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The Russian government plans to manufacture a global civil aircraft, nuclear energy output, and building of ships plans to account for 10% worldwide share on the year 2020, as stated by First Deputy Prime Minister Sergei Ivanov last Saturday in St. Petersburg for the Russian Economic Forum
The Prime Minister stated that they are hoping that Russia will be one of the top five in leading economies. To be one of the top five leading economies the country must be able to tackle a series of problems the major would be corruption.
The corruption remains to be the country’s soft spot, the prime minister stated.
Businesses are hindered to enter the market because of unequal conditions in competition. Monopoly in the local market restrains growth on small and medium sized businesses.
To sustain the development of the economy, Russia demands for a better-quality legal structure and vast development to infrastructures. The government’s effectiveness in the ordinances or regulations and the quality of services are low.
In addition, a comprehensive strategy in the six months period will be finished; this will envision the plan of the government to attract foreign investors and the international economic cooperation.
The major state industrial holdings establishment will not imply of returning to the states monopolies, in a separate manner, Ivanov stated.
To motivate the competitive environment the government goes hand in hand for the creation of the industrial holdings, such as the initiating of these sectors in the international competition.
The shares of this newly formed industrials holding will catch the interest of the investors, such as the strategic ones, and most likely be traded freely.
02:14
Posted on Jun-11-2007
