The agenda includes key aspects of collaboration between businesses and the state, as well as the business community’s initiatives aimed at achieving national development goals and implementing national projects.
The congress brings together about 1,300 participants, including leading entrepreneurs, representatives of small and medium-sized businesses from across the country, heads of ministries and agencies, and key political figures for Russia’s economy.
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President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin: Mr President,
Thank you for finding time in your busy schedule to talk with the delegates and guests of the 34th annual congress of the Russian Union of Industrialists and Entrepreneurs.
We know that today you have a very important telephone conversation to make, on which a lot depends not only with regard to developing Russian-American relations, but also settling the conflict in Ukraine and resolving many other geopolitical issues.
Before you came, we discussed a fairly wide range of issues, above all how to walk the thin line between the controlled contraction of the Russian economy in order to suppress inflation and preventing the overcooling of the Russian economy. In this regard, many of my colleagues spoke about the criteria for selecting investment projects that cannot be abandoned.
These are projects that are at an advanced stage of implementation, or aimed at national projects, including national technological leadership projects, or those where there is a maximum multiplier and for every invested ruble you can get a 5.7 ruble return.
We would like these additional criteria formulated right now to be used in our dialogue with the Government, and there will be no need to handpickg projects. Though thanks in part to our meetings with you we have created or renewed platforms, such as the sub-commission of the Government Commission on the Stability of the Russian Economy that resumed work in January, and the situation in certain industries is discussed there several times a month jointly with businesses. We have also established a working group with the Central Bank, where we discuss situations in industries and individual borrowers in order to prevent chains of non-payments and pre-bankruptcy conditions among other things. That is, the work is underway, although we understand that much depends not only on specific decisions, but also on systemic measures.
Personnel shortage is the second big issue. Many of my colleagues, both from the Government and businesses, spoke about this. On the one hand, we can see that there are possibilities for an expansion of the worktime fund by lifting a number of restrictions on part-time work at the main place of employment and by streamlining migration flows. In particular, it would probably be right to place additional emphasis on the rotational method of recruiting migrants from non-visa-free countries through the mechanism of organised recruitment. We know that the Government is drafting a corresponding law, and we are ready to add companies’ experience to the process.
But obviously the key is still labour productivity growth, including such well-known methods as lean production, and such ways as production automation and robotics. Apparently, we cannot do without investments here. And here we also need to find a way to keep this topic in focus, even with limited budgetary resources, especially since we have additional requirements of technological leadership as well.
An important topic that we have discussed in the context of personnel policy is the system of vocational education, both secondary vocational education and higher vocational education. Hundreds, if not thousands, of Russian industrial partners are involved in such projects as Professionalitet and Advanced Engineering Schools.
We believe that such projects shall be expanded. The Government supports this idea. However, it is equally necessary to expand them, not just to engage new colleges or universities, but, in particular, to direct the same Professionalitet project to retraining adult population as well. This is especially important for retraining, occupational retraining and upskilling of the special military operation veterans, who are returning and who need some kind of career prospects, given that they are already, so to speak, people with a rightful claim to more than what they had before joining the special military operation.
The topics that we discussed also include those that we raised at the previous congress, and during our meetings with you last December in particular, and at the last year's congress, both in a public format and in the format of a meeting with the RUIE bureau members. I would like to remind you of some of the topics that have remained in the works, as it is called.
In particular, we mean our social partnership expansion. The Constitution has got the concept of social partnership as a major principle. A year ago we raised the issue of mandatory membership of leading companies, socially and economically significant organisations in one of the employers' associations, be it regional, sectoral, inter-sectoral, all-Russian, and so on, and you supported this idea. And also, setting up such an interconnected system of employers' associations.
A year has passed since that congress. To be honest, we have not made much progress so far, although we have prepared the relevant draft laws. And it turns out that major companies say that this is a big burden for them, including paying fees to organisations. Frankly speaking, it might possible to somehow help them.
The second issue concerns the procedure for Regulatory Impact Assessment (RIA), which does not apply to tax and fiscal legislative initiatives. When the RIA mechanism was introduced 15 years ago, we consistently advocated from the outset that fiscal amendments should undergo this assessment. However, the Ministry of Finance has always maintained that businesses oppose any tax amendments unless they are explicitly in their favour.
