Industry & Trade Minister Denis Manturov & Putin Talk Industrial Development

“During a visit to the Chelyabinsk Forging and Pressing Plant. From left to right: Chelyabinsk Region Governor Alexei Teksler, Presidential Plenipotentiary Envoy to the Urals Federal District Vladimir Yakushev, Deputy Prime Minister and Minister of Industry and Trade Denis Manturov, Director of the Chelyabinsk Forging and Press Plant Andrei Gartung, and Presidential Aide Maxim Oreshkin.”

The words above the group say Russian Robot and then the Logo.

Manturov’s on the left. Many have read his name in earlier reports. He’s very capable.

What we get to read about this meeting is are two short monologues first by Putin then by Manturov. about the issue of industrial development. Following this meeting, Putin met with Chelyabinsk’s regional governor Alexei Teksler, on Putin’s right in the top photo for more talk about development.

Putin will have one more term to cement his legacy on Russia. He’s not so much in a hurry as wanting to get it done right, meaning it benefits all Russians and Russia. In Russia, they talk of family dynasties in certain professions. IMO, the Soviet ethos lives on within Russians and some of its neighbors. Here’re the monologues:

Vladimir Putin: Dear colleagues, good afternoon!

We are meeting in Chelyabinsk. Here, in the Urals, in one of our historical industrial regions, we will discuss issues related to the development of industry, assess what additional measures need to be taken to support individual enterprises and entire industries, to ensure the country's technological sovereignty, and to strengthen our human, scientific, and production potential.

I would like to note right away that the Russian industry is working steadily and developing confidently. Despite external pressure, new supply channels for raw materials and components have been established, and connections have been established with reliable, interested partners.

Many domestic companies have successfully replaced imported products, mastered their own line of components, machines, equipment, attracted personnel, resources, technologies and organized production aimed at those market segments where Western brands dominated until recently.

Moreover, we are talking about consumer goods of wide demand, such as furniture, clothing, shoes, household chemicals, perfumes, cosmetics, but not only. We are also talking about high-tech products, such as pharmaceuticals, mechanical engineering, including electrical equipment, aviation and automobile equipment, and modern trains.

KAMAZ launched a new K5 mainline tractor last year. Yesterday we were at the Sinara Group enterprise, which has already started mass production of a fully domestic high-speed passenger electric train "Finist".

Just before the start of the meeting, my colleagues and I visited some enterprises, including a new industrial robot manufacturing facility that opened here in Chelyabinsk. They are already developing and will continue to develop this promising area and implement big, ambitious plans, as our colleagues told us.

We will automate production, widely introduce digital solutions, and of course, we are preparing and will continue to train personnel who will have to solve the tasks of moving our industry to a qualitatively new level, to higher growth rates.

I have already mentioned that last year the volume of industrial production in Russia increased by 3.5 percent. At the same time, manufacturing industries grew by 7.5 percent.

I would like to thank the specialists who work in our industry. I would like to express my gratitude to everyone: workers, engineers, foremen, managers of enterprises – all those who work in mines and power plants, factories, factories, factories and specialized industry institutes. Their professionalism, responsibility, and dedication increase the potential of our country day by day and make Russia even stronger.

The state's task is to expand the space of opportunities for domestic industry, so that new production facilities and modern, well-paid jobs can be modernized and opened in all regions of Russia.

In the context of a rise in the Central Bank's key rate, of course, we need special mechanisms. I hope that this is a temporary measure to combat inflation and we will achieve in the near future the key indicators that we set for ourselves, both the Government and the Central Bank have in mind. But for now, we need targeted support measures and special mechanisms to support the industry.

We have such mechanisms in place. This includes a cluster investment platform. Within its framework, organizations that launch projects in key industries and produce priority products can count on soft loans of up to 100 billion rubles [~$1.1 billion]. This is 30 percent of the Central Bank's key rate plus 3 percent. However, the investor must invest 20 percent of their own money in the project.

More than 30 such large-scale, complex projects have already been approved. About 35 more are in the works.

At the same time, it is important to look beyond the horizon and invest in creating your own solutions in strategic sectors, even if this does not bring a quick, immediate return. For example, we are talking about next-generation vehicles.

It is clear that in this case, you need support under special conditions. It is also known that the Government has already proposed such conditions for some projects. I would ask you not to delay their implementation.

