FAS head: “Russian state corporations should be abolished”

FAS head: “Russian state corporations should be abolished”
Igor Artemyev

To develop competition, the state monopolies must become joint-stock companies.

State participation in the Russian economy must be reduced by re-registering state corporations as joint-stock companies. This will serve as an impetus for the development of healthy competition in the country, says Igor Artemyev, the head of the Federal Antimonopoly Service (FAS).

“Russian state corporations should be abolished, they should take other forms such as joint-stock companies. They should become simple joint-stock companies without privileges, then there will be competition,” said Artemyev.

According to the head of the Federal Antimonopoly Service, the idea is going to be implemented during the execution of the National Plan for the Development of Competition for 2021-2024.

Currently, eight organizations are officially considered state corporations: Deposit Insurance Agency, Vnesheconombank (VEB), Rusnano, Rostech, Rosatom, Roskosmos, Housing and Public Utilities Reform Assistance Fund, and Olimpstroy.

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