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“Entrepreneurs for the State are not just “purses”, but minor partners”: the relations between business and government were discussed at SPIEF

Date: June 22, 2024 Time: 15:36:12

Photo by the Roscongress Foundation

How to increase the flow of private investment in the economy? How to increase trust between business and government? Is there this trust right now? To what extent are Russian regions ready for large-scale capital investment today? These and other topics were discussed in the session “Trust between companies and the State: investments in new realities”, which was held outside the SPIEF.

Session participants noted that state support for investors and businesses is no different from the support of an ordinary citizen who comes to the MFC. State support must be understandable and convenient for business. Getting loans is still the biggest problem for entrepreneurs now.

According to the head of the Ministry of Economic Development, Maxim Reshetnikov, growth in excess of investment is now observed mainly in industries oriented to domestic demand. These include manufacturing and tourism. As Maxim Reshetnikov pointed out, there is a resource for the growth of private investment.

– More than 70 trillion rubles are now placed in the accounts of legal entities in banks, – said the head of the Ministry of Economic Development.

Maxim Topilin, Chairman of the State Duma Committee for Economic Policy, stressed the importance of business confidence in the government.

– There are a large number of examples where investment and tax deductions for companies are hampered at the level of the ministries when implemented in the regions. We need feedback from the governors to minimize such situations, – said Maxim Topilin.

VEB.RF Chairman Igor Shuvalov noted that, despite external restrictions, the Russian economy has not abandoned the principles of a market economy.

– We do not hear from anyone that our economy has become non-market. Even despite the difficulties, all the decisions of the Central Bank were adequate, – said Igor Shuvalov.

In his opinion, there is trust between companies and the government.

“But today it must be based on responsibility and understanding of the vector of further development,” Shuvalov said.

According to him, Russia’s macroeconomy has survived and the authorities confirm that it will not change.

– We hear calls to build a kind of mobilization of macroeconomics, but nothing happens, we are working steadily, – said Shuvalov.

RSPP Chairman Alexander Shokhin admitted that the business is positive about all measures taken by the authorities to support entrepreneurship.

“Thanks to the state support and the high adaptability of the business, we got through the pandemic and the crisis better than expected,” said Alexander Shokhin.

According to him, the May surveys conducted by the Russian Union of Industrialists and Entrepreneurs indicate that investment activity remains at a high level.

“In addition, several investment projects, literally 60 percent, are being implemented without any changes, despite a sharp change in business conditions due to sanctions, logistical problems and a change in suppliers,” Shokhin said. – I would like the authorities to also maintain stability in terms of regulation and fiscal measures. We see that the business is ready to continue projects without shifting their implementation to the right and, consequently, the stability of the regulatory and tax environment is of fundamental importance.

This is no less important than supporting measures.

As for support measures, according to Shokhin, the range of them is now so wide that it is necessary to select the most suitable ones for a particular industry. At the same time, not all businessmen understand in what combination state support measures can be used, moreover, officials themselves often give different interpretations.

– Therefore, now one of the problems is how to optimize all this. We need digital platforms that provide access to all support measures, lightweight technologies and interfaces that provide transitions from one platform to another, their full compatibility, – said Alexander Shokhin.

At the same time, he pointed out that it is very important that support measures preserve the principle of competition: access to resources on transparent principles.

– Let’s take even such a popular mechanism as compensation contracts, which are used by the regions. On the one hand, it is a guaranteed demand for investment. On the other hand, the more compensation contracts, the fewer opportunities for growing startups to take part in the market. Therefore, it is a great responsibility of both regional and federal authorities to maintain a balance between support measures and normal competition, which in modern conditions should remain one of the engines of economic growth, Shokhin said.

According to him, there is trust between companies and the State.

– If a few years ago the predominant answer to the question to businessmen was “how does the State perceive you?” was the answer “purse”, then in recent years an association formula has emerged. Entrepreneurs began to respond that the state perceives them “as a junior partner,” Shokhin noted.

In turn, Maxim Reshetnikov noted that the set of support measures for the regions should remain different.

– All regions have their own characteristics. We must support diversity, but the projects are different, the details are different. But a certain minimum must be guaranteed everywhere: both in the disclosure of information, and in problems of connection to networks, etc., Maxim Reshetnikov noted.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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