SPIEF-2024: VLADIMIR PUTIN RECOGNIZES MORDOVIA AS A LEADER IN INVESTMENT CLIMATE IMPROVEMENT RANKING
On June 7, the Head of Mordovia, Artem Zdunov, participated in the plenary session of the XXVII St. Petersburg International Economic Forum. This year, the forum is held under the motto “The Foundation of a Multipolar World – Creating New Growth Points”.
At the plenary session, President of Russia Vladimir Putin delivered a speech. The Head of state elaborated on the structural changes in the economy that have been initiated in the country.
“Russia remains one of the key players in global trade and is actively developing logistics and expanding its cooperation geography. Our relations with Asian countries have strengthened, with a 60 percent increase from 2020 to 2023, and our trade with the Middle East has doubled. Additionally, trade with Africa has grown by 69 percent, and with Latin America by 42 percent,” Vladimir Putin said. “As for last year, Russia's GDP growth was 3.6 percent, and in the first quarter of this year, it was 5.4 percent. This means our growth rates exceed the global average. Importantly, this dynamic is primarily driven by non-resource sectors. We aim to be among the top four largest economies in the world. Incidentally, according to some data, including the World Bank's estimates, just last week the World Bank conducted additional calculations and ranked Russia in fourth place. We are ahead of Japan.”
The launch of the regional investment standard has enabled many federal subjects to make significant progress in the National Investment Climate Ranking. The results were presented at the forum.
One of the most important structural changes that the authorities are striving for is the new quality of the labor market.
At the same time, the head of state noted that the country's economy needs not only young professionals but also experienced, knowledgeable specialists who are competent in their field and can teach their colleagues, becoming true mentors for them. In this regard, it is important to support the desire of people who have reached retirement age to continue working and contributing. Starting from 2025, as the President pointed out, pensions for working pensioners will be indexed again.
The Head of state also announced other socially significant decisions in his speech. In particular, the President instructed the Russian government to launch additional programs for preferential family mortgages starting from July 1st. “Favorable mortgage terms will apply in all regions of Russia, for every family that wants to build their own home. This is especially important for large families with many children,” Vladimir Putin said.
Another decision concerns the indexation of the minimum wage.
Summing up his speech, the Head of state emphasized that the global economy has entered an era of significant, fundamental changes. A multipolar world is emerging with new growth centers, investment, and financial ties between states and companies. The Russian economy is responding to these challenges and is also changing dynamically, gaining greater strength and stability.
Source: Press Service of the Head of the Republic of Mordovia.
Photo: kremlin.ru