Further. An industrial mortgage has been launched, we have talked about it many times, worked on its terms, and it has been launched. To buy, build or upgrade production areas, companies can attract a seven-year loan of up to five hundred million rubles at a rate of 3-5 percent per annum. More than eight hundred such loans have already been issued.

The third. Concessional loans from the Industrial Development Fund are also in demand by enterprises and businesses. It has been working steadily for several years now, and in general the practice is good. With its help, more than one and a half thousand projects have already been financed for a total amount of about five hundred billion rubles. Decent money. However, business representatives say that even this is not enough, they are ready to use this tool more widely and expand their production facilities.

I would like to emphasize that these loans are in demand and our companies need them. Therefore, I ask you to think about recapitalizing the Industrial Development Fund.

I understand that these are always difficult issues, especially when all the key budget parameters have been agreed upon and launched. But you also need to think about it. I hope that we will also have additional income.

In general, we will definitely continue to expand and fine-tune the mechanisms of industry support. Together with business, the scientific community, our enterprises and labor collectives, we will solve specific tasks to strengthen the country's technological sovereignty, expand domestic production and industrial output.

Of course, we talk about this all the time, it is impossible and unnecessary to produce everything on our own site, on our own territory. Therefore, we intend to expand international industrial and technological alliances, build cooperation chains with colleagues from the Eurasian Economic Community, BRICS countries, and anywhere else in the world, with other states and associations that are ready to work together.

At the same time, I would like to emphasize once again, as I just said at a meeting with people who work at enterprises here, that we need to have our own "technological keys" in critical areas for the country's security and for improving the quality of life of citizens, and we will definitely do this. It is important to concentrate both your scientific potential and human resources here.

In this regard, I would like to remind you of the task at hand. By 2030, investments in Russian projects for the production of priority industrial products should amount to at least 10 trillion rubles [~$111 Billion]. Today, let's take a look at how our mechanisms are working to solve all the problems that we face in this key area – the development of industry.

Please, Denis Valentinovich, please.

Dmitry : Thank you.

Dear Vladimir Vladimirovich, Dear colleagues!

I am confident that the growth of the manufacturing industry last year was supported by positive dynamics in almost all sectors. If I may, for the main industries that were in a difficult situation in 2022. I'll give you the basic parameters.

First of all, this is the automotive industry, where the Government's decisions with your support allowed us to increase production by 13.6 percent. Russian flagships are systematically increasing their loading capacity, simultaneously restarting sites abandoned by foreign companies continues, and localization programs for automotive components are gaining momentum. Domestic metallurgists have fully adapted to the new conditions, and our steelworkers have increased smelting by 5.3 percent, thereby overcoming the negative trends of 2022.

The stabilization of the situation in the industry is due to the diversification of the sales structure, I mean an increase in shipments to the domestic market, primarily for infrastructure projects and housing construction. Switching exports to Asia, the Middle East, and Latin America also played a role.

A similar management model contributed to the recovery of volumes in the chemical industry, an increase of 5 percent. The main factor here is an increase in the production of mineral fertilizers by more than 10 percent. I would also like to note the positive developments in low-and medium-tonnage chemistry. Over the past two years, eight new production facilities have been opened in this segment and about 80 more projects have been funded to create new products, which will begin to go into production mainly in 2025 and 2026.

Another area where we managed to improve the situation is the timber industry. To help our exporters reconfigure their routes, we subsidized transportation costs by a total of 11 billion rubles, and this primarily applies to producers in the North-West. In combination with other solutions, this made it possible to increase the volume of wood processing at a rate of more than 10 percent from the second half of 2023. And furniture production increased by more than 30 percent in the same period. Thus, all our industries have returned to the development mode and are concentrating on the task set by you to achieve technological sovereignty. This is supported by unprecedented measures to support investment activity. Last year, the total amount of budget investments in R & D exceeded 155 billion rubles. Mr Putin, we have never allocated such resources to innovative developments. Similarly, the Industrial Development Fund issued a record amount of loans, amounting to 142 billion rubles.

And, of course, last year marked the beginning of the application implementation of the new system mechanisms you initiated. I am referring, first of all, to the cluster investment platform, as you have already mentioned. Last year, this tool created conditions for additional attraction of about 730 billion rubles to the industry.

Among the recipients of soft loans are enterprises of metallurgy, chemistry, pharmaceuticals, automotive industry, transport, energy and oil and gas engineering. Projects worth another 1.4 trillion rubles are currently under review. Industrial mortgages are also in high demand, which have already provided businesses with the purchase of about 4 million square meters of production space on preferential terms.

