Russian business must feel calm, confident and protected, and the state must guarantee the security of entrepreneurs and their investments. This was stated by Russian President Vladimir Putin during a meeting with the chairman of the all-Russian organization “Business Russia” Alexey Repik in the Kremlin today, October 12.
The meeting, about which the Kremlin published information at 1:25 p.m. Moscow time, discussed measures to stimulate investment activity and improve conditions for the development of the private sector.
Putin asked Repik for specific proposals on actions that the state should take to help business overcome current economic challenges.
“I would like to discuss what the state should do so that business can feel calm, confident and safe in its own country and know that the state protects its interests“, said the Russian president.
He stressed that improving the investment climate is a constant task, as economic conditions change and new risks arise.
Russia is preparing a new investment cycle
The Chairman of “Business Russia“ Alexey Repik said that the next stage of the development of the Russian economy should be aimed at increasing productivity, implementing technologies and entering new markets.
According to him, investments in fixed capital in Russia have increased by nearly 40% between 2019 and 2024, but the current model of expanding production capacities is no longer sufficient.
“The next cycle should be a cycle of productivity, technologies and new markets“, Repik said.
He stressed that Russian companies have accumulated significant production and technological experience, which should be used more effectively for the country's economic development.
A new mechanism for financing investments is proposed
During the conversation, Repik presented an idea for introducing a tax investment certificate that would facilitate the financing of new production projects.
The proposal provides that the certificate can be used as a tool for obtaining a bank loan, and tax breaks can be applied at a later stage, after the investment begins to generate additional profit.
According to Repik, this way the state budget will not be burdened with immediate costs, and enterprises will be able to finance their modernization.
The business representative suggested that the concept be further discussed with the Russian government and the Central Bank.