Event: 17-18 October 2005 in Moscow

As Russia continues to reform its economic, political and social policies, it must consider many critical factors to steer the country towards a strategic development. The business community is still cautious of the current economic reforms in Russia.

The 2005 World Economic Forum in Russia allowed business leaders to provide recommendations on key issues outlined in the Forum's Russia Scenario Project. The issues addressed included developing Russia's businesses, dealing with corruption, and passing new disclosure laws, among other topics. The recommendations received from this discussion will help shape additional regional and industry analyses.

The discussions over the two-day meeting were guided by two questions:

• Will Russia be able to develop legitimate and effective governance, based on the rule of law?
• To what extent will diversification be achieved in Russia’s economy?

Deloitte representatives from the Russian member firm, Alexander Doumnov and David Pearson, joined an exclusive group of 290 business executives and government officials to help the Forum develop an action plan to address these questions.