¥Joint Ventures
–1988 Joint Venture legislation
–Up to 49% foreign ownership
–Apparent goal of importing and
modernizing technological base of
such firms
–Output of JVs not subject to state
orders or goszakazy
–All profits exempt from Soviet (remember
1988 law) taxes for first 2
years
–Lack of convertible ruble retarded
JVs
–October 1990 decree, allowed for 100%
foreign ownership