2 Feb 2010 17:34

Large companies must help modernize Russian economy - Medvedev

MOSCOW. Feb 2 (Interfax) - The government expects large companies that were bailed out during the crisis to actively invest in modernizing the national economy, Russian President Dmitry Medvedev said at a meeting focused on the problems in Russia's investment climate.

"Those preferences that we are creating in certain areas of investment apply to large companies as well. Last year the government supported large companies, mainly in the primary sector, but not just there. Substantial reserves that accumulated during the pre-crisis period had to be spent to support them. Not only have these companies preserved the assets, they added something, too," the president said.

"This is why the government is entitled to expect these companies, which received state support, to be involved in investment projects and to actively invest in the modernization of the Russian economy, and not just continue the policy of increasing commodity exports," Medvedev said.

"So far they are sleeping," the president said and ordered the government to ensure proper control over these processes.