Russian president to open Davos forum

Dmitry Medvedev, the President of Russia, already reeling from the airport suicide bombing in Moscow, will open the World Economic Forum in Davos, Switzerland.

Medvedev’s trip to the forum has been curtailed by the bombing, but not cancel it.

The president's press secretary said Medvedev's schedule in Davos has been reduced to two events -- he will meet with business council members and then speak at the opening ceremony.

The president will return to Moscow late on Wednesday.

According to media reports, Medvedev is eager to promote his country’s massive privatization scheme in front of the world’s business elite and to attract foreign capital to boost the Russian economy.

On a broader basis, Russia would like to create the image that it is a vibrant, modern and innovative economy.

However, many foreign investors are cautious about putting money into Russia, and is greatly concerned by the nation’s rule of law and the regulation of its markets and economy. The recent arrest and conviction of former oil boss Mikhail Khodorkovsky did not allay those fears.