BASING NATIONAL PROJECTS ON COMPETITIVE PRINCIPLES WILL HELP ACHIEVE THEIR GOALS

On 22 April, Olga Sergeeva, Head of FAS Department for Control over Financial Markets took part in the annual meeting of representatives of the authorities and the Bank of Russia with top-managers of Russian banks

She drew attention of the event participants to 12 National projects approved to fulfill the “May” Order of the President of the Russian Federation [1], and summed up some results of FAS involvement in executing the projects.

“The results of FAS efforts in 2018 was preventing the shortage of bank guarantees in public and municipal procurement”, reminded the speaker. “FAS insisted that a draft Governmental Decree [2] should not contain provisions, according to which the number of banks meeting the requirements for issuing bank guarantees to secure applications and perform contract, would reduce nearly four time”.

As Olga Sergeeva pointed out, it, among other matters, had created conditions for expanding access to financial resources, particularly, small and medium business, which now helps achieve the goals of the National project for “Small and medium entrepreneurship and support of individual entrepreneurial initiative”.

The representatives of the antimonopoly body described the work on the National project for “International cooperation and export”, as a result of which FAS achieved a possibility for all credit organizations to participate in the programme for subsidizing production of high-technology products [3].

According to Olga Sergeeva, FAS will continue pursuing the measures of the National projects, particularly, securing access of financial organizations to various subsidizing programmes and other mechanisms of financing project participants.

She emphasized: “We shall make every effort so that the National projects’ measures are performed in line with the basic competition development principles embedded in the Order of the President of the Russian Federation [4]. It will facilitate efficient and strong achievements of the strategic goals of Russia”.

The event took place at the Russian Banks Association. As is customary, it focused on the pressing issues of regulating operations of credit organizations.

[1] No.204 Order of the President of the Russian Federation “On the national goals and strategic objectives for development of the Russian Federation until 2024” of 07.05.2018

[2] No. 440 Decree of the Government of the Russian Federation of 12.04.2018

[3] No. 191 Decree of the Government of the Russian Federation “On state support to organizations with corporate programmes for increasing competitiveness, and on amendments to the Rules for granting subsidies from the federal budget as asset contribution of the Russian Federation in the “Bank for Development and Foreign Economic Affairs” State Corporation (“Vnesheconombank”) to compensate some costs related to support for manufacturing of high-technology products” of 23.02.2019

[4] No. 618 Order of the President of the Russian Federation of 21.12.2017