Vladimir Putin called on Russian business to invest domestically.

The President spoke about this at a meeting on investment activity.

Putin noted that thanks to the purposeful economic policy of Russia, it was possible to avoid failure in this area of ​​work.

He also said that heads of companies and shareholders themselves must make decisions on investment activity.

At the same time, the President drew attention to the current situation.

“Bearing in mind that we are working in conditions of great uncertainty and a large number of uncertainty factors, I repeat, you decide for yourself, but it’s better to go home, it’s calmer and safer here,” the president stressed.

“The task of the government is to create conditions under which it would be more efficient to channel these resources ... not to pay dividends, and not to distribute somewhere there - in a legal way, in a legal way, I understand, - but somewhere there, in "Safe harbors" (but today they are quiet, tomorrow what will happen, we do not know, I mean these factors of uncertainty), and direct them to the development of their own businesses or new businesses within the Russian Federation, "added the Russian leader.

According to him, the Russian authorities, for their part, will do everything to ensure that the conditions for investment are stable and reliable.

“So that all these tools, which we talked about today and about the improvement of which we talked about today, so that they work in the most effective way,” Putin said.

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Priority areas of investment

The President recalled that by 2030 the annual volume of investments in fixed assets should grow by at least 70% against the level of 2020.

As Putin noted, these tasks are planned to be accomplished through work in four areas: infrastructure development, ensuring predictable conditions for the implementation of investment projects, consistently reducing investor costs when implementing investment projects, as well as providing companies and enterprises with access to financial resources for the implementation of investment projects.

In addition, Putin mentioned the order for the Federal Tax Service to monitor the profits and investment activity of the largest domestic groups and companies throughout the year.

The department should report on a quarterly basis what is happening with the increased revenues from the external environment, how these funds are converted into new projects.

As the Russian leader noted, priority should be given to projects that will help achieve national development goals.

“This is, first of all, ensuring the health and well-being of people, the growth of their incomes, real incomes, the formation of a comfortable and safe environment for life, the development of modern, convenient digital services.

I would like to note that these priorities are consonant with the global agenda, ”the President concluded.

At the same time, he stressed that the authorities have no desire to "squeeze" the business using non-market methods.

However, as Putin noted, business development should not be to the detriment of people.

On restrictions directed against Russia

During the meeting, the President also noted that the participants mentioned the actions of the Russian authorities in response to politically motivated restrictions on the economy in world markets.

These are steps that lead to positive results, the President said, referring to import substitution in this regard.

“The most important thing in our reaction to politically motivated restrictions in the economy, by the way, is only for the fact that we exist and for the fact that we show the ability to defend our national interests, because there is really nothing else here, this is not even import substitution” - Putin added.

In his opinion, the most important result of the sanctions was the creation of competitive conditions for doing business inside the country, for attracting investments, including foreign ones.

The Russian leader stressed that if the authorities at all levels continue to pay more attention to the investment climate in the Russian Federation, the steps directed against Russia will lead to an effect opposite to what was intended.

“If we do all this, then the steps taken against us of any kind, they will only benefit us,” the president summed up.

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