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Instructions following meeting on measures to boost investment activity

April 9, 2021

Vladimir Putin approved a list of instructions following the meeting with representatives of business circles on measures to boost investment activity, held on March 11, 2021.

The Government of the Russian Federation was instructed to partially reimburse regional budgets for revenue shortfalls due to the granting of investment corporate tax deductions.

The Government was instructed to draft, in cooperation with leading public associations of entrepreneurs, a range of additional measures to encourage organisations to more actively finance investment projects on Russian territory from their own profits.

The Government was also instructed to compile, in cooperation with the Russian Direct Investment Fund, a list of infrastructure projects that will be financed from the National Welfare Fund.

Moreover, the Government was instructed to study, in cooperation with oil companies, the issue of additional measures to support projects linked with the production of highly viscous and super-viscous oil, the development of hard-to-extract oil deposits and oil production from highly watered wells.

The Government, together with the Russian Union of Industrialists and Entrepreneurs and Delovaya Rossiya national public organisations, was instructed to discuss the issue of streamlining mechanisms for the implementation of agreements on the protection and promotion of investment.

A number of instructions were also given to the Government, the Russian Union of Industrialists and Entrepreneurs, the Rosatom State Atomic Energy Corporation, the Central Bank of the Russian Federation and the State Development Corporation VEB.RF.

The Government, together with the Russian Direct Investment Fund, was instructed to study the possibility of financing transport, energy and other infrastructure projects, being implemented under agreements on the protection and promotion of investment, through the issue of infrastructure bonds.

The Federal Taxation Service was instructed to monitor the investment activity of major national corporate groups.

April 9, 2021