Russia's President Dmitry Medvedev urged the government on Wednesday to take systemic measures to improve the country's investment climate and provide better conditions for initial public offerings.
"We need to provide more comfortable conditions for domestic and foreign companies for initial public offerings. According to the data I have, in the first eleven months of this year 14 companies have placed their shares in Russia, a figure that we can hardly be proud of. Of course, this is connected not only with legislation but also with our investment climate," Medvedev said.
"Yesterday I convened a government meeting and said we have a bad investment climate in the country," he added.
"We agreed to work on the issue next year. Of course, it cannot be solved immediately but it should be solved by systematic work by different structures, starting from the president, the head of the government, legislative structures, the judicial system and ending with local officials and our law enforcement agencies," Medvedev added.
MOSCOW, December 29 (RIA Novosti)