Russian companies urged to buy foreign businesses

Other News Materials 1 February 2008 04:06 (UTC +04:00)

( RT ) - Prominent politicians and businessmen have gathered in Russia's southern city of Krasnodar to discuss the improvement of the business environment in Russia. Speaking at the forum, the first Deputy Prime Minister said predictability of the economy is the main priority for the country.

The forum focuses on the interaction between state corporations and private businesses, as well as investment policy.

The first Deputy Prime Minister, Dmitry Medvedev, said Russian companies can count on government support at home and abroad, especially in the highly competitive energy and hi-tech industries.

"Our companies are already actively developing production in Russia. But it's also important to invest in foreign businesses, by either buying whole companies or shares. Most major countries are already doing it. And some, like China, are doing it quite actively. We could follow their example," said Mr Medvedev.

The Krasnodar region will host the Winter Olympics of 2014, and investment opportunities for the area are also high on the agenda.

The event takes place at a time when Russia is seeking to diversify its economy away from oil and gas by encouraging greater investment in hi-tech projects.