The latest Global Competitiveness Index (GCI) survey was published in early September. Of course, we are not very happy about this survey because Russia was ranked 67th.
To be sure, the report mentions our strong points as well, including those macroeconomic parameters I’ve just mentioned. Add to this our impressive innovation potential and a high-quality system of higher education, which we are nevertheless trying to improve. The immature regulatory basis, sluggish competition on the goods and services markets, corruption, of course, and an ineffective administrative system are key problems hampering economic development. One finds it hard to disagree with this, although we are not standing idle. We are doing meaningful work to improve our legislation and the performance of government bodies. As for our actions in the innovation and investment spheres, one should note our recently created development institutions, which have achieved some impressive results. Of course, I would like to single out the Skolkovo Centre, which already has more than 600 registered participants, and the Russian Direct Investment Fund, which attracts four roubles’ worth of private investment per every rouble of federal investment.
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