Investment Climate in St. Petersburg and Leningrad Oblast

Why do OEMs require local content? Decree 166 (OEMs) was passed in 1H2005 and Decree 566 only in the end of 2006; Almost all new OEMs project are run under decree 166; OEMs who operated under different regimes (e.g. Ford under decree 135) switched to decree 166; ► Suppliers are coming with a substantial lag in time; Decree 566 still contains a number of uncertainties; Very few suppliers have already signed an agreement with MEDT (most just memoranda of understanding) Will decree 566 be extended to ensure investment into component manufacturing? September 4, 2008 15 Investment Climate in St. Petersburg and Leningrad Oblast ERNST & YOUNG Quality In Everything We Do

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