Vladimir Vladimirovich, we must definitely continue the operation of this mechanism. This is all the more important, since the main recipients are small and medium-sized companies that participate in cooperation on projects of already large businesses. For them, promipoteka is the fastest way not only to acquire, but, most importantly, to increase these capacities and areas, including by purchasing ready-made plots in industrial parks. This format of industrial development of the regions, along with industrial technology parks, is also successfully scales: now 280 such sites have already been created in the country as a whole. Over the past 10 years, residents ' investments at these sites have exceeded 2 trillion rubles. Together with the regions of the Russian Federation, we continue to expand this infrastructure.

Mr President, the mechanisms I have outlined have contributed to a significant increase in investment activity. The final figures are currently being compiled, but preliminary growth is expected at the level of 10 percent compared to last year. This, I believe, is a good base for further work.

And on behalf of the Prime Minister, the main tasks are consolidated in key national technology projects. In particular, we focus on cross-cutting areas for the entire industry. This is, first of all, radio electronics, it is given special attention, and this year the budget for its development provides for more than 210 billion rubles. Including support for electronic engineering-products that are practically necessary for the sovereignization of the industry as a whole.

Another fundamental basis for almost the entire industry is the segment of production of means of production. At a meeting with industry representatives today, I told you about this in detail last October. In addition to a wide range of machines, machining centers and tools, industrial robotics is a priority for our enterprises. We will provide comprehensive competence development in specialized centers created on the basis of Innopolis, and the production flagship of the industry should be the plant where you were, the Robot Factory. We also encourage the development of industries that determine food, energy, information and biological security through national projects. Of course, we continue to work in the interests of increasing the economic connectivity of the entire territory of our country.

Before concluding my report, I would like to say once again that we must maintain the level of support for the manufacturing industry in volumes no less than it was done in 2023. This will allow us to solve the most complex tasks and meet the challenges that we face.

In conclusion, on behalf of the entire industry, on behalf of all sectors, Mr President, I would like to thank you for your attention and support. I am sure that we will be able to cope with the tasks that you set for us.

Thanks [My Emphasis]

And the sanctions were going to harm Russia. Russia’s economy is screaming along with plenty of capital and projects for it to be put to work at. That will be part of what Putin and Chelyabinsk’s regional governor Alexei Teksler. All emphasis mine:

Very handsome table.

Vladimir Putin: How are you?

A. : Vladimir Vladimirovich, we have a labor region – we are working hard, things are going well.

Vladimir Putin: Ok? There are certainly issues that require special attention, as we say. Let's start with them.

Alexander Teksler: Dear Vladimir Vladimirovich,

First of all, I would like to thank you for your visit to the Chelyabinsk region and for the attention you pay to the development of our region. We have wonderful people and beautiful nature. South Ural residents have always lived with big state tasks, and our three cities – Chelyabinsk, Zlatoust and Magnitogorsk – have the title of "City of Labor Valor". And we are now working to win. We have already discussed this today.

I will focus on the key indicators that characterize the region and our work. First of all, this is an indicator of the well – being of citizens-this is life expectancy. According to the results of 2023 in the Chelyabinsk region, the average life expectancy was 73.6 years – this is the highest historical value for all time. We have almost reached the national average, although we lagged far behind.

Birth rate. It is also important to note that since 2019, we have maintained stability in terms of the birth rate. On the slide I have it presented: 1.48 and 1.47; 1.48 – in 2019, 1.47-now. The indicator is currently higher than in the country. And mortality: also by the end of 2023, the death rate of the population in the Chelyabinsk region reached the lowest values in the last 30 years.

By your decision, 2024 has been declared the Year of the Family. It is an absolute priority for us to support families with children. The photo shows the Kovalev family from Chelyabinsk, they are the winners of the All-Russian competition "Family of the Year". My mother is still pregnant and has given birth to her fourth boy, and everything is fine.

Over the past five years, the amount of social support in the region has exceeded 100 billion rubles from all sources. On behalf of all residents of the region, I would like to personally thank you, Mr Putin, for your attention to the issue of supporting families – we feel this. I just recently met with families, we were opening the Year of the Family, and our families asked us to thank you for your attention and care.

We have a growing number of families with third children. This is a very good trend, and we are very happy about it. We have a number of our own unique benefits. For example, we have a monthly payment for our second child for a year, and we are constantly increasing it.

