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Instructions following the 28th St Petersburg International Economic Forum, held on 18–21, 2025

August 14, 2025

The President approved a list of instructions following the 28th St Petersburg International Economic Forum, which took place on June 18–21, 2025.

The President instructed the Government of the Russian Federation to draft and approve a restructuring plan for the Russian economy along the following tracks: restructuring employment patterns, changing consumption patterns, improving the investment climate, enhancing the technology development level for the national economy, transforming the structure of foreign trade and elevating it to a new level, and increasing efficiency of the defence and security sectors.

Another instruction deals with compiling a list of indicators and defining targets for each of the tracks dealing with the effort to restructure the national economy.

In particular, fulfilling these instructions implies paying special attention to the need to have more economic activity at the grassroots level, including among young people and pre-retirees. This effort also calls for increasing wages by achieving higher labour efficiency and improving the quality of work, expanding employment in high-technology sectors of the economy, promoting labour mobility, fighting poverty and income inequality, creating incentives for consuming goods and services made in Russia, cutting business costs, ensuring that investment gains momentum, fast-tracking the introduction of new technology solutions while prioritising homegrown solutions, and creating conditions for Russia to achieve technological leadership in priority economic development sectors.

There must also be an emphasis on restructuring the imports of goods and services for increasing the share of labour-intensive goods and services in the overall imports, along with technology solutions that have no equivalents in Russia. This instruction provides for developing funding mechanisms for national export projects designed to enable Russia to gain a foothold of foreign markets and consolidate its positions by upgrading the Eurasian Economic Union’s customs and tariff policies, building new manufacturing chains and introducing advanced technological solutions.

In addition, whenever the Defence Ministry of Russia is involved in carrying out these instructions, special attention must be paid to radically reducing the time it takes to identify promising technological solutions and introduce them in the security and defence domains, including being able to launch effecting products into serial production quickly. This also deals with promoting the best manufacturing practices considering their hands-on application, and ensuring that promising technological solutions, once introduced, improve economic performance.

The Government of the Russian Federation also received instructions to work with the leading business associations and the Eurasian Economic Union’s Business Council on drafting proposals to put the Eurasian Economic Commission on track to upgrading its customs and tariff policies to build new manufacturing chains and create incentives for introducing cutting-edge technological solutions in the EAEU countries. These instructions provide for shaping a new national trade model by upgrading regulations governing retail chains as part of a platform-based economy, offering preferential loans when undertaking investment projects to build tourist infrastructure and granting loans at a reduced interest rate when carrying out these projects at the cultural heritage sites of the peoples of the Russian Federation.

Moreover, instructions for the Government of the Russian Federation include amending laws to establish a statute of limitations for privatisation transactions with the view to defending the property rights of buyers who acquired property of this kind in good faith. This includes devising a long-term strategy for developing the creative economy and a mechanism for carrying it out, as well as building a national digital transport and logistics platform.

The Government of the Russian Federation also received instructions to prepare an annual performance report on national technological development, national projects aimed at ensuring technological leadership, as well as assessing the current state of technological sovereignty. The report must also cover breakthrough solutions for achieving technological leadership and efforts to introduce promising domestic technological solutions.

The President instructed the Government of the Russian Federation to work with the Presidential Executive Office and VEB.RF State Corporation, together with Rossiya National Centre, on drafting proposals to promote international cooperation initiated in 2025 as part of the open dialogue titled The Future of the World. New Platform for Global Growth, as well as to hold the Open Dialogue forum in 2026.

The Government of the Russian Federation received several instructions to work with the Federal Corporation for the Development of Small and Medium-Sized Businesses, and also with DOM.RF and the business community in this sector.

Together with the Agency for Strategic Initiatives and RUSNANO, the Government of the Russian Federation was instructed to explore opportunities for creating a mechanism to support projects dealing with extracting precious components, including rare and rare-earth metals from byproducts of minerals extraction and manufacturing operations.

The Government of the Russian Federation must also work with the Agency for Strategic Initiatives, as well as regional executive bodies and the business community to approve a national model for articulating targets and objectives for the business community in an effort to achieve the goal of propelling Russia into the world’s top 20 leading countries by 2030 as per a leading global study on doing business.

The President instructed the Presidential Executive Office to establish an inter-agency working group to improve performance when undertaking preservation initiatives dealing with the cultural heritage (monuments and cultural sites) of the peoples of Russia which are in an unsatisfactory state.

The President instructed the Bank of Russia to work with the Government of the Russian Federation to ensure a transition for introducing the digital ruble into wider use, including by individuals and legal entities, as well as in the budget-related processes.

The Inter-Agency Working Group for Developing Digital Economy Ecosystems and Digital Platforms, together with the actors involved in this sector, were instructed to examine the way digital platforms operate, including in terms of identifying fraudulent business practices, anti-trust violations or data-sharing requirements.

The President instructed the Special Working Group for Coordinating Development Institutions within the Presidential Council for Strategic Development and National Projects to examine the performance of development institutions in their efforts to promote technological development, and submit proposals on coordinating their activities in order to avoid overlap and introduce a single set of requirements for business support measures.

August 14, 2025