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Russia Will Upgrade 20 Spots in Doing Business with New Civil Code
31.05.2012 10:21 / Interfax
“If we decide to amend a number of Civil Code chapters, from company registration to certain corporate governance norms, this will automatically upgrade Russia in this rating. We will no longer be #120, we will be at least in the Top 100 by default”, he said.
Upgrading from #120 to #50 by 2015 and to #20 by 2018 in Doing Business was the goal set by President Putin in his first decree following inauguration.
Dvorkovich pointed out that improving Russia’s rating could be achieved by simply introducing amendments to legal norms, before they have been enforced.
The Vice Premier noted that the amended Civil Code has been introduced to the parliament, and passed the first reading at the Duma. “Not every norm in the amendments is considered perfect by the community so far”, said Dvorkovich. He said that the lawyers, the investment community and the companies are yet to improve the amendments.
“However, we want to make a step forward, in terms of our message to the market too. There are simple indicators: Russia’s placements in business environment ratings”, said Dvorkovich.