As for the support of SVO participants, we pay special attention today.

Vladimir Putin: And their families.

A. Teksler: And their families, yes. I regularly hold meetings myself with the families of the participants, and [with the families] of those who died, our soldiers. We have regional payments, and they are very decent. In addition to payments, there are special measures to support families – tuition fees, free travel, transport tax benefits, free gasification and a number of other benefits.

And there is, Mr President, one point that I am very proud of. Last year, we opened a unique support and rehabilitation center for members of the SVO, where we do everything possible to make our heroes feel cared for. What is it? This is a separate building, an object of more than four thousand square meters.

In the center, we have not only placed the Defenders of the Fatherland Foundation, but also there, on these squares, we have an Employment Center, a Personnel Retraining Center, training classes, psychological assistance rooms, legal assistance, various simulation apartments, bus stops, various situations. When our guys come back, if they have health problems, they adapt in these simulation sites – and their families, by the way – to this new situation. The physical therapy hall is also unique: there is not just physical education – there are devices that allow you to identify the problem and work on this problem separately. Rental of rehabilitation equipment. Then there are photos of what we have presented there.

Anna E. Tsivileva – we opened the center together, because the Defenders of the Fatherland Foundation is also located there. Vladimir Vladimirovich, people are already coming to us from other regions, because we are one of the first to organize it.

But I also want to say that we are actively developing public associations and socially oriented non-profit organizations. By the way, in this center a special zone is provided for a non-profit organization that deals with the topic of supporting our fighters and their families. In general, we pay great attention to this area.

From all sources, our funding has increased 15-fold over the past five years. It helped us during the pandemic, and it helps us a lot now, and it's also important for us. By the way, last year we took the third place in terms of the number of grants supported by the Presidential Grants Foundation, and the fifth place in terms of the number of projects in the country that are supported by the Presidential Grants Foundation in the field of culture. We believe that this area is also very important, and we are one of the leaders.

I will focus on the topic of healthcare in particular. Over the past five years, 204 medical institutions have been overhauled under the federal program.

Vladimir Putin: The result is life expectancy as well.

A. Teksler: Yes. In 2019, we set ourselves the task of building at least 100 FAPs. We have already built 109 FAPs, and we are continuing this work. Infectious diseases hospital was built in a pandemic in 74 days. Vladimir Vladimirovich, thank you very much. With your support, we are now launching a large-scale project of pediatric surgery. I'll talk about this project a little further.

National projects. Vladimir Vladimirovich, according to the results of 2023, we have a cash execution of national projects – 99.2 percent. From important events: Last year, we introduced a record amount of housing – 2.1 million square meters.

Interestingly, we looked at it in retrospect: in the late 50s, it was 1,9. But there were mostly blocked houses introduced, so-called social cities were built at factories, in fact, barrack-type housing was built – 1,9 was. In the late 80's – almost 1,8. In modern times, they approached two million. But for 2.1 ... last year was a record year for us, a big event. You also strongly support this direction, thank you very much.

And many other important results. The program of resettlement from dilapidated and dilapidated housing was completed ahead of schedule, almost for two years. 16.5 thousand people were resettled.

Vladimir Putin: This indicator does not decrease for you.

A. Teksler: Yes. More than four thousand kilometers of roads were built.

Over the past five years, 85 major sports facilities have been built.

Vladimir Putin: We still need to increase the number of social facilities, including kindergartens and sports facilities.

Alexey Teksler: Mr President, we have introduced 61 kindergartens in the last five years. This is again a record. If we take the Soviet era, then, probably, only then did so much. 15 schools were built and 67 were renovated on your behalf.

Vladimir Putin: 15 new ones, right?

A. Teksler: Yes, 15 new ones. These are all record figures. Of course, thanks primarily to your support.

Mr President, you always pay special attention to the next important issue: citizens ' incomes. This is also a result indicator for all of us. We have a positive trend. We ended last year with an increase in wages of 16.6 percent, and real wages-10.1 percent. This is a good indicator, higher than the national average.

As for the average per capita income, the growth over the past year was 12.4 percent in absolute terms, and 6.3 percent in real terms. We have a record low unemployment rate of 2.2 percent.

Another achievement, I believe: we are reducing the number of our citizens who live below the poverty line. We have a constantly positive trend.

Vladimir Putin:A reduction of more than two percentage points?

