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Russia’s economy stays open for foreign partners — Mishustin

Moscow continue to develop mechanisms of investment and technological partnership, Russian Prime Minister said
Russian Prime Minister Mikhail Mishustin Dmitry Astakhov/POOL/TASS
Russian Prime Minister Mikhail Mishustin
© Dmitry Astakhov/POOL/TASS

YEKATERINBURG, July 4. /TASS/. Russia continues to develop investment and technological partnership with other countries, with its economy staying open for foreign partners, Russian Prime Minister Mikhail Mishustin said on Sunday.

"It is especially important in new conditions to develop the Russian industry in close cooperation with foreign countries, our partners. I would like to stress, in the format of mutually beneficial cooperation, of course," he said at a meeting with Russian and foreign businessmen during his working trip to the Urals Federal District.

Russia’s economy "stays open for European colleagues," he stressed. "And we continue to develop mechanisms of investment and technological partnership."

According to the Russian prime minister, a number of such instruments have already been developed. As an example, he cited the SPIC (Special Investment Contract) 2.0 mechanism "envisaging the use of the most promising on the global market technologies," he noted. The list of more than 600 technologies is being expanded. "We will continue to develop our competences jointly with foreign partners in all such areas," he pledged.

Coronavirus pandemic

The novel coronavirus pandemic has posed risks to macroeconomic stability but has facilitated digitalization and other changes in the industial sector that has been pressing for years, Mishustin said.

"The coronavirus pandemic in general has created risks to the global macroeconomic stability, has brought disbalance into the production sector, global trade," he said at a meeting with Russian and foreign businessmen during his working trip to the Urals Federal District.

However, in his words, the pandemic "has prompted processes of digitalization." "It was become a kind of a catalyst for a great number of changes that have been piling up in the industrial sector for year," he explained.

The Innoprom industrial exhibition

The Innoprom industrial exhibition has become an authoritative international platform, a venue for contacts between big manufacturers, Mishustin said.

"This year, we are holding this even jointly with our Italian partners. They are present at our meeting," he said at a meeting with Russian and foreign businessmen during his working trip to the Urals Federal District ahead of the opening of the Innoprom exhibition. "It only proves that over the recent years Innoprom has become an authoritative international platform, a venue for contacts between big manufacturers, industrialists, leaders in their industrial segments, who discuss prospects for industrial development from professional positions," he noted.

The Innoprom industrial exhibition is Russia’s major industrial, trade and export platform. It is held annually at the Yekaterinburg Expo international exhibition center, which has four pavilions with an overall area of 50,000 square meters and a congress center of 41,600 square meters.

In 2021, Italy will be a partner country. The exhibition will be held from July 5 through 8.

Low-carbon development

Low-carbon development and emission reduction will require a total restructuring of the economy and advanced technologies, Mishustiin said.

"The most important matter is the climate change agenda, which cannot be ignored. By today, more than 60 nations have decided on low-carbon development," he said at a meeting with Russian and foreign businessmen during his working trip to the Urals Federal District.

According to the Russian prime minister, emission reduction will be serious impetus for "restructuring the economy in general, developing new technologies in the industrial, energy, transport sectors." "It will require through transforming of the entire economy," he stressed.

Green generation

Russia’s authorities plan to double its green generation on localized equipment by 2024, Mishustin said.

"Some 2.5 gigawatt of green generation have been built in Russia with the use of localized equipment. In the next three years, we plan to increase this figure by more than two times, to 5.4 gigawatt by 2024," he said at a meeting with Russian and foreign businessmen during his working trip to the Urals Federal District.

The level of localization, in his words, will be at least 65% for wind power engineering and at least 70% for solar energy. "It is very important and, bearing in mind the importance of this sphere, we launched a new program of support to green generation this year. It will help increase the capacity of such power stations by nearly seven gigawatt at the expense of support measures only," Mishistin said.

Apart from that, the Russian authorities ay big attention to the modernization of industrial facilities to reduce negative impacts on the environment, he added.