Russian government ownership of various companies and organizations, collectively known as state-owned enterprises (SOEs), still play an important role in the national economy.
As a general rule, Rosimushchestvo nominates to a company's board of directors representatives of the most relevant government body, based on the sectoral characteristics of the business.
[7] A state corporation (Russian: государственная корпорация) defined by Article 7.1 of NCO Law is a non-profit organization which manages its assets as described in its charter.
A state company (Russian: Государственная компания) defined by Article 7.2 of NCO Law is a non-membership non-profit organization.
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.
[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.