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Ministry of economic development of the Russian Federation

Reshetnikov: FIAC decisions improve the overall business climate in the country

18.10.2021

Total foreign investment in the Russian economy in the first half of 2021 was USD 11 billion. This was announced by Maxim Reshetnikov, head of the Ministry of Economic Development, during the 35th meeting of the Foreign Investment Advisory Council in Russia. A meeting attended by Prime Minister of Russia Mikhail Mishustin, deputy prime ministers, heads of departments and representatives of 18 major foreign companies was held today in Moscow.

According to Reshetnikov, foreign investment is one of the key factors in Russia's economic growth and in meeting the 3% growth target set by the President of the Russian Federation. He said that no investment project had been suspended and abandoned during the COVID-19 pandemic. All projects by foreign companies are implemented and usually on schedule.

He noted that the nature of the dialogue between Russia and foreign companies has changed qualitatively. "As recently as 7-10 years ago, we were bringing issues of tax policy and how to work in Russia to FIAC. Now the agenda related to the registration of property rights, implementation of green financing, ensuring the energy transition, and issues of fine-tuning the customs and tariff policy in terms of importing components and exporting finished products from Russia is brought to the forefront," Maxim Reshetnikov said.

"All decisions are made in interaction with foreign companies, they generally improve our country's investment climate, making it more understandable and transparent. And by doing so, we are moving forward," he said.

Source: Ministry of Economic Development of the Russian Federation



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