Kasyanov On The Importance Of Increasing Investment Attractiveness Of Russian Economy

Adoption of a Code of Corporate Conduct will help increase the investment attractiveness of the Russian economy, Russian Prime Minister Mikhail Kasyanov told a cabinet session, Wednesday, dedicated to the aforementioned Code. According to the premier, investors keep reproaching the Russian government for being unable to improve the country's corporate management and make the Russian market as transparent as it is internationally accepted; this, in Kasyanov's words, is what accounts for the low investment attractiveness of the Russian economy. Reminding the session that the cabinet has already discussed the problem on numerous occasions with both Russian entrepreneurs and foreign investors, the premier said he hoped that authors of the future Code of Corporate Conduct took heed of the interests of both investors and the state and paid due attention to shareholders' rights. In the meantime, the cabinet has already approved a number of legislative acts that are expected to improve Russia's investment climate, including some related to incorporated societies and the securities market. More steps towards improvement of the country's investment climate will be taken in the next couple of years.