At the end of 1988 there were 965 joint ventures registered in the USSR (most in the service industry), 20 of them involving Canadian firms. Just before Prime Minister Brian Mulroney’s visit to Moscow in late November, there were 1,100 joint ventures, 24 of them with Canadian firms. It is clearly a method of doing business that is gaining momentum.
One reason is that the rules have changed. Foreign joint venture partners, once limited to a 49% interest, can now hold up to 50% and be operator of the joint venture. Soviet entrepreneurs still need approval from a legal association, but they no longer need approval from the ministry level in Moscow.
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