Nevertheless, a year ago, we found a balance of interests and reached compromises. The modifications to the tax system that came into force on January 1 this year demonstrate that businesses have not exactly welcomed but approached these changes with understanding. Moreover, they stand ready to refine certain aspects to enhance effectiveness.
We therefore believe it would be appropriate to continue moving in this direction. Even the public platforms that the State Duma is prepared to provide – such as expert forums or parliamentary hearings – could be utilised. Frequently, draft documents marked “Not For Public Use” are issued during preparatory stages, leaving insufficient time for substantive discussion prior to adoption. While the Legislative Commission exists – with many of my colleagues represented at deputy head level – I personally participate to ensure no opportunity is missed to articulate the business community’s position.
A critical matter – apologies, Mr President, I realise I may have overextended on this topic – is the protection of bona fide property acquirers’ rights, including within privatisation transactions.
You have emphasised that purchasers should not bear liability for errors committed by federal or regional authorities. Having thoroughly analysed multiple aspects of revising privatisation outcomes, we believe procedural norms could feasibly be established to systematise this process. Specifically, we propose applying statutes of limitation and preclusive time bars under the Civil Code. Privatisation transactions are commercial in nature, and the Civil Code should govern them accordingly. Furthermore, it cannot be asserted that errors committed during privatisation constitute a violation of intangible rights of citizens, in respect of which, as is commonly known, no statute of limitations exists or may apply.
I believe this issue can be resolved, particularly given the active involvement of the Presidential Council for Codificationand Enhancement of Civil Legislation.
I am confident that today’s congress outcomes and the forthcoming open discussion will advance these matters.
One final request, Mr President. Given the numerous statements today from both business and government representatives: If we formalise these proposals – including those stemming from the 19 forums of the Russian Business Week held in February – and ask you to instruct the Government to review them jointly with us, this would significantly facilitate resolving all outstanding issues within a year. We would greatly appreciate this.
Thank you.
President of Russia Vladimir Putin: Mr Shokhin, friends, colleagues,
Mr Shokhin has mentioned my schedule. Indeed, the Russian Constitution grants broad presidential powers. However, I would like to emphasise that your work remains critically important regardless of constitutional authority, because you represent vast workforces and bear responsibility for the social and economic well-being of millions of workers.
There are always many pressing issues. Mr Shokhin has just spoken about protecting the interests of bona fide purchasers and matters related to privatisation. We have discussed this extensively, and rightly so. These discussions must continue until a final resolution is reached. At the same time, Mr Shokhin noted that not all major businesses and corporations are eager to join the Russian Union of Industrialists and Entrepreneurs and suggested that perhaps they need some encouragement. Even within your community, philosophical contradictions – as scholars might say – sometimes emerge. But we will continue our work, engage in discussions, and, I hope, find solutions.
I am delighted to welcome all participants of the plenary session, which brings together leading Russian companies – true market leaders, including those on a global scale.
First and foremost, I want to thank the members of the RSPP for their commitment to the national development agenda and their active role in shaping measures that strengthen our economy and sovereignty. Their efforts contribute to making Russia’s investment and business climate more favourable and aligned with entrepreneurs’ needs. This work helps Russian enterprises and their employees to gain a clear understanding of long-term prospects, develop growth strategies and make informed decisions that benefit both individual companies and entire industries.
Hopefully, I will be able to answer some questions outlined by Mr Shokhin. If not, we will have a meeting with the RSPP Bureau. We will have an opportunity to discuss certain issues behind closed doors, as they say, and in an absolutely frank manner.
In fact, there are many challenges in this regard, including the need to upgrade the real sector’s legislative framework, remove excessive barriers, and generally improve the regulatory environment for businesses. In a word, we are talking about a complex, multifaceted cooperation that, regrettably, is not without hitches. Regretfully, some papers get stuck somewhere, there are protracted coordination procedures (as has been mentioned right now), or problems and uncertainties arise, which could not be envisaged, problems that impede the common effort.
It is quite right that you directly outline these problem areas. I am confident that your colleagues from the Government will cooperate with you in promptly addressing these issues and will interact with you in the interests of the state and the entrepreneurial community. Let me note that the Russian business community has faced significant challenges over the recent years. We are well aware of this. These include a powerful sanctions pressure, primarily restrictions on international settlements and transactions on external markets. As a whole, these and other challenges are undermining the freedom of trade and investment in the world economy. I will also say a few words about this as an aside.
