Agenda: key provisions of the new strategy for the VEB.RF Group until 2030.
Mikhail Mishustin’s opening remarks:
Mikhail Mishustin chairs a strategic session on VEB.RF development
Mikhail Mishustin chairs a strategic session on VEB.RF development
Mikhail Mishustin chairs a strategic session on VEB.RF development
Colleagues, good afternoon.
We are continuing the series of strategic sessions of the Government.
The priority of our work is the achievement of Russia’s national goals, as defined by the President. To fulfil these objectives, we must rely on a robust financial system capable of raising resources for projects demanded by our citizens.
Development institutions play a pivotal role in this regard. Globally, such institutions are leveraged to create conditions conducive to increasing private investment in sectors of critical national importance.
Development banks at various levels account for approximately 10 percent of global investments. Their resources support areas typically underserved by commercial lenders, such as the construction of backbone infrastructure, stimulation of high-tech production, and the resolution of social and environmental challenges vital to improving the quality of life.
In essence, these institutions provide the economy with so-called long-term money, making diverse support mechanisms accessible to businesses.
In Russia, the primary development institution is the VEB.RF Group. Alongside the corporation itself, it encompasses organisations that support export, small and medium-sized enterprises, and innovation. It consolidates nearly the full spectrum of functions characteristic of such entities worldwide.
Through guarantees provided by VEB.RF, the Government successfully implemented measures to support specific sectors during the pandemic and the acute phase of sanctions pressure, as instructed by the President.
Now, we must focus on long-term economic transformation. In partnership with businesses, utilising state support mechanisms and public-private partnerships, we aim to implement large-scale investment projects – particularly in high-tech industries, infrastructure, and the social sector.
In this work, we must consider not only the volume of attracted investments and projected economic outcomes. Equally critical is incorporating feedback from citizens, as consistently emphasised by the head of state.
It is essential that people directly observe the results of implemented initiatives and tangible improvements in their lives. For every family, it matters whether their children attend modern schools, whether efficient public transport and new roads are available, the condition of airport terminals, access to high-speed internet and clean water, and the reliability of energy supply and utilities.
VEB.RF is actively engaged in all these areas, collaborating with major industrial holdings and commercial banks.
Today, alongside business representatives, we will discuss the core tenets of the VEB.RF Group’s new strategy, which extends until 2030. Its implementation must be fundamentally oriented towards addressing the nation’s development priorities, as set by the President.
