For the development of infrastructure is not enough to increase government debt, said Shokhin

© RIA Novosti / Konstantin to Collabourate in Photobacterium of the Russian Union of Industrialists and entrepreneurs Alexander Shokhin. Archival photoFor the development of infrastructure is not enough to increase government debt, said Shokhin© RIA Novosti / Konstantin to Collabourate the image Bank

The head of RSPP Alexander Shokhin considers that only increasing the national debt of the Russian Federation for the implementation of infrastructure projects is not enough, you must maintain a regulatory and tax environment for the entire period of implementation of investment projects.

In mid-February, Prime Minister Dmitry Medvedev instructed ministries and departments to provide him with the agreed proposals for the infrastructure of the mortgage.

In February, media reports citing sources said that authorities are discussing the increase in government debt to 15 trillion rubles for the financing of infrastructure over the next political cycle. The media noted that the funds will be used for the development of agglomerations, the construction of roads and Railways.

«It is important not to have that, we just increase the debt we issue in an additional two to three trillion as some suggest, and thus implementing public investment projects. We need to create conditions for private investment, so that resources companies resources banks banks holds much liquidity — that it was where to invest. For this project, must be clear, transparent arrangements to guarantee the return of capital, and one of these mechanisms may be state involvement in these projects», — said Shokhin RIA Novosti.

«In this case, it is important for business that one of the forms, enabling its participation in long projects, and guarantee the repayment of capital, is the preservation of the conditions of doing business for the entire period of project implementation. This so-called «grandfather clause.» The «grandfather clause» in the legislation are present, including, the law on industrial policy in relation to special investment contracts,» — said the head of RSPP.

According to him, businesses need to ensure that the tax and regulatory conditions for the entire period of the project will not change.

«Businesses not only need preferences, but guarantees that for the period of the infrastructure project will be increased taxes will not be increased in various non-tax fees and so on. The same regulatory and tax environment for the entire period of the project implementation is the main argument for many investors to go into these projects,» — said Shokhin.

Infrastructure projects, according to Shokhin, may not be as lucrative as commercial. For this reason, the business will go to these projects only at a certain part of the state.

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