Importantly, Russian entrepreneurs have learned to work under sanctions during this period. They have adapted to sanctions, inventing and launching alternative mechanisms for cooperation with foreign partners – those who want to work with us. Besides, sanctions have become an additional catalyst of sorts to positive structural changes in the Russian economy, including in finance and technology, and in many other key spheres.
I know that the business and expert communities are actively discussing the future of the illegitimate sanctions against Russia, Russian companies and citizens: whether they will be lifted, remain in force, intensify, etc. Friends and colleagues, I suggest that we proceed from the following considerations.
Indeed, these considerations lie on the surface.
Sanctions are neither temporary nor targeted measures; they constitute a mechanism of systemic, strategic pressure against our nation. Regardless of global developments or shifts in the international order, our competitors will perpetually seek to constrain Russia and diminish its economic and technological capacities.
Moreover, whereas the so-called Western elites previously attempted to cloak this confrontation in propriety, they now evidently seem to no longer feel the need to be concerned about appearances, nor do they intend to be. They not only routinely threaten Russia with new sanctions but churn out these packages incessantly. One gains the impression that even the architects themselves have lost track of the restrictions imposed and their targets.
Here, the Ministry of Finance has tallied them. I state with confidence: 28,595 sanctions against individuals and legal entities. This exceeds – by a significant margin – all sanctions ever imposed on all other nations combined.
Even if there is some gesture from their side – say, they propose to lift or ease something – we can expect that another way will be found to exert pressure, to throw a spanner in the works, as was the case with the well-known Jackson–Vanik amendment. The Soviet Union, against which it was originally introduced, no longer existed, and relations between Russia and the United States of America were at their absolute best, as good as they could possibly be. Yet the amendment continued to remain in force. And when it was seemingly repealed, it was in fact simply replaced with another restrictive instrument against Russia. Recall this: repealed, then supplanted.
I reiterate: sanctions and restrictions are the reality of the existing new stage of development that the entire world, the entire global economy, has entered. The global competitive struggle has intensified, assuming increasingly sophisticated and uncompromising forms.
Thus, literally before our eyes, a new spiral of economic rivalry is unfolding, and under these conditions, it is almost embarrassing to recall the norms and rules of the World Trade Organisation, once zealously promoted by the West. Once… When? When these rules advantaged them… As soon as they became disadvantageous, everything began to change. And all these negotiations stalled. And, in fact, no one needs them anymore.
This is evident, and I have emphasised it repeatedly: a return to pre-existing conditions is impossible. We should not anticipate fully unfettered trade, payments, or capital flows, nor rely on Western mechanisms to safeguard investor and entrepreneur rights. Yes, Alexander Shokhin referenced this, and I opened with it: we have our own systemic problems related to privatisation, to the protection of the rights of bona fide acquirers. My stance is known. Some matters are still stalled, but jointly, we will ensure that this issue is finally resolved.
What do I want to say? Our challenges exist, but theirs are also abundant. We must acknowledge that even in the past, these mechanisms faltered. I am referring to those proposed by our so-called Western partners. And now the façade, as they say, has collapsed: it has become clear to everyone what the various high courts in European capitals are worth, the Western jurisdictions that many sought out to hide themselves and quietly conceal something. That’s it. None of that exists anymore. And there are no opaque jurisdictions left.
In these conditions, it is important for Russian businesses to show flexibility, explore new markets, design their own technological solutions, and establish cooperation with reliable partners, there are many of them in the world. Of course, the Government and the regions must provide, and are providing, the required support here. For my part, I will do everything possible to support this process.
Russia is strengthening its sovereignty in all areas that would ensure the operation of businesses, such as the development of transport, logistics, and financial and payment infrastructure. We are already doing this and will definitely keep dong it.
I know and understand the challenges you are facing, but we will do everything to help you. Let me stress: only those countries that can ensure real, full sovereignty become stable in general and resistant to external pressure, and can progress dynamically in the interests of their people.
Let me give you a clear example. In fact, it is well known, but I will nevertheless use the occasion to say it again. We can see that most European countries have lost their sovereignty, and as a result they have faced serious problems both in the economy and in the security sphere. As for the economy, all of them have near-zero growth rates or are even entering a recession. On the contrary, the BRICS countries and those that wish to join the association understand the benefit of combining potentials, and in recent years they have been leaders in global growth, creating a high benchmark for economic dynamics.
