Experts at International Investment Forum Urge Russia to Boost Competitiveness

According to experts at the 11th International Investment Forum in Sochi, Russia's economic potential is being lost by poor management, with absolute government dominance at the root of many of the country’s key problems. “If you have too strong government dominance, then you have problems with things like corruption, inefficiency, no clear targets and things like that,” noted Ilkka Salonen, chairman at Uralsib bank.  Russia ranks 67th on the global competitiveness scale, and lags behind in efficiency as well. Under the TP-Index that shows a company's turnover to workforce ratio, each worker at Russia’s largest private energy company Integrated Energy Systems produces an average of $175,550 in annual revenue, while by comparison, workers at US Energy Future Holdings produce an average of $895,650 in annual revenue. Overall, 244 agreements were made at the 2012 Sochi Forum, worth $11.1 billion. The figure compares with 295 deals worth $13.85 billion done in 2011.
http://rt.com/business/news/sochi-forum-government-economy-836/