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    Russia's Medvedev says time to sell state property

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    Russian President Dmitry Medvedev urged on Tuesday "more active" privatization of federal property and ordered the government to prepare proposals on the issue.

    Russian President Dmitry Medvedev urged on Tuesday "more active" privatization of federal property and ordered the government to prepare proposals on the issue.

    "We should conduct more active privatization of federal property, including by large investment-attractive companies. The goal is not just to increase budget incomes, but also to support competitiveness and favorable investment climate vital for large-scale improvements in the modernization and innovative development of the economy," Medvedev said during his 2010 draft budget speech to the government.

    "We should increase the efficiency of how state investments are used. Along with the tasks which are fully in charge of the state, they [state investments] should give a boost to private investment into spheres and projects where extra-budgetary resources are possible and reasonable," he said.

    The Russian leader also called for the development of mechanisms of private-public partnership, such as trade missions, export loans and state guarantees.

    "Primarily, this concerns high-tech production industries, nuclear and energy engineering and military equipment," Medvedev said.

    MOSCOW, June 29 (RIA Novosti) 

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