Let me remind you that the GDP growth of the Eurozone was 0.9 percent in 2024, I mean of the “Big Seven” (Why is it big? It is not clear. What is big about it? Wherever you look, you can’t find any of them on the map.) that has the growth of 1.9 percent, while the BRICS has 4.9. In Russia, it was 4.1 for two years in a row – last year and the year before. (Applause.) I know, and I’ll talk about this now, of course. By the way, you applauded to yourselves; these are your results, thank you. I will applaud you. (Applause.)
We were just talking – Mr Shokhin did – about the cooling of the economy. Of course, we need to proceed with a great deal of caution in this regard. Clearly, this is unavoidable, and the Government and the Central Bank mentioned it, too. It seems a general agreement has been reached. We need to make sure that things in practice turn out as planned, and we do not let things cool down too much like in a cryotherapy chamber. Things should go smoothly and slowly. I am not going to now, the figures are known. The Central Bank has its own figures, and the Government and the Ministry of Economic Development have their own. It is not 4.1 percent, but 2 to 2.5 percent. But we need to make sure things do not collapse or freeze too much. It's a fine line to walk, but I hope we will cope with it.
We can get back to it later. However, I suggest that we do not start a discussion right now, because if we do we will be talking through the night, I know that.
Yesterday – or was it already today – Mr Oreshkin and I sat until 2 am. Or, rather 3 am. So, we really talked until the morning. I hope we will eventually go down that path, tread lightly, and get the result we need.
The so-called Western dominance slipping away, and new global growth centres taking the centre stage is a long-term trend, and I want to emphasise that. Yes, of course, we are fully aware of the advantages offered by our so-called Western partners, such as advanced technology and production process organisation. They have that, it is true. They have achieved a lot. We should respect that and use their best practices, but not copy them.
We should keep in mind that growth rates in various regions of the world will remain stable over the next several decades. And the fact that we have, to a certain extent, refocused our priorities (not through our fault, by the way) due to a number of circumstances may be a good thing. We are shifting our focus to global promising markets. All things that we need we will get one way or another.
Of course, this long-term trend will remain unchanged. It will be bolstered up by, among other things, the BRICS development platform that is currently taking shape. It will include resource, technology, personnel, finance, trade and investment components at a whole new level with the use of cutting-edge digital solutions, which will maximise the platform’s effectiveness and keep negative outside interference at bay.
I very much count on Russian businesses taking an active part in these joint projects with our BRICS partners and future BRICS members.
Colleagues, I will address another crucial issue that concerns domestic businesses and pertains to Russia’s relations with overseas states. Let me reiterate: this concerns the return – the possible return – of foreign companies that exited our market in 2022 and thereafter.
I have previously noted that Russian businesses skilfully capitalised on this opportunity, occupied vacated market niches, invested funds, created jobs, and dedicated considerable time and effort to developing technologies.
Now, certain departed companies are indeed contemplating a return – we are aware of this, though I will refrain from elaborating further to avoid interference. However, our enterprises that have assumed their positions are at various stages of the investment cycle. Some have already made capital investments and established production, while others are only commencing projects and initiating construction despite the high interest rate. Naturally, we have no right to undermine these plans or nullify the efforts and funds invested.
The interests of Russian companies, enterprises, and their employees will always remain a priority. It is from this standpoint that we will approach the question of overseas businesses returning to our market.
I would emphasise that among foreign companies which left Russia under political pressure from the so-called elites of their countries, some have retained personnel and technologies while transferring management to Russian executives. Effectively, they continued operating in our market under a different brand. We recognise that such investors took significant risks, potentially incurring negative repercussions from their governments, yet they made an independent and responsible choice – a choice we unequivocally respect and will continue to honour in our dealings with such partners.
However, there were other companies that made a demonstrative exit, opting to sell their Russian operations – often at a steep discount – and proceeded accordingly. Worse still, some began sabotaging operations, thereby jeopardising entire teams, their Russian clients, suppliers, and contractors. Incidentally, these companies are well-known to us, and we were compelled to introduce interim administration in their case.
I acknowledge that some Western owners were intimidated and lacked the resolve to oppose their political authorities – this explains their conduct. Yet, anticipating a shift in the political winds, they preserved a loophole: retaining buyback rights through prearranged options.
