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‘Rebooting’ Regional Development Tools
14 February 2019
16:15—17:30
KEY CONCLUSIONS
Business support mechanisms should be clear and accessible

Diversity <…> of support tools for investors, benefits that we have formed over the last years resulted in confusion among investors and authorities — Vadim Zhivulin, Deputy Minister of Economic Development of the Russian Federation.

There is a need for further evolution of developing our own experience in forming an investment climate, in supporting business, in <…> being able to support business with simple, accessible and clear decisions, mechanisms and methods — Anatoly Artamonov, Governor of Kaluga Region.

Stable rules and the government’s responsibility for the decisions made are the foundation for a friendly investment climate

Frequently investors are not that worried about property exemptions or special taxation schemes <…> They believe the cornerstone is unchanged rules they used to enter a special regime, personal involvement of the region’s leader, and readiness <…> to honestly resolve the arising issues — Vadim Zhivulin, Deputy Minister of Economic Development of the Russian Federation.

The main thing here is not even tax reliefs, it is the guarantees that the legislation remains unchanged for 10 years and that the government will not interfere — Ekaterina Evdokimova, Managing Partner, GDP Quadrat.

Political storms should not be in the way of [implementing] such large-scale <…> and absolutely mutually beneficial projects <…> Personal guarantees and responsibility are important for both sides <…> A big interdependence <…> may become a buffer in political situations — Sergey Kravchenko, President, Boeing Russia/CIS .

Russia is comfortable for international companies

How are Italians doing in Russia? Fine <…> Today Russia has about 100 Italian manufacturing companies, with 70 thousand jobs <…> and EUR 7.5 billion <…> in annual turnover. And despite the crisis, turbulence <…> and sanctions, all those companies always get to the positive year-end — Vittorio Torrembini, Vice President, Association of Italian Entrepreneurs in Russia (GIM Unimpresa).

ISSUES
Support tools for investors need to be more efficient

A study of preferential regimes <…> [shows] that in comparison with our colleagues from China, Japan, Korea <…> Malaysia <…> our tools <…> are not so good. That is why we make further efforts to attract investors <…> If we want to complete the President’s instructions, we need to come up with extraordinary things: ordinary tools <…> will not get us there — Sergey Tyrtsev, First Deputy Minister of the Russian Federation for the Far East Development.

Deficit of information on support measures

The problem is that business does not know about all these tools or does not know well enough — Aleksey Ivanchenko, Deputy Chairman, State Development Corporation "VEB.RF".

According to OPORA RUSSIA’s survey, 80% of small and medium businesses are unaware of support measures — Alexey Nazarov, Partner, Head of Strategy and Operation, KPMG in Russia.

Tight credit terms

The smaller the competition at the <…> financial market, the tighter the credit terms are, especially for construction companies, as well as small and medium businesses <…> This is a fact-based condition business finds itself in, which will hinder economic development — Anatoly Artamonov, Governor of Kaluga Region.

Support measures have a delayed effect for the economy

The first notable effect for the economy will appear 5 years after the grace period is over for the first residents — Mikhail Vedernikov, Governor of Pskov Region.

SOLUTIONS
Unified and flexible support measures

We need to pick up and codify the best experience available and then turn it into a new special preferential regime. Its point is to provide a special set of support measures depending on the region, the project, the investors that are ready to enter the region and the investment volume. This will help find a more flexible approach to create special tools, the region will get an opportunity to select a set of tools for specific project parameters instead of using a fixed set of preferences. At the same time, the conditions the investor used to enter the region should stay unchanged — Vadim Zhivulin, Deputy Minister of Economic Development of the Russian Federation.

The bill [on creating a common preferential regime – ed.] is right. It is a stabilizing factor that helps unify support measures and the wording, which is important for investors — Mikhail Pryadilnikov, Deputy Head, Analytical Centre for the Government of the Russian Federation.

Such an enormous territory with such diverse resources, competences and opportunities needs a unification with a certain degree of flexibility — Alexey Nazarov, Partner, Head of Strategy and Operation, KPMG in Russia.

Selecting priority development areas and tools based on the region’s special features

When selecting development tools, we need to think about the region’s special features — Artem Avetisyan, Director of the New Business Department, Agency for Strategic Initiatives; Chairman, Leaders’ Club for the Promotion of Business Initiatives Non-Profit Partnership..

We need to give regions an opportunity for freedom. Every territory has its special features in attracting people, logistics and other areas — Sergey Zhigarev, State Duma Committee on Economic Policy, Industry, Innovative Development, and Entrepreneurship .

Our path is to focus on specific areas of expertise, and we believe that we have all the opportunities to focus on cooperating with Rostec and Rosatom in the advanced special economic zone that has plenty of high-tech manufacturing facilities. They will be our two anchor investors, and we will try to get high-tech residents through them. We are ready to start right now — Alexander Gusev, Governor of Voronezh Region.

Supporting small and medium business

How did small and medium business develop in our country? We had large factories that used to do everything on their own, within the factory, and then they started outsourcing what they produced. It is a policy that needs to be created — Vittorio Torrembini, Vice President, Association of Italian Entrepreneurs in Russia (GIM Unimpresa).

We have established an agency for supporting business. At first, they assisted agricultural manufacturers – small businesses that operate in this industry. And then we have spread [it] all over small and medium business — Anatoly Artamonov, Governor of Kaluga Region.

The material was prepared by the Russian news agency TASS