State to pressure bailed-out-of-crisis companies to participate in modernization

Author: Inga Friedelhaus Section: Major Events of the Month

Issue: March 2010, Vol. 5, No. 2

Tags: Investments

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Modernization Pressure

Speaking on measures to boost Russian investment climate in February, President Dmitry Medvedev made it clear that he plans to strictly monitor the participation of large companies that received state’s financial support during the crisis in projects aimed at modernizing the economy.

“Last year, the state was forced to dip into its reserves to bail out several companies, a policy that enabled them not only to retain their assets, but also to make profits. Therefore, the government has the all rights to count on these companies to be seriously engaged in investment projects and take more active parts in the economy modernization programs.”