Russian government ownership of various companies and organizations, collectively known as state-owned enterprises (SOEs), still play an important role in the national economy. The approximately 4,100 enterprises that have some degree of state ownership accounted for 39% of all employment in 2007 (down from over 80% in 1990).[1][2] In 2007, SOEs controlled 64% of the banking sector, 47% of the oil and gas sector, and 37% of the utility sector.[2]
State corporations are established by the Russian government to boost industrial sectors.[3] Rosstat figures from early 2013 showed that 529,300 enterprises were partly or wholly owned by the state, of which approximately 31,000 were commercial companies (generating revenue).[4] The 54 largest enterprises accounted for over two-thirds of the total revenues generated by state-owned organizations.[4] SOEs accounted for 40% of the capitalization on the Russian stock market, one of the highest shares in the world.[4]
Legal form
Russian state-owned companies are typically established under the legal form of joint stock companies (OAO or ZAO), unitary enterprises (federal, regional or municipal), or state corporations.[2]
Joint stock companies
OAO and PAO are forms of open joint-stock companies, while ZAO (and AO) are closed joint-stock companies.[5][6]
The Federal Agency for State Property Management (Rosimushchestvo) is authorized by the Russian government to exercise shareholder rights for federally-owned shares in companies and is responsible for the preparation and nomination of candidates at the annual meetings of shareholders.
Companies
Information on the legal form of companies is drawn from the open-data portal of the Federal Agency for State Property Management,[9] unless otherwise stated.
Privatization
Since the first waves of privatization in the 1990s, the Russian government has sold stakes in several companies, often while continuing to hold a significant degree of ownership. In 2016 this included the sale 10.9% of Alrosa,[10] and 19.5% of Rosneft.[11] Privatization plans for the 2017-2019 period include selling stakes in VTB (10.9%), Sovcomflot (25% minus 1 share), and Novorossiysk Commercial Sea Port.[12]
See also
- Federal Agency for State Property Management
- List of strategic organizations of Russia
- Media of Russia
- Privatization in Russia
External links
- Register of enterprises owned by the Russian Federation, state corporations and economic associations, the shares (stakes) of which are owned by the Russian Federation - Federal Agency for State Property Management
References
- Russia - Competition from State-Owned Enterprises export.gov, retrieved 3 February 2017^
- State-Owned Enterprises in Russia - Presentation at the OECD Roundtable on Corporate Governance of SOEs OECD.org, retrieved 3 February 2017^
- Putin Backs Creation of Giant Russian Space Corporation