ST. PETERSBURG, June 16. /TASS/. Russian President Vladimir Putin instructed to develop a domestic model of target conditions for doing business based on the global experience.

Ratings of the World Bank were earlier used for assessment of conditions of doing business, the head of state said at the St. Petersburg International Economic Forum (SPIEF). "Certainly, such rating has the reason, the good message stimulating competition. This idea need not be rejected," Putin added.

Still, it is critical to have objective criteria "to assess our work and progress achieved on the outside," the Russian leader said. "That is why I ask the government in cooperation with the business community or business associations and the agency for strategic initiatives to develop a domestic model of target conditions of doing business at the national level, definitely catering for the best global practices, so that to realize this model step by step in practice in the country on the whole and in each specific region in particular," he added.