Translation. Region: Russian Federal
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Deputy Prime Minister Alexander Novak took part in the session “Business Climate of Russia. National Model and Regional Opportunities” at the St. Petersburg International Economic Forum. The session was also attended by Minister of Economic Development Maxim Reshetnikov, General Director of JSC “Barkli” Leonid Kazinets, Chairman of the public organization “Business Russia”, founder of the R-Pharm group of companies Alexey Repik.
Alexander Novak recalled that one of the key tasks for economic development set by the President is to increase investment by 60% by 2030 and ensure sustainable economic growth in the long term.
“To achieve ambitious goals to attract investment to the economy, it is important to create a favorable investment climate. Much work has been done in this direction in recent years. The National Entrepreneurial Initiative, the National Investment Climate Rating, and “Business Climate Transformation” were launched. In 2020, as a result of this work, our country moved up in the Doing Business rating from 123rd to 28th place. In certain areas, the breakthrough was even more significant. We worked on simplifying procedures and reducing the time it takes for organizations to connect to networks in the electric power industry. Thanks to the successful joint work of businesses with the Government and the regions, we moved up from 168th to 8th place in the rating for this indicator,” said Alexander Novak.
Among other important steps to improve the investment climate, he named the implementation of a project to reengineer industrial construction rules, the reform of regulatory authorities, the improvement of corporate regulation, and the introduction of regional and municipal investment standards. All of this has had a positive impact on investment activity in the regions and throughout the country, but today this work needs to be restarted in order to enter the top twenty countries among 180 participants in the World Bank’s Be Ready investment climate business rating by 2030.
To this end, on the instructions of the President, a national model of target conditions for doing business is being developed jointly with the Agency for Strategic Initiatives. With the participation of businesses, representatives of federal and regional authorities, 11 working groups have been created for the entire life cycle of business: from registering a company to deploying work within the country and selling its products abroad. Business conditions will be improved according to 40 criteria and 150 indicators at the federal level and 27 indicators at the regional level.
The national model of target conditions for doing business will be launched next year, which will help to achieve one of the national goals of attracting investment into the Russian economy.
At the end of the session, Alexander Novak announced the results of the National Investment Climate Rating for 2025. The Deputy Prime Minister presented an honorary diploma for first place to Moscow Mayor Sergei Sobyanin – the capital became the leader of the rating. Two regions at once took second place in the rating: Nizhny Novgorod and the Republic of Tatarstan. Third place was taken by the Moscow Region and the Republic of Bashkortostan.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.