MOSCOW, June 17 (RAPSI) – Russian President Vladimir Putin called on law enforcement authorities to update legislation in the sphere of business during the plenary session of the St. Petersburg International Economic Forum on Friday.

Russia’s Prosecutor’s Office, Investigative Committee, Interior Ministry, Federal Security Service (FSB) and Working Group on enforcement matters in the field of business headed by the Chief of Staff of the Presidential Executive Office Sergei Ivanov are to monitor the situation regularly and take measures directed at modernization of the legislation, Putin said.

The President added that he had already submitted to the parliament a package of bills aimed at humanization of the economic law.

Putin stated that it is necessary to improve transparency and smooth relations between government institutions and business. Such relations should be based on understanding of mutual responsibility, strict compliance with law and respect for absolute value of private property institution.