I instruct the Government to closely monitor this situation and similar transactions to prevent scenarios where owners sold their Russian businesses at knockdown prices – effectively abandoning them – only to now seek repurchasing these assets at equally trivial sums. This cannot be permitted; such practices are untenable.
Market conditions have shifted: companies have strengthened, increased their capitalisation, and now command entirely different valuations. Consequently, each such transaction will evidently require individual, thorough consideration.
To reiterate, we did not ask anyone to leave. Those who left our market chose to do so themselves under pressure from the elites of their respective countries, or without such pressure, it does not really matter. In any case, we are talking about seasoned businessmen who analysed risks and were clear about the consequences. If the Western companies’ niches have now been taken by Russian business, then, as I said before – and we have a popular saying to that effect – this train has left the station, and there will be no privileges or preferences for the returning companies.
At the same time, Russia remains an open country. Whoever wants to return are welcome to do so on a competitive basis in accordance with our law. I am asking the Government to update the list of foreign companies that have stopped working in Russia, and to develop a procedure for coordinating their return with mandatory guarantees of good faith and conscientious business practices in our country. Of course, this process must be as transparent as it gets.
Colleagues, Russia is carrying out large-scale and long-term development plans, launching major infrastructure, industrial and transport projects, developing vast unparalleled territories in the Far East, Siberia, the Arctic, and other regions of our country, and strengthening promising and mutually beneficial ties with the vast majority of countries around the world.
Transitioning to a sustainable trajectory of balanced growth is the main challenge for the national economy. I want to emphasise the balanced growth trajectory. We will need to ensure high-quality and intensive dynamics in the real sector by upgrading production facilities and increasing productivity (better yet, it should be done through the use of innovative technologies rather than intensive approaches), and to increase the output of goods and services across the broadest possible range, thus forming a supply-side economy.
At the same time, it is important to avoid unbalancing of individual industries and skewing key macro parameters. This is our most important objective. Among other things, we must contain inflation and bring unemployment down. This is a common task facing both the Government and businesses. Not just major businesses that are part of the Russian Union of Industrialists and Entrepreneurs, but small and medium-sized businesses as well.
Based on the entrepreneurs’ demands, we will continue to align the mechanisms of the entire state economic policy, including monetary policy, to make sure that these mechanisms work primarily to increase Russia’s production potential, to put new enterprises into operation, and to strengthen the country’s technological and financial sovereignty and its human resources potential.
The Government is currently preparing a corresponding plan that includes additional measures. I count on active participation of the Russian Union of Industrialists and Entrepreneurs, as well as other business associations in our country, in this work. And of course, I wish everyone success for the benefit of Russia.
Thank you.
Alexander Shokhin: Mr President, thank you very much for your substantive address on key issues that concern both business and government.
Indeed, you concluded by saying: “for the benefit of Russia.” As evident, our slogan here reads: RSPP: Uniting Business for the Benefit of Russia.
Vladimir Putin: I read it.
Alexander Shokhin: Thank you. Then our efforts were not in vain.
Mr President, I would like to inform you that two years ago from this rostrum, you instructed the RSPP to establish the Leaders of Responsible Business award together with relevant government agencies, other business associations, and social partners, mandating its presentation to laureates at our annual congresses.
For your information, we held this awards ceremony today. The winners include PhosAgro, Metalloinvest, Severstal, and Norilsk Nickel. Laureates comprise Russian Railways, Gazprom, SIBUR, RUSAL, and perhaps the less widely known company Pigment. Several other winners were recognised in specific categories of socially responsible corporate conduct. Overall, over two years, this award has proven effective in mobilising not only large corporations publishing non-financial reports – a criterion you emphasised two years ago – but also medium-sized enterprises now emulating this practice. We will compile the two-year experience of administering this award and possibly adjust certain provisions to broaden corporate participation, then report our findings to you. Next year’s laureates may include more entities unfamiliar to you.
At this point, Mr President, I would like to thank you, particularly as Dmitry Peskov indicated that you have a conversation scheduled with Donald Trump until 6 PM.
Vladimir Putin: Never mind – that’s his job.
Alexander Shokhin: I don’t know. We’ll have to see how Trump reacts to this remark – he enjoys interviews and may respond promptly.
Vladimir Putin: I referenced Peskov, not Trump.
Alexander Shokhin: He will note our discussion.