A. Teksler: Yes, a reduction of 2.4 percentage points. Yes, all this became possible thanks to the system work. In fact, we've been discussing economic growth all day. Here, on the one hand, the sanctions helped us in a good way, but we ourselves with a mustache, as they say, are actively working on this. As I said earlier today, our industrial production growth is very serious.

Vladimir Putin: It's decent. 9.6 percent?

A. Teksler: We expect 10.8 percent.

Vladimir Putin: At the final count?

A. Teksler: Yes.

Vladimir Putin: Is this up to November of last year?

A. Teksler: Yes, yes.

Vladimir Putin: That is, if the country as a whole has 3.5 percent, then you will have more than ten?

A. Teksler: Yes, we expect more than ten, 10.8%. And the manufacturing sector – we visited these enterprises today – is 13 percent. As a result, we expect the region's GRP to grow by 7.8 percent this year. This is still at a minimum, because some people give me forecasts even higher than eight, but I still [voice] what Rosstat and I have calculated.

Vladimir Putin: Gross regional product.

A. Teksler: Gross regional product, yes, plus 7.8 percent.

A very important area is investment. This year we expect growth of 15 percent, more precisely, for 2023 in relation to 2022 15 percent growth. Separate control over the implementation of environmental programs – achieving the level of emissions, which are provided for by Presidential decrees. Both in Chelyabinsk and Magnitogorsk, we perform these tasks.

Here, further on the slides, major investment projects are presented. I would like to mention just a few – of course, metallurgy, our traditional industries – but I would like to mention a few interesting projects.

We have a Modern Glass company, and last year we launched a project there – the production of architectural double-glazed windows. Now it reaches a height of 12 meters and a width of up to 3.3 meters. In fact, this is a glass wall. All our major projects: Okhta Center, now Olimpiyskiy, recently delivered to Baumanka, a new campus, and so on. They are unique – even on a global scale. And we are already working…

Vladimir Putin: A museum and cultural cluster.

A. Teksler: Yes, exactly. And we are working now, the next goal is an 18-meter shot. I think that we will probably solve this problem by the end of next year.

We have talked a lot about Sinara and the launch of production of trolleybuses and electric buses.

The next project is a breeding reproducer of the first order, where we will develop domestic breeding of chicken eggs. Up to three million eggs of the parent herd, this is the so-called "Shift-9". Our genetic material is mostly imported, so this is import substitution. We are a large agro-industrial region, and we occupy key positions: the first, for example, in pasta, the third or fourth-in egg, and in a number of other areas. Therefore, it is also a project supported by the Ministry of Agriculture, and it is very important and necessary for our entire country.

Four years ago, we started from the 25th place in the investment attractiveness rating, and now we are in the 9th-11th place – we have also made serious progress. Creating a free economic zone. And, in fact, the key infrastructure projects that we are implementing thanks to your support – there are several projects here: on the next slide, they are also listed, but in more detail.

Vladimir Putin: Now transport opportunities are also developing between Yekaterinburg and Chelyabinsk, and the arteries are very good. People can move with a different quality and speed.

A. Teksler: Yes, thanks to you. We have a very promising agglomeration, Mr Putin, I mean Chelyabinsk and Yekaterinburg. Only Moscow and St. Petersburg are bigger. 200 kilometers, two megacities nearby. We launched the Orlan train.

Vladimir Putin: Millions of people.

A. Teksler: And you were in Sinara yesterday at the Finist production facility. We are launching Finist [HSR] between Chelyabinsk and Yekaterinburg on March 19 – we also told you about this yesterday. Plus, according to your decision, we completed the four – lane road last year-you opened this road.

Building an inter-university campus. By the way, we discussed it today. We are currently renting out the FOK this year, we are starting to build a swimming pool and roller ski trails-this is on the campus site. Here's what we discussed today.

Metrotram is a separate big story. Thanks to you, we have revived the old dream of Chelyabinsk residents about the metro: we modified the metro tramways, meaning that special trams will go underground. We started this project.

Vladimir Putin: The underground is almost completely shallow.

A. Teksler: We have one station that is quite deep, there is a little over 30 meters, "Shopping Center" - it was made historically, but we did not start from scratch. These are also security issues, because we should have already decided on what we found and moved on.

We are implementing a project that is unique in many ways-we have analyzed it on a global scale. The contractor is working. We hope that in 2026 he will go.

