Putin instructs government to assess effectiveness of investment support measures

Putin instructs government to assess effectiveness of investment support measures The head of state stressed that the Russian economy needs to achieve sustainable growth in capital investment, including investment in modernizing production and improving labor productivity through new technologiesMOSCOW, August 19. /TASS/. Russian President Vladimir Putin instructed the government at a meeting on strategic development and national projects to analyze the effectiveness of investment support measures and the extent to which they are used by businesses. "We already have a range of investment support measures in place, including tax incentives, administrative mechanisms, loan subsidies, and so on. I believe it would be appropriate for the government to once again assess the effectiveness of these measures, analyze demand for them among businesses at both the federal and regional levels, and then, together with the Central Bank and business associations, submit proposals on how to fine-tune the investment support system," the head of state said. He stressed that the Russian economy needs to achieve sustainable growth in capital investment, including investment in modernizing production and improving labor productivity through new technologies, using autonomous systems and industrial robots, digital platforms, and artificial intelligence solutions. According to the president, "this is particularly important given labor shortages in certain industries." "When fine-tuning the investment support system, it is essential to place particular emphasis on encouraging innovation. We have returned to this issue many times, but without it, we will not be able to achieve the necessary pace of economic growth and structural transformation," the head of state noted. 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