Nov. 13 (Bloomberg) -- Russian President Dmitry Medvedev ordered Prime Minister Vladimir Putin to deliver a plan by March 1 for reorganizing state corporations.

“The absence of the necessary control over their activities leads to the inefficient use of the state property transferred to them in many cases,” the Kremlin, Medvedev’s seat of power, said today in an e-mailed statement.

The authorities must decide where the state is needed and pull out of companies where it is not, reaching an “optimal” level by 2012, Medvedev said in his state-of-the-nation address yesterday. Independent audits should be conducted at state corporations, Medvedev said.

“We are talking about the fate of many assets that currently have strategic status,” he said.

Three state corporations, Russian Technologies Corp., Russian Nanotechnologies Corp. and VEB, the development bank, may be transformed into state-controlled joint-stock companies as early as next year, Arkady Dvorkovich, Medvedev’s top economic adviser, told reporters after the speech.

To contact the reporters on this story: Alex Nicholson in Moscow at anicholson6@bloomberg.net.

Last Updated: November 13, 2009 07:46 EST