Russian Companies From 'Belousov List' To Implement Some Proposed Projects - RUIE Head

MOSCOW (UrduPoint News / Sputnik - 21st September, 2018) Companies from the "Belousov list" will implement only part of the projects proposed by Russian agencies, the head of the Russian Union of Industrialists and Entrepreneurs (RUIE), Alexander Shokhin, told reporters after a meeting of the working group with First Deputy Prime Minister Anton Siluanov and presidential aide Andrey Belousov on Thursday.

Belousov, in a letter to President Vladimir Putin, proposed in July that Putin order to increase budget revenues from the mining and chemical sectors' excess profits because they pay lower taxes than oil and gas companies. After a meeting with businesses in August, Belousov announced an agreement to jointly decide how, without harming the companies' activities, to prompt their investment in projects in line with Putin's May decree.

"We agreed that all projects of ministries and departments will undergo a road show procedure, that is, they must be pre-packaged, shown to business: both the government and the relevant departments should show financial instruments, the financial model, payback periods to interest the business,"� Shokhin said.

"On the other hand, the business offered a wide range of its own projects that correspond to the priorities of the May decree. We agreed that these projects will be supported by the government, including through the draft law on protection and promotion of investments," he said.