Russian PM signs roadmap to improve investment climate

Russian Prime Minister Dmitry Medvedev has endorsed a roadmap of steps to be done to create an international financial center and to improve the investment climate in Russia, the government’s press service reported on Monday. “The decree in aimed to achieve a certain level of control indices of the implementation of the roadmap that are relevant elements of the Doing Business rating of the World Bank, the global competitiveness rating of the World Economic Forum, including those related to corporate governance and Russia’s and Moscow’s positions in recognized international ratings,” the press service said. The roadmap uses indicators that characterize the demand of financial market players in the present-day financial products and services, and key events proving the establishment of institutes and mechanisms to ensure better accessibility of financial resources. “The implementation of the decree will make it possible to enhance the competitiveness of the Russian financial market by means of accelerated development of the financial sector, the increase in the volume and improvement of the quality of financial products and services offered in Russia to Russian and foreign investors, attracting strategic and portfolio investments, removing price discount of the cost of Russian financial assets as compared with assets on other developing markets, accelerated investment and business activity in the economy, and ensuring long-term stability of Russia’s financial system,” the press service said.