Germans look for modernizing Russian economy and infrastructure
Sam Adelton
Jul. 26, 2010

Russian President Dmitry Medvedev has offered the Germans to activate their participation in the modernization of Russian enterprises, including non-strategic companies. The volume of German investments in the economy of the Russian Federation will reach about $20 billion as of the end of March of 2010.

This happened during the meeting with German Chancellor Angela Merkel and German entrepreneurs in Yekaterinburg, with the Russian President Dmitry Medvedev.

"I hope that German structures will take part in the modernization of companies which they can be interested in, but not limited to my decision about the reduction of the number of strategic enterprises," Medvedev said addressing the members of the Russian-German business forum in Yekaterinburg.

The president paid attention of potential German investors to the enterprises which were no longer categorized as strategic. The fivefold reduction was announced in June of this year at the International Economic Forum in St. Petersburg. Medvedev stated at the forum that the number of strategic joint-stock companies would be cut from 208 to 41, and federal unitary enterprises - from 230 to 159. The privatization of the no-longer strategic enterprises is expected to bring 72 billion rubles of profit this year, RIA Novosti reports.

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