Russian businesses optimistic about investment, with some reservations

The value of Russian investments in Poland stands at almost $1.5 billion, w ith the majority being spent in by Gazprom. It is also possible that Russian Lukoil, planning to invest over a billion dollars together with Britain's R otch Energy, will soon become co-owner of the Gdansk Refinery (Rafineria Gd anska). However the authorities have decided to prepare an analysis of the political risk, to be completed in three weeks. Russian businessmen complain about bureaucracy, complicated regulations and the fears of Poles about own ers from the East. Vice-president of the Gdansk Institute for Market Economy Research (IBGR), Maciej Grabowski, says that the Lukoil-Rotch consortium is a good investor for Rafineria Gdanska, which has been awaiting privatization for six years. However, according to him, the optimum time for privatization has already passed. He says that the turmoil involved in making this decisi on a political one is unnecessary. If the refinery were sold to a different investor there would be no guarentee that they would not sell it on. "In my opinion the climate for mutual business is improving, with the exception of certain shortcomings," said Nikolaj Zachmatow, commercial representative of the Russian Federation's Embassy in Poland. (Rzeczpospolita, p. B1) P.W.