[000:01:22;00] we continue to review the main event of the eastern forum about the key economic topics of vladimir putin's speech at the plenary session artyom yamshchikov will tell you he works in vladivostok and he is joining us artyom greetings president, he really devoted a lot of time not only to projects that already make up the economy of the far eastern federal district, but i promising directions that will determine the future region. so what will it be like? regarding the future of the region , the president said that there is a 21st century. this is the century

rapid development of the far east and there are good prerequisites here. as an example , he cited the country’s trade turnover between the asia-pacific region and russia last year. he added almost 14% plus and this year in just 6 months another 18% plus. let's listen. what other prerequisites are there for this? the far eastern federal district is everywhere here - this is 40% of the territory. the russian federation is home to almost half of our forests and gold reserves of more than seventy percent. fish, diamonds, over 30% titanium copper and so on work the most important strategic enterprises, seaports and railways, in short, the role of the far east for our country for its future for the opposition to russia in the multipolar world is exceptionally great, and

regarding business support, we have listed only some of the projects that have been launched for this, firstly, everyone knows about this territory of rapid development tors in the far east are developing and operating a free port. vladivostok kuril islands. also received preferences even more than the tori in the mainland of the far east, a special administrative region on russian island was launched in order to attract investments from russian residents from abroad. the arctic zone, which is also located in the far east, is another economic zone and the company there, developing , has its own economic preferences. there is an innovative scientific and technological center, a territory with a unique regime for business development in the far east , and the far eastern training ground is being developed. this is a colossal logistics infrastructure . somehow, in general , a lot was said about this at the forum today and has already been done,

a colossal amount of work is also being done about this , the president also said, today speaking to the public, the dynamics and investments in the far east i want to especially note and emphasize this three times. it is ahead of the all-russian indicator, if from 2014 to 2022 the growth of investment in fixed capital throughout the country amounted to 13%. then in the far east 39%. this is reflected in production volumes and industrial growth rates. in the far east , traces of russian average russia are also exceeded . also, a gas chemical complex is being developed here. the shipyard is the star of the work, the one of which we we all know and the president visited the day before its birthplace of copper, which requires development and development of the developing agricultural sector. uh, also

uh, of course the far east is a place for fishing, but also in general. if we talk about how business influences life in the far east, jobs are certainly created and investments are made in small and medium-sized businesses, thanks to government support for far eastern projects, investment agreements for more than 7 and 70 trillion rubles have been signed, from there are three and four of them tenths of a trillion are already needed; 125,000 jobs have been created; about 700 new enterprises have started operating. and with regards to the prerequisites for business investment and development here in the far east, then, of course, the knowledge of the subsoil. the president said in the far east only 35%. there is room for development; it is necessary to develop energy capacities; it is necessary to connect the gas pipeline of the body of siberia with the gas pipeline sakhalin khabarovsk vladivostok for

fuel delivery. uh, in the region, gasification is the cornerstone of business development in the far east and the president during speeches, he again gave a number of instructions. i ask the government, together with our large energy companies and the business community, to prepare a program for the development of energy capacities in the far east, it should be designed for the long term until 2050 in order to maximize the economic opportunities of our far eastern territories. i also ask the government to develop mechanisms for project financing of this strategic program. the pacific railway is also being built

and the bama and trans-siberian railways are being modernized in in the thirtieth year, we expect to double the total capacity of the sea ports of the arctic basin; if last year it was 123 million tons, then by the end of the decade it should reach the level of 252 million tons, including through the construction of new terminals; expansion of railway approaches is planned by 2027 significantly increase power. the president also called on businesses to connect to large infrastructure, including logistics projects through a constitutional agreement; moreover, he made it clear that the state sees where some investments are going, namely abroad, and still called on businesses to invest. here in russia , with regards to the population, a single far eastern airline has launched tickets for flights that are subsidized, and the far eastern dictatorship. more than 10,000 people received it. putin proposed increasing the far eastern mortgage by 2%, improving its conditions and increasing the amount to 9 million rubles.

let's listen. i would like to note that in the far east special conditions have been offered for mortgages of up to 6 million rubles. duration up to 20 years rate 2%. using this tool more than 78.000. families who have already purchased or built new housing, i propose to adjust the parameters. far eastern mortgages will increase its attractiveness. yesterday my colleagues and i also talked about this, namely to raise the upper limit of the loan to nine million rubles for those who want to purchase their own home with an area of ​​60 m². well, i’ll just say briefly about a couple of statements that vladimir putin made in particular. he doesn't see the need to raise taxes and in general he said what he said. the situation is manageable with currency, which served to strengthen the strengthening of the ruble colleagues, artyom

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get a debit card for life. we continue to work here at the eastern economic forum in our studio, head of vtb andrey kostin andrey leonidovich hello, you just listened to the plenary session , listened to the speech of vladimir putin , the discussion, the president began his speech with that he said that the development of the far east is a priority for the entire 21st century

