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#11 - JRL 7060
Head of Chamber of Commerce and Industry on planned investment growth

Moscow, Russia, Feb 12, 2003 (RosBusinessConsulting via COMTEX) -- The growth of investments in Russia, planned at 2.5 percent, is not sufficient for the normal development of the country's economy, President of the Russian Chamber of Commerce and Industry Yevgeny Primakov stated at today's meeting with chairmen of the Chamber's committees. According to him, it is necessary to accelerate investments in Russian companies, first of all in industrial companies, due to the considerable wear on their production facility equipment, as their average age is about 30 years. In Primakov's opinion, one of the steps for streamlining old facilities would be "a maximal simplification of imports of necessary equipment to Russia". As for Priority lines of the Chamber's activities in 2003, Primakov listed problems of investments and innovations, industrial policies, support and development of small businesses, and Russia's accession to the WTO. Primakov reported that in connection with this, the Chamber suggested obligatory membership of Russian companies, which had received licenses for entrepreneur activities, with the Chamber. "However, compulsory membership with the Chamber of Commerce and Industry of certain Russian companies is a strategic goal; currently, the Chamber cannot order them to do this; in the near future, we would like to introduce obligatory membership for small businesses in the Chamber at corresponding local authorities," Primakov stressed.

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