What did Vladimir Putin say at the congress of the Russian Union of Industrialists and Entrepreneurs. Main

Russian President Vladimir Putin spoke on March 16 at the congress of the Russian Union of Industrialists and Entrepreneurs in Moscow. This is his first meeting with business since February 2022. The head of state noted that the situation in Russia is “without exaggeration unique” for many domestic companies. Those who stayed in the country turned out to be smarter than those who left, Putin said, and there are “huge opportunities” in Russia for almost any business.

The President noted that Russia’s foreign trade turnover for 2022 increased by 8.1% to $850 billion, including exports grew by almost 20% – 19.9, while imports decreased by almost 12 – 11.7%. The trade balance surplus amounted to $332 billion, which is 70% more than in 2021. “I would like to note here the leaders of Russian business, their management teams, who in a short time, in the face of serious external pressure, managed to rebuild investment and trade chains, and established logistics routes , opened up new areas for cooperation and cooperation with predictable, conscientious foreign partners,” he added.

Speaking about the level of inflation, Putin outlined its possible level of 4-5%. “Of course, it will be lower than in the eurozone countries, which are endlessly waiting for the collapse of the Russian economy and are trying to convince themselves of this and our partners are trying to convince of this. Let us recall again the famous American writer, who once said that the rumors about his death were greatly exaggerated. And so it is with respect to our economy,” Putin said. According to him, as of March 13, inflation is 7.6%, and by the end of the month, in early April, “it will already reach the target indicators.”

The harvest in Russia in 2022 is also significantly higher than in Europe, the President recalled. “It got to the point where the leaders [западных стран] offer their citizens to switch to turnips instead of lettuce and tomato. Turnips are a good product, but you will probably have to go to us for turnips too. Nevertheless, our harvest level significantly exceeds those of our neighbors in Europe,” he said.

Domestic demand in Russia has entered a trajectory of sustainable and long-term growth, and this is “not some random surge,” the president said. The growth rate of retail trade in April, he said, should be “not less than 5%, and in real terms.” “This is not about some random outburst. According to experts, domestic demand has entered the trajectory of sustainable, long-term growth,” Putin said. In his opinion, the basis of this growth is the stability of the Russian labor market, an increase in incomes and salaries of citizens, as well as a decrease in inflation.

Russian business should occupy the niches vacated after the departure of Western companies, the opportunities that have appeared should not be missed, the head of state noted. He compared the state of affairs in the economy with the situation on the food market in 2014, when Russia imposed food counter-sanctions against a number of countries. After that, the rapid growth of the domestic agro-industrial complex began, the president said.

“Now there are even more opportunities, prospects for business development and expansion. Russian business should not miss them. And then, not even the hour, some departed companies will want to return. The situation is, without exaggeration, unique,” ​​Putin said.

The head of state said that Russia would have to solve systemic issues with logistics, finance and technology. At the same time, “great opportunities are opening up for almost any line of activity, for any business”, for launching “promising, long-term projects in the consumer market, in the high-tech sector, in tourism, and in many other sectors of the economy,” he stressed. “The number of unresolved tasks never decreases, because as the state grows, our economy grows, their number also increases. This is a natural process,” Putin said.

According to him, a responsible business does not hide the funds received offshore, but registers companies in Russia and invests in the construction of social facilities and infrastructure, thereby making “everyone’s life better.” Therefore, the authorities will support “responsible businesses and companies that are not focused on short-term results, but on strategic development.”

“Those who are ready to fight for their own business, and for the well-being of their teams, the people who work for you, for the well-being of all Russian citizens … who invest resources in research and development, in creating their own technology platforms and brands, here these companies, of course, will have to be supported,” Putin said.

He also appreciated the role of the RSPP. Putin stressed that the union is “involved in the national agenda” and has its own views and proposals on what “needs to be done to increase the pace and sustainability of economic growth, how to support the development of the regions of our country, increase their industrial, technological, infrastructural and human potential” . “That is, they are always in demand, of course, but now, due to well-known circumstances, especially when the Russian economy is acquiring a fundamentally different quality,” Putin added.

The President instructed the Government of the Russian Federation “with the help of feedback from entrepreneurs and regions” to keep under constant control the effectiveness of investment mechanisms – in particular, industrial mortgages and cluster investment platforms. According to Putin, they are launched to solve the economic problems in the country in the medium term. “Such feedback has been established, and nothing indicates that it should fall apart. On the contrary, I think that our interaction at the business level and at the level of administration at all levels will only develop,” he stressed.

In addition, Putin instructed the government to consider the idea of ​​increasing the terms of preferential lending on industrial mortgages from 7 to 15 years.

This is the first meeting of the president with representatives of big business since the beginning of the military operation in Ukraine on February 24, 2022. It was on that day that the last meeting of the head of state with representatives of Russian business circles took place. Then the President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin made a report to the President, who noted that the new sanctions would be much tougher than all the previous ones, and would affect many sectors: the financial sector, extractive industries, and the supply of technological equipment. Previously, Putin has repeatedly spoken at the plenary meetings of the RSPP, the last time it was in December 2021, when the organization turned 30 years old.