Naturally enough, the issue of minority shareholders became topical, after the merger of both major companies was announced, Mr. Fradkov told a conference "Russia: Investing Into Economic Growth" today.
In his words, the reorganization of this large company is an involved technical and legal issue.
The Gazprom reform aims to enhance its capitalization, to make the company transparent and transnational; moreover, Gazprom must fit into the Russian and global market environment, also boasting a more attractive investment climate, Mr. Fradkov noted.
As I see it, all prospective investors will be attracted, and their interests complied with, Mr. Fradkov added.
The Prime Minister confirmed plans for overhauling large state-run companies on Russian territory.
First of all, the Government of Russia confirms the fact that its line at overhauling big state-run companies will remain unchanged, Mr. Fradkov went on to say. Second, we'll heed Russian realities, while implementing such reforms, he stressed.
Still one should keep in mind that we'll try and balance ready-made Russian market instruments with Russian economic realities, the Prime Minister noted, while replying to investors' question about specific Gazprom and Rosneft reform prospects, that of the RAO UES (Unified Energy Systems) power grid included.
We'll provide information about all major corporate reforms, Mr. Fradkov said. The Government will heed the situation in Russian regions, as well as the rudimentary market infrastructure, while preparing for such reforms, he noted.
We want to avoid excessive state influence; at the same time, we want to work out specific rules of the game enabling the state to participate in economic operations, Mr. Fradkov stressed.
In his words, the Russian economy still faces many problems; this concerns the banking market, the stock market, as well as other economic sectors.
We'll have to fine-tune specific instruments, which would bring reforms in conformity with economic realities, Mr. Fradkov told his audience.
Nationwide inflation won't exceed projected 10-percent levels this year, Mr. Fradkov is sure.
We can still attain 10-percent inflation before the year is out, he said.
Inflation totaled 7.6 percent over the January-August 2004 period, standing at 8.3 percent in January-August 2003, Mr. Fradkov said in conclusion.