But given your exceptionally packed agenda today and in coming days, I would indeed like to thank you and conclude this public portion of our conversation, resuming discussions later with RSPP bureau members and aligned major enterprises not yet affiliated. Perhaps RSPP membership should serve as an entry ticket?
Vladimir Putin: Do RSPP members receive privileges?
Alexander Shokhin: Well, we organise the congress. A longstanding tradition holds that after the public session, a meeting with the RSPP bureau follows. We have 30 bureau members in total. Do you know how many are attending today? Nearly 90 people.
Vladimir Putin: So, no need to depart? (Laughter in the hall.)
Alexander Shokhin: These are the aligned ones. (Laughter.) Thus, there are effectively no privileges except the sense of responsibility towards their employees and the Constitution, where social partnership is enshrined.
In truth, beyond formalities, genuinely responsible companies are present here – those envisioning not only their own future through financial growth metrics, etc., but also contemplating the nation’s future. This aligns with your remarks today about Russian businesses successfully filling vacated niches, pursuing technological sovereignty and leadership, while implementing social programmes.
By the way, redomiciliation, i.e. the process of the Russian companies returning to Russian jurisdiction from abroad, from the offshore areas, was a hot topic two years ago. This process is now almost complete thanks largely to our discussions and the effective work of our colleagues from the Finance Ministry, the Ministry of Economic Development, and the State Duma. In this sense, there is no other place to invest but Russia. Thanks, as you pointed out, also go to those who are imposing sanctions on us.
Vladimir Putin: No, investing elsewhere is okay. The world is vast, and you should make investments that are lucrative for you and Russia. The rates of return are high, and investments are reliably protected. There are many regions like that around the world.
We have colleagues in this audience who invest in Africa and Asia. They need to make investments elsewhere to support the production here. Some companies invest, while others relocate their production facilities, because it is easier for them to work on the global markets from there.
I know quite a lot, since we meet regularly. There are investment opportunities. There are countries that, as you are aware, have so much money in all kinds of funds that they do not know what to do with it. The main character in Kalina Krasnaya film famously said that the inordinate amount of money he had on him was “burning his leg.” Remember? That is a problem for them. The funds in their possession are huge, enormous, sky high piles of money. So, what is this money doing stashed somewhere out there, in these, pardon the language, lame jurisdictions? What is there to do with this money, what will become of it? Everyone is pondering it, everyone is thinking hard about it. You are well aware of it. Everyone is thinking about the future of the funds that are kept in Western banks. Everyone is thinking about it. Well, of course, this sent a message that reverberated across the global economy. We need to look for investment opportunities which abound. Of course, the state must ensure the interests of Russian businesses. This is true. However, the economy of our country, Russia itself, must be this safe haven. Of course, we still have a lot to accomplish.
I know, they are not saying it now. We will probably meet as a small group, although 90 companies is not really a small group. We also need to work with law enforcement. You may have heard me say at every meeting with the boards – tomorrow, I think, I will speak at the Prosecutor’s Office – that it is imperative to protect the interests of the Russian business, and to do our best to make sure that our legal system encourages businesses to come here without second thoughts, and that the judicial system is independent and efficient. We need to accomplish a lot more. I understand everything. Believe me, we will do everything to make this happen.
What is good about the way things are abroad? They freeze everything and take everything away rudely in a manner that is not civilised at all. I am not even talking about legal systems which simply do not exist, and even if they do they only serve their own interests. That is what this is all about, you see?
By the way, I took note of that in the political sphere a long time ago. I will not name any names, but here is a situation: they are discussing a political issue and say we will do this, this, and that, and you think to yourself what the heck? Sometimes, I would point out that it cannot be done that way because it contradicts this and that…” They would then tell me, “Well, it is okay, it does, but it is a viable solution.” That is all. These approaches have been applied in politics for a long time now. Now, these practices are rife in the economic sphere as well.
So, we cannot trust, but we need to create such a political system and to build such a legal and law enforcement practice in our country. We need to work on it as a team in order to make it a solid, stable and reliable system. I think the way this work has been unfolding between the business community and the Government in recent years sets a good example.
Join the RSPP! (Laughter in the audience.)
Alexander Shokhin: Friends, I propose concluding the public segment of the meeting on this optimistic note.
Thank you, Mr President, for your participation and your kind words.
Vladimir Putin: Thank you for inviting me.