you will have time to prepare a comprehensive tender and submit it to the tender committee, as leader of our consortium, don't you think?

C.L. That's true but the nature of our project is not simple and the prepa­ration of the joint tender will require coordination of design and plan­ning. That takes time.

CM. Well, we'll try to speed up the work to avoid delays in the approval of the tender documents.

C.L. Good. One more point, gentlemen. Under the conditions of the ten­der, the consortium members submit bank guarantees to the amount of... .As future leader of our consortium we believe that each mem­ber should provide a guarantee to cover the sum.

CM. We think that the guarantees of the consortium members should be proportional to their shares of work and services.

C.L. Well, we may specify it when we discuss the agreement on the Es­tablishment of the Consortium.

CM. When will you be able to let us have the draft of the agreement?

C.L. Towards the end of next week.

comprehensive tender совместное to the amount of... на сумму в ...

(полное) тендерное предложение

355

interference [jnta'fiarans] n (зд.) вмешательство

envisage lin'vizicfc] и предусматри­вать

designate |'dezigneit| v определять, обозначать

real estate tax ['rial isteit ,tacks| на­лог на недвижимость

2. INVESTMENT CLIMATE

Russian: How do you assess the investment climate in your country?

Foreigner: As quite favourable. Foreign investments have been flowing into our country at an accelerating rate since we started our transition to a market economy.

R.: Who invests capital in your country?

F.: Both foreign companies and individuals. The US heads the list of the major investors. The investment policy pursued by the government fo­cuses on foreign direct investments, I mean setting up joint ventures and establishing foreign branches or subsidiaries.

R.: What is the major reason for this striking growth of foreign investments?

F.: Investors are willing to invest because of two reasons: increase in the middle class that is driving economic development, and the decrease in politically motivated interference in the free market.

R.: Do you think the situation will continue?

F.: Definitely, the government have announced plans to privatize the bank­ing, insurance, power, oil, steel and telecommunications industries, which is sure to encourage still more capital inflows.

R.: We know that your investment policy envisages setting up special eco­nomic zones as an additional vehicle for attracting foreign funds. Has anything been done in this direction yet?

F.: Our National Technology Park has been designated for this purpose. There are highly trained workers, scientific and production facilities in this locality.

R.: Will the local companies benefit from this?

F.: Of course. The benefits will include exemptions from all real estate taxes, as well as several options for the reduction of income taxes.

R.: It's been very interesting, thank you.

investment climate [m'vestmant ,klaimit] инвестиционный климат

flow v течь

at an accelerating [ak'selareitirj] rate все увеличивающимися темпами

middle class l,midl 'kla:sj средний класс

option n выбор, право выбора