35th meeting of the Foreign Investment Advisory Council in Russia

Yesterday, the Russian capital hosted a meeting of the Foreign Investment Advisory Council. The Prime Minister of the Russian Federation Mikhail Mishustin, in his speech at the Council meeting, spoke about a number of key indicators of the country's investment agenda.

The Prime Minister noted that there is growth in this area in many respects, compared to the same period in the dock.

“According to the Ministry of Economic Development, in eight months of this year, the gross domestic product grew by 4.7%. The economy not only returned to the pre-crisis level, but also exceeded it. Investments and housing construction, freight turnover of transport and retail trade are growing at a steady pace, ”explained Mikhail Mishustin.

The head of the Investment Development Agency of the Republic of Tatarstan, Taliya Minullina, in turn, has also already talked about the amount of investments from extra-budgetary funds in the region.

“The volume of private investment in the economy of Tatarstan in the first half of 2021 amounted to 140 billion rubles. This is 22.7% more than in the same period in 2020. This suggests that at a slow pace, but all the same, economic trends, investment projects are recovering, ”said the head of the Republican Agency.

Positive forecasts for the development of the Russian economy are also confirmed by international organizations. In particular, following the World Bank last week, the International Monetary Fund also raised the estimate of our economic growth in 2021.

In terms of quantitative indicators, the Prime Minister of the Russian Federation said that "Investments in fixed assets have increased, and by the end of the first half of the year, foreign direct investment amounted to about $ 11 billion."

The Minister of Economic Development of the Russian Federation Maxim Reshetnikov also spoke about the figures. He added that the issues of attracting foreign investment are one of the factors for restarting the investment cycle.

“If we talk about foreign investments, then, according to the results of the first quarter, their total volume is $ 11 billion, and it is very important that during the covid period not a single investment project was suspended, abandoned, that all projects are being implemented,” the federal minister said following the results meetings of the Advisory Board.

Prime Minister Mishustin also mentioned investor support instruments. In particular, about the recently launched special institution - agreements on the protection and promotion of investment.

“This allows us to guarantee investors the invariability of the conditions for doing business in our country for a long period of time. In about a year, such documents were concluded for a total investment of about 1.3 trillion rubles, ”the Russian Prime Minister summed up.