Russian Emergencies Ministry says over 70 homes burn down in SiberiaSociety & Culture May 24, 18:49
International Chekhov Theater festival opens its doors for 13th time in MoscowSociety & Culture May 24, 18:44
Putin decorates commandoes for two-day face-to-face clash with militants in SyriaRussian Politics & Diplomacy May 24, 18:31
Experts say rising military spending to push Europe to reconsider NATO’s roleRussian Politics & Diplomacy May 24, 17:56
Poll shows 25% of Russians expect headway in ties with France during Macron’s presidencySociety & Culture May 24, 17:33
Former Finnish PM points to signs of improvement in Russia-West relationsWorld May 24, 17:20
Russia's legendary Su-27 jet fighter marks the 40th anniversary of its first flightMilitary & Defense May 24, 17:19
Russian lawmaker comments on US decision to end military subsidies to UkraineRussian Politics & Diplomacy May 24, 16:30
Nine Russian missile regiments rearmed with advanced ICBM systemsMilitary & Defense May 24, 16:01
MOSCOW, October 22. /TASS/. Russian President Vladimir Putin has asked the non-government organization Delovaya Rossiya (Business Russia) to present proposals for raising the attractiveness of non-raw materials sectors of the economy with the use of support measures drafted for special economic zones and outpacing development territories. He issued the instructions at a meeting with Business Russia Chairman Alexey Repik on Wednesday.
Repik said that so far no steps had been taken to encourage the emergence of manufacturing industries. He believes that newly-founded competitive businesses outside the raw materials production sector, specifically, new manufacturing operations should be entitled to the same measures as the outpacing development territories or special economic zones.
Putin requested thorough analysis into this idea. Despite the current situation, Repik said, “our partners” are very interested in opportunities to invest in the Russian economy. For a successful implementation of that idea, financing to build new production facilities must be easily available.
“We are not asking for any investment from the National Welfare Fund. We are not waiting for a rain of gold. We just believe that we must use the resources that are available in the economy,” Repik said. “Instead of investing into US treasuries with their close-to-zero yields or making deposits in foreign banks at meagre interest rates (which sometimes can never be recovered), I believe that we shall be able to offer to Russian lenders a good system of investing their capitals from the standpoint of yields and safety.”
Business Russia suggests establishing a sort of a “wedding agency” for domestic and foreign businesses, which would be able to create more joint ventures in Russia.
The ultimate aim of his idea is "even when either partner decides to quit, the technologies, know-hows and other assets will stay in Russia." "In that case the country will have no blank spots in critically important industries," Repik noted.
“Technological investments should be pouring into the country through strategic partnerships and through joint ventures to remain in Russia,” Repik said. “Of course, large foreign companies that may decide to build industrial facilities here is very good, because these spell jobs and taxes. But tomorrow they may succumb to external pressures to lock the factory gate and go, leaving us with no compensation,” he explained.