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Article: Privatization or else. (privatization in the Commonwealth of Independent States)
- Article from:
- Chief Executive (U.S.)
- Article date:
- January 1, 1993
CopyrightCOPYRIGHT 1993 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In a massive privatization program, the CIS has thrown open its doors to foreign investment. A former deputy prime minister of the U.S.S.R., who now heads the Russian equivalent of the Treuhand, lays out arguments in favor of Western involvement--and talks about some of the risks.
Call them capitalists without capital. Convinced of the need to convert to a free-market economy, the CIS has opened its arms to foreign investment and embarked on an ambitious, radical privatization program. With few exceptions, however, the country's businesses remain starved for the hard currency needed to upgrade aging, decrepit equipment and to retrain workers, while the program itself ...