Dmitry Medvedev made this statement at a meeting on the investment climate in Russia.
Russia's economy is open for investment, President Medvedev noted. In particular, a full-value tax system has been set up, tax rates are low, foreign exchange regulations have been liberalised, and clear rules regulating the access of foreign investors to strategic industries have been laid out. Nevertheless, Mr Medvedev remarked, Russia still ranks 120th among 183 countries in terms of favourable business climate.
Dmitry Medvedev cited the most pressing task as overcoming elements that have a negative impact on the investment climate, including the poor quality of federal and local government, poor law enforcement, corruption and economic crime, excessive administrative, technical and information barriers, and a high level of monopolization.
Noting that the post-crisis global economic recovery will create favourable conditions for the growth of foreign investment, Mr Medvedev outlined a set of measures that will increase investment activity and improve the investment climate in Russia.
Furthermore, Mr Medvedev emphasised that the large national companies which received government subsidies during the crisis must demonstrate investment into the modernisation of Russia's economy.