Vladimir Putin, concerned over the slow growth of small and medium-sized businesses in Russia, suggested analyzing business priorities on the internal and external markets, as well as vehicles of loosening bureaucratic fetters in the economic life. The President welcomed the decrease of licensed activities since the year 2000 to merely 104. The tax system was simplified by introducing only one tax in the management of natural resources instead of the former three.
The Russian Government policies are designed to create favourable conditions for the development of Russian business, said Mr Putin.