And here's the children's surgical building I was talking about: this is what it looks like. We are also starting construction based on your decision. This is a breakthrough in children's healthcare for our region. Thank you very much for this.

Vladimir Putin: 300 seats?

A. Teksler: There will be 300 beds, plus 30 more intensive care beds. Above all: 70 oncohematological beds.

This is a completely unique project in terms of layout and everything else. Our old children's hospital will move here in full. This is great, of course, and will improve the situation in the field of children's healthcare.

Multi-specialty medical Center in Magnitogorsk, you also know about this project, we together with Viktor Filippovich Rashnikov appealed to you – you supported it. We will also implement this project.

Vladimir Putin: He does a lot of useful things.

A. Teksler: Yes, and on the territory of the city resort "Attraction" – I know, Viktor Filippovich told you about "Attraction" - I will not stop. It is unique in the country, but for our region it is simply a grandiose project. Thank you to Viktor Filippovich for this work.

Multifunctional sports complex "RMK-Arena". We are building several major sports facilities: a multi-purpose sports hall and the next one that you opened, an outdoor track and field football arena in the city of Chelyabinsk - also unique, because it is not only football, but also track and field. And everyone is very happy about this, I mean all the federations, Matytsin recently arrived, the games were opened.

The airport in Magnitogorsk is also being built according to your decision. Here are photos of the runway-remember, you came last time, in 2021, as we said. And we completed the runway repairs last year, and now we are starting to build a new terminal.

And I also wanted to share, even prepared a little more photos for you, also a unique object-today the largest temple that is being built: the cathedral in Chelyabinsk. Historically, it was destroyed in the 30s, and now we are building a large church. It is already ready externally, completely ready. This is how it looks, also classicism. By the way, just like in St. Isaac's, we will be able to go up and around, and we will also be able to do this. These are already photos of the lower church, which we will open at Easter, in early May. And the next big photo is a project of what will be in the upper temple.

Vladimir Putin: It's beautiful.

A. Teksler: Yes, and His Holiness doesn't just know about the project – we tell him all the time.

Vladimir Vladimirovich, I have one more request. We have a large metallurgical production facility on the territory of Chelyabinsk, in fact in the central part of it – the Chelyabinsk Electrometallurgical Combine.

Vladimir Putin: Harmful production.

A. Teksler: Yes, harmful production. In 2019, we signed an agreement to reduce emissions.

Vladimir Putin: Shareholders, right?

A. Teksler: Yes. At the moment, the agreement is not fully implemented. In terms of electrode production, no work was carried out to reduce emissions. Today, the prosecutor's office makes claims against the owners of the plant for fulfilling various obligations.

Vladimir Putin: I know this problem. It is necessary to close this harmful production facility here in the city center, move it out of the city, work together with the Government of the Russian Federation to continue working, save jobs, and attract investors for the part that is necessary and will be associated with the transfer and development of this work at a new technological level, with the support of the Government of the Russian Federation, and it is desirable to attract local investors.

Alexander Teksler: I would like to ask that there be local investors who know the specifics of the region.

Vladimir Putin: So do it. I fully support it.

Alexey Teksler: Thank you very much, Mr Putin.

There will be one more request: transfer social objects from the company's balance sheet – important objects for the city. I mean the swimming pool, I mean the historic shopping center – a unique building, which today is also owned by these owners, which we will use for the needs of citizens.

Vladimir Putin: I think that all the property should become the property of the state, and some of these objects – harmful production, as we have agreed now, should be taken out of the city, and social objects, of course, we will do so: we will transfer them to the ownership of the subject of the Federation.

Alexander Teksler: Thank you, Mr President. Thank you so much.

This is a very important decision for all Chelyabinsk residents. We have always talked about Chelyabinsk as a favorite city, but, of course, there is a historical industrial heritage and we need to move towards moving production out of the city. Chelyabinsk residents will be grateful to you at all times. Thank you very much.

Vladimir Putin: Will you find local investors who can take part in this joint work?

A. Teksler: Yes, of course we will.

Vladimir Putin: So do it.

Interesting solutions provided by Putin at the end. It’s Good Times and they’re rolling despite the conflict with NATO. Chelyabinsk is a happening place and going to get better. The internal economy and a rise in exports with the change in orientation has resulted in an increase in non-hydrocarbon earnings which spurred the overall real economy. I don’t see the capital flow slowing down anytime soon. On to the last stop in Chelyabinsk.

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