PAO TMK : Dmitry Pumpyanskiy explains prospects for stepping up business investments to the President of Russia

18.12.2021 Dmitry Pumpyanskiy explains prospects for stepping up business investments to the President of Russia

Dmitry Pumpyanskiy, Chairman of TMK's Board of Directors, President of Sinara Group, and member of the Bureau of the Board of the Russian Union of Industrialists and Entrepreneurs (RSPP), spoke at the RSPP Congress in the Kremlin, presenting measures to step up investments by industrial companies to Russia's President Vladimir Putin.

At the meeting, Dmitriy Pumpyanskiy, who also co-chairs the RSPP's Committee on Industrial Policy and Technical Regulation, said that Russian businesses are growing capital investments despite the pandemic impacts, and outlined several factors that drive investment activity.

"Firstly, it is about a stable environment. Business shows a fundamental need for predictable government decisions, primarily in the fiscal and regulatory areas. Russia already has effective instruments that provide for stabilization clauses, first of all SPIC 2.0, a special investment contract. Without such enablers, many high-tech projects the country really needs would not be feasible," said Dmitry Pumpyanskiy.

He noted that the Russian Ministry of Economic Development is setting up a working group to improve SZPK mechanisms with a view to submitting amendments to the State Duma. Dmitry Pumpyanskiy also put forward a range of proposals to encourage investment activity, such as a transition period to adapt to new health protocols and regulations issued by the Federal Service for the Supervision of Natural Resources.

"To avoid negative impacts on businesses and communities, we think it is appropriate to set up an interdepartmental working group, which would include the Federal Service for the Surveillance of Consumer Rights Protection and Human Wellbeing, Ministry of Industry and Trade, Ministry of Natural Resources and Environment and RSPP, for the transition period through 2027 to refine the use of the recently introduced annual average maximum permissible concentrations, evaluate certain standards, analyze their feasibility given the current maturity levels of production and monitoring technologies, and further improve the regulatory framework," he said.

He also touched upon the procedure for running mandatory expert reviews for industrial construction projects. RSPP believes that a one-stop-shop expert review procedure would require amendments to a number of federal laws - the Urban Development Code, Federal Law on Environmental Expert Review, and Federal Law on Objects of Cultural Heritage. Dmitry Pumpyanskiy asked the President of Russia to endorse this approach so that the RSPP could prepare relevant amendments and submit them to the State Duma for consideration at its spring session.

These proposals were supported by the Congress.