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Instructions following the 26th St Petersburg International Economic Forum

August 16, 2023

The President approved a list of instructions following the 26th St Petersburg International Economic Forum, held on June 14–17, 2023.

The instructions given to the Government of the Russian Federation concern, in particular, the payment of monthly childcare benefits and benefits for children under 18 with disabilities. Further instructions have to do with the implementation of the Tourism and Hospitality Industry national project, including funding a grant programme to support projects to erect modular temporary accommodation facilities as well as providing preferential loans for the construction of year-round amusement parks, water parks and mountain ski resorts.

The Government and Sberbank of Russia have been instructed to ensure, with federal budget funding, the development of at least ten educational facilities in Russian regions with high unemployment rates to train technical specialists.

The instructions to the Government also concern compiling national rankings for educational institutions based on the rate of graduate employment, employer demand and entry-level salary.

Further instructions to the Government concern supporting the marketing of Russian goods and promoting them on online trading platforms, including foreign ones; and promoting domestic online trading platforms in foreign markets.

The Government, with the involvement of the Russian Union of Industrialists and Entrepreneurs and regional executive bodies, was instructed to work out a five-year forecast of national industries’ demand for professionals with various tiers of education, and ensure the document’s annual updating.

Instructions for the Government and the Federal Corporation for the Development of Small and Medium Businesses are related to SME lending.

Instructions for the Government also concern improving the mechanism of state support through a social contract as part of measures to support sole entrepreneurs and private subsidiary farmers, as well as offering opportunities to take free entrepreneurship courses to individuals planning to conclude social contracts.

Instructions for the Government and the State Council Commission on Investment and leading public associations of entrepreneurs have to do with the conditions for applying the investment tax deduction arising from agreements on investment projects aimed at strengthening Russia’s technological sovereignty.

The Government of the Russian Federation and the Bank of Russia have been instructed to make decisions on an amnesty and rule out imposing any penalty on residents who failed to comply with currency controls during the period of the moratorium on liability for failure to comply with these controls, if said non-compliance was due to the restrictive measures against Russian citizens or legal entities applied by foreign states (territories), supranational associations and/or unions and/or state (interstate) institutions of foreign states or associations and/or unions committing unfriendly actions against the Russian Federation.

A number of instructions were given to the Government of the Russian Federation jointly with the State Duma, the Supreme Court, the Prosecutor General’s Office, the Investigative Committee, the Interior Ministry, the Agency for Strategic Initiatives to Promote New Projects, the Bank of Russia and the VEB.RF State Development Corporation.

The Government of the Russian Federation, with the involvement of leading public associations of entrepreneurs, has been instructed to expedite the transfer of business assets, primarily in key economic sectors and industries, to Russian jurisdiction, including through the possibility of registering foreign companies in special administrative regions in cases where their re-domiciliation is blocked or not allowed by the laws of the foreign jurisdiction where the business is currently registered.

The Government of the Russian Federation, with the involvement of leading public associations of entrepreneurs, has also been instructed to ensure the launch of a mechanism that allows Russian persons to redeem control over domestic companies in cases where such control has been transferred to foreign legal entities and, in fact, lost as a result of foreign states taking unfriendly actions against the Russian Federation, Russian citizens or companies, including through replacing the shares of holding companies registered in foreign jurisdictions owned by Russian persons with shares of Russian businesses that are part of such holding companies.

The Roscongress Foundation has been tasked with reviewing and summarising the final materials of the 26th St Petersburg International Economic Forum.

August 16, 2023