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Russian Presidential Aide Comments On Future Of State Corporations


Russian presidential aide Arkadiy Dvorkovich has told journalists that the state corporations Vnesheconombank, Rostekhnologii and Rosnanotekhnologii will be transformed (as received; Dvorkovich actually said that they might be transformed) into joint-stock societies in 2010, "The state corporations whose operation is limited in time - Olimpstroy and the one dealing with housing and communal services - will simply cease their existence once they have achieved their tasks," Dvorkovich said.

"On other state corporations, there is a differentiated approach," he said. He cited the example of Vnesheconombank and Rostekhnologii on which "there are instructions for their transformation into open joint-stock societies under state control, with the sale of assets in the future". "This may happen next year," the Kremlin representative suggested.

As regards Rosnanotekhnologii, according to him, it is "most likely to be transformed into a joint-stock society next year".

"On Rosatom (Federal Agency for Atomic Energy) and the time deposits insurance agency, their operations are of a special nature," Dvorkovich said. "We will be watching the transformation of their work over the next few years," he said. The presidential aide said that "no risks will be created for deposit insurance and the operation of Rosatom, whose projects are of a strategic nature".

Dvorkovich added that there were no legal obstacles to the transformation of Rostekhnologii into a joint-stock society. "The law does not say that defence enterprises could only be state owned," he said, adding that factories dealing with nuclear technologies would remain in state hands.

(Passage omitted: in his annual address to parliament on 12 November, President Dmitriy Medvedev said that state corporations as a form of business "generally have no prospects")

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