Putin: Russia has to update procedures, regulation in economy

MOSCOW, Oct 25 (PRIME) -- Russia has to update the procedures and regulatory bases in the economy in general and in the individual industries in order to ensure smooth work of the military operation, President Vladimir Putin said on Tuesday at a meeting of the government’s coordination council for satisfying demands of the military forces.

“My colleagues and I have said repeatedly and because of different reasons, including the well-known economic restrictions and because of the military operation, that we have to update the procedures and the regulatory base,” he said.

A deep and wide-scale cooperation between all the authorities is vital, the economic authorities, the military authorities, and the regional authorities should work together, he said.

Russia has to strengthen competition in its economy in order to make high-quality products in all directions. Efficient and modern companies should emerge, especially in the medicine and housing construction sectors, Putin said.

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