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The President has approved a list of instructions issued following the St Petersburg International Economic Forum, which took place on June 1–3, 2017.
For the purpose of building investment and technology partnerships to attract long-term non-government investment into hi-tech projects, the Government has been instructed with amending Russian law with the concept of special investment contracts. It is also necessary to legislate the extension of maximum terms of such contracts and expand the range of their parties; to expand tools that guarantee demand for products manufactured under special investment contracts; provide tax exemptions on the profits of investors participating in special investment contracts, throughout their term.
The Government together with state corporations Rostec, Roscosmos, Rosatom, United Aircraft Corporation, and United Shipbuilding Corporation have been instructed to set up designated divisions and venture capital funds in the said organisations, for the purposes of investment in small innovative companies.
The Government has also been instructed to:
complete and present to the Council for Strategic Development and Priority Projects for consideration the Digital Economy programme, including funding sources, scope and procedures;
present proposals on developing instruments for private-public partnership to implement a comprehensive approach to building and renovating infrastructure with private investment;
create an international youth section at the St Petersburg International Economic Forum;
in cooperation with the Bank of Russia, amend Russian legislation to include regulations of syndicated lending;
in cooperation with the Bank of Russia and Vnesheconombank, finalise the approval of and carry out the action plan (roadmap) for developing a ‘project financing factory’.
June 14, 2017