PM says vast majority of Russian industries lack competition

MOSCOW, Sep 2 (PRIME) -- Competition is low on many Russian markets, Prime Minister Dmitry Medvedev said at a government meeting on Wednesday.

“Competition is growing in some sectors of the economy, in particular, on markets of air traffic services in airports,” Medvedev said. “In general, this is a good thing but nevertheless, competition is below the necessary level on a vast majority of markets so far.”

The barriers for new businesses are created by large market players who control resources, red tape and technological difficulties, he said.

Medvedev said that unlike most industries, competition in the economy class housing construction, restaurant and hotel businesses is rising.

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