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Strategies & Market Trends : Investment in Russia and Eastern Europe
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To: Real Man who started this subject6/3/2004 4:15:45 AM
From: Copperfield   of 1301
 
WB President attends conference on corporate governance in Moscow

RosBusinessConsulting. Thursday, Jun. 3, 2004, 12:01 PM Moscow Time

To make Russia more attractive for investments one should focus on using human capital, World Bank President James Wolfenson announced at a conference on corporate governance in Russia, which takes place in Moscow. According to him, the Russian government understands that the economy cannot grow without human resources. The target of doubling the Russian GDP will be achieved if the Russian government forms positive environment for the long-term development, Wolfenson stressed. According to him, Russia should use not only raw materials but shift to using human capital and "entrepreneur capital" in the nearest 4 years, as well as environment spurring the use of human resources should be built. Thus, the country will likely become more attractive for investors. Over the past 12 year Russia has significantly moved forward and therefore its targets for the next 12 years might become more challenging. One of possible targets for Russia is to build that economy, which reflects Russia's potential most accurately, Wolfenson stressed. He has also emphasized the necessity to build a positive environment for Russian small and medium-sized enterprises.
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