Russia — hoping to overcome its global reputation as a breeding ground for graft — has hired Goldman Sachs Group Inc. to advise on government communications and investor dealings.
President Vladimir Putin ordered the government in 2012 to boost the country’s standing in the World Bank’s Doing Business rating to No. 20 by 2018, Bloomberg reported. By October, the country was listed as No. 12 — up eight notches. The nation still rates the worst among major economies for graft, according to an annual Corruption Perceptions Index report from Transparency International.
“We don’t know how to communicate with investors,” said Deputy Economy Minister Sergei Belyakov, according to Bloomberg.
Goldman has entered a three-year agreement with Russia’s Economy Ministry and the Russian Direct Investment Fund, Bloomberg reported.
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Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at cchumley@washingtontimes.com.
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