Restrictions on Russia open up new opportunities for domestic capital investment - Mishustin
MOSCOW. March 1 (Interfax) - The introduction of sanctions opens up new possibilities, and auspicious conditions need to be created within the country for entrepreneurs, including by removing superfluous administrative barriers, Russian Prime Minister Mikhail Mishustin said.
"The restrictions that have been imposed on our country also open up new opportunities for domestic capital investments. We need to create conditions as auspicious as possible for entrepreneurs - take away superfluous administrative barriers, which we have been doing recently, and develop a mechanism of support for investment projects that have already been launched," Mishustin said at a meeting on increasing the development sustainability of the Russian economy.
The government is planning to work through these issues, easing government procurement procedures as much as possible and cutting excess requirements, with the business community, Mishustin said. "The Finance Ministry is also preparing a proposal on capital amnesty. Such steps allow for substantial funds to be directed toward implementing new projects in the territory of our country, and import substitution should be the main area of focus of our activities. And businesses that do projects in this sphere should receive additional measures of support," he said.
Change in the structure of the economy needs to be promoted as much as possible by increasing technological production in order to leave commodity dependence even further behind, Mishustin said.