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Instructions on additional measures to stimulate economic growth

May 14, 2014

Vladimir Putin signed a list of instructions on additional measures to stimulate economic growth.

In particular, instructions to the Government of the Russian Federation concern simplifying procedures for selecting investment projects and procedures for providing state guarantees during their implementation; providing tax benefits to newly created industrial enterprises; increasing the volume of road construction and reconstruction; stimulating the renovation of industrial equipment; substituting competitive imports in industry and agriculture; and implementing the best available technologies.

The Government is also instructed to develop criteria in accordance with which organisations of strategic importance to the Russian economy and their subsidiaries are required to remain under the jurisdiction of the Russian Federation, and to determine conditions for transferring such organisations which are currently under the jurisdiction of foreign states to Russian jurisdiction.

In addition, the Government is instructed to adopt a decision on creating a fund for industrial development with the aim of increasing access to loans and financing projects in accordance with priorities set by the Government of Russia.

Individual instructions have been issued to the Government jointly with the Central Bank.

May 14, 2014