, indeed, throughout the last decades , the main business, the main capital, the main development took place in the center, probably in moscow and the moscow region, a little in st. petersburg. can we now say that the priority has really shifted to the far east, that big business has come here, major infrastructure projects, this concert? i was probably lucky, because i headed, as it were, the business section of the hmm asian pacific forum, which appeared here in 2012. and where 21 leaders of the state were present, they gathered and vladimirovich was the host. the main thing here was and then there was a group of russian representatives in the conversation , when vladimir said, you know, we need to deal with it harshly, the far east is the territory of our country that simply requires primary attention. here are all the subsequent years. actually. today was absolutely a kind of anniversary, because 10 years ago it was in the thirteenth year that state decisions were made that

then and uh, were developed, including through the holding of forums, which were for the eighth time. forms are already being carried out here. each time, of course, gives new impetus to the development of the president’s speech and a large number of businessmen from all over the country are present. needless to say, i have to say that the results are very impressive, because the far east is developing faster even than in the country as a whole and many, and the growth or increases in production according to a number of authorities. today he called and said that this is not interest. this is already true in 10 years. eh, the far east has changed a lot and now i can even talk to our businessmen. this is where a lot of people came. a lot of them flew in from moscow. some from urup, some from sakhalin , everywhere, they say we will build airport hotels. now new ones have been commissioned in sakhalin, and so on and so forth , there is a lot of development going on in kamchatka, too, there is huge interest in the region and this is really one of the most promising regions of russia today, but

this is understandable about these huge resources and hmm and animals of nature and on the other hand. today he became president. only about a third of the resources on which the lands are located have been explored, which is still a lot, and the far east can provide, of course, from the point of view of the country’s economy, and therefore i am sure that what the president said today is not just a beautiful phrase. this is how it will be and will be focused here. there is huge interest today. moreover, business today focuses on its own country. there are investments in russia and there is something to invest, not only where. and well, and what the president is investing, and at the same time proposed expanding the far eastern mortgage program to 9 million, increasing rubles and extending it to all employees, not just teachers and doctors for now. how do you assess the overall development of far eastern mortgages, including vtb and these changes, will they lead to greater issuance? we are participating, by the way, in

far eastern mortgages one of the leaders here is very much and if not the leader in general, then, of course, this is important . and to highlight such individual social groups are also important; they create priorities there additional, of course. uh, extra motivation for people to come here. in general, it seems to me, my own housing. this is probably the first human need and helping with this, of course, is very important. moreover, now the defense industry workers who work for 200% of everyone, of course. it is necessary to encourage in this body to stimulate this will require a slight increase. maybe, uh, to subsidize the rate from the federal budget. but it seems to me that the budget is not so bad this year, especially next year, so i i think we can handle it. in my opinion, is it necessary to do something specifically to hold back the ruble exchange rate, or is this rate still convenient for saving, you know? i keep talking about what we still need to take into account. what situation are we living in now? well, first of all, a special war,

an operation. yes, this is also, well, a big burden, including finances. secondly, this is the colossal volume of sanctions that were applied to our country and, as a result of these sanctions, the need for a huge restructuring. uh, our uh export import flows streams. this means new new routes for the movement of goods. this is a new expense. that is, the situation is absolutely extraordinary. i would say that she is extraordinary and therefore i hope that all this will go very smoothly. we don't have a crisis like that. we don’t have crises like we had in 1998, god forbid, or in 2008, fuck, in 2014 we have acceptable volatility of the national currency, which naturally happens precisely because of the imbalances that arise due to this. in these circumstances, i think that those the measures that were taken, they are already today and they have said everything, it is already clear that the ruble has begun to strengthen, but i think that in such a situation at a certain stage

the interventions that, in general, central ivanov does not begin to do in terms of increasing the sale of currency and possibly taking some administrative measures to increase the sale of composite partners. although, for now. therefore, for now, in my opinion, this is all based on an agreement. they don't even make any decisions. do you agree with the opinion that one of the factors for the weakening of the ruble is absolutely hanging hands, and this was already discussed in the promotion of energy, this was the promotion, in my opinion, of representatives of india today. and you know, this factor takes place, but this factor probably needs take into account and need to develop, of course, e. there is a mechanism for working in national currencies, including, i think, from the indian side. they must, in general, not want hmm to continue to work effectively. they need, of course, to make their currency

convertible. that is, as if you bet more market and so on. yes, but today, uh, there is still a significant volume of trade, especially in energy resources. he 's an idiot in europe, either in currencies or in yuan dirhams, but there are clients who actually have accumulated rupees. they were now the banks had learned to work. that’s why there is a certain overhang, but it, of course, cannot affect the exchange rate of the ruble as a whole. no , we are gradually dealing with this situation, but i repeat. if we want to switch completely, let’s use the calculation of national flights. we still have a lot more effort to do there. in the direction of the central bank, you said today that you do not expect it to change at this next meeting. why aren't you waiting? well , because in recent days the ruble has demonstrated its strengthening. and i think, understanding the consequences of a further increase in rates, which will certainly lead to

a slowdown in the rate of economic growth. and i think the central bank for now and i think they can wait and see. that is , there is some kind of pressure today, in my opinion. no, you can wait and see if the situation continues improve, if they stabilize, they, of course, make the next balls. today , vladimir putin said that the west is destroying the system of financial relations, which it itself had already created in july. you proposed creating a parallel system of settlements and financial market infrastructure, including a replacement for swift. as far as i understand, this system is being developed or has already been developed. who can develop it russia china maybe together hmm russia already has a message transmission system and china has its own system and india has it. before integrating uh, already many are joining. by the way, we have to the russian system. many foreign participants were joined. yes, let’s say there is a complete exchange in this regard, let’s say with

iran, but we, of course, need it. in my opinion, first of all, negotiate with china. eh, to combine them either, or there was some new product that was acceptable to everyone , the task is not technically difficult, it requires a political decision. i think the best place to start is in china. i think this could very well be a little on the agenda of the upcoming during the negotiations that the owner will conduct, he is always very attentive to financial issues. we will ask him to raise this topic in october too. putin advised businessmen not to step on the rake and invest capital in russia, we know