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Aleksey Repik: "Russian economy is moving from manufacturing to services"

22 Apr 2017 / 12:50

President of All-Russian public organization "Business Russia" Aleksey Repik summarized the discussions held on the forum’s sites devoted to transforming of Russian economy and financial system.

Much attention has been paid to Russian export support. “We have to call for greater focus on supporting the export of value added goods. It is necessary to support export deals in the spheres where we are not successful by now", Repik noted. "At the same time, we cannot refuse to assist agricultural producers who are just beginning to enter the world grain market".

Another potential area is the export of services. "Russia does not stand aside from the world trend of economic transformation - from economy of manufacturing to the economy of services. Therefore, we must support export of health care and education, especially the latter as we are aware of the effect it has on economy: people studying abroad do not just pay for education but also get used to the goods, spend money for living and show brand loyalty".

Russian exporters suffer from considerable difficulties in obtaining state support, Aleksey Repik noted: "Although lots of benefits and support measures have been taken we often notice that exporters cannot use the state support. They have to be included in the government decree and refer to a limited range of industries. I'm afraid, the supporting schemes cannot be used by the producers of goods and services in full".

The participants of the KEF drew attention to the need for wider project finance practice. "Investors are too conservative when it comes to launching new projects. The reason for that is our inclination to criticize each other for mistakes and refuse the possibility of business failure. When launching a project, we must set everything we have on stake. It is important to learn how to correlate the risks of a project and the possibility to limit these risks by the project. The participants proposed to create a "project financing factory" aimed at simplifying state procedures and increasing efficiency of support schemes", concluded Aleksey Repik.

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