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  Friday, October 18, 2019
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German Gref :"It is possible to accomplish the process of privatization in Russia within three years"
It is possible to accomplish the process of privatization in Russia within three years, if only all the structures show "political will", Russian Minister of Economic Development and Trade German Gref believes. "We have ample tools for privatization. Three years are enough for our system to digest all the property that must be privatized, the minister said during the discussion of the project of a mid-term program of Russian social and economic development with representatives of the Duma's two chambers. "The question is whether all government structures are ready to show 'political will' to launch this process instead of considering the strategic quality of every enterprise," the official added. German Gref also spoke out for the liberalization of the labor legislation, which, in his opinion, complicates the procedure of hiring and firing employees. The previous law allowed employers to curtail the staff if an enterprise were to undergo reorganization. Under the present law employers are obliged to keep all the staff, the minister specified. "This law thwarts the restructuring and reviving of whole industries," the official noted. In his speech the head of the Ministry of Economic Development and Trade stressed the importance of creating special economic zones, particularly technological parks to form an innovative economy. "There is no innovative system in Russia," the minister said. "By means of such a system it is possible to convert knowledge into a commercial product," he continued, "but there are neither financing schemes nor demand for that in Russia." "It is necessary to step up the whole economy, invest in innovative projects. Such kind of investment will require a special taxation," German Gref added.
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