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Russia’s new economy minister calls on foreign businesses to invest more in Russia

January 12, 9:57 UTC+3
The minister says the government’s key task in 2017 is to work on ‘certainty’ of economic conditions for business in Russia
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MOSCOW, January 12. /TASS/. Russia’s Economic Development Minister Maksim Oreshkin has called on foreign businesses to invest more in the country’s economy.

"From the viewpoint of real economy, in a situation when the economy is recovering and the government is focusing on overcoming structural growth constraints, those who invest more will get more payoff from their investments, while those who hold over investment decisions will have the lower hand. That’s why I’m calling on all foreign colleagues to make investments," Oreshkin said Thursday.

Government’s key task in 2017 is to work on ‘certainty’ of economic conditions for business in Russia, he went on. 

"In order to focus on the global market when working in Russia, to integrate Russia into global cooperation chains, another level of certainty for business is needed. The important issue is the certainty in terms of how the economy responds to oil price volatility, how sustainable the tax system is, how the country is regulated in general. I think the key task for the government this year is to address the issue of this certainty and to understand the model of economic development," the Minister said.

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