Thursday, March 31, 2011

Medvedev Announces Measures to Improve Investment Climate in Russia

Russia’s President Dmitry Medvedev unveiled a plan that is supposed to eliminate the main threats for business in Russia. According to Medvedev, the measures should put an end to three main “nightmares” for business: the growing tax burden, corruption, and administrative barriers. In particular, Medvedev proposed to decrease the rate of social payroll charges, which are currently 34%. Medvedev also ordered that the practice of appointing ministers to the boards of directors of commercial companies be ceased. “The government is trying to be a better entrepreneur than businessmen, but this will never be so,” the President said. http://www.itar-tass.com/eng/level2.html?NewsID=16103725&PageNum=0 http://www.vesti.ru/videos?vid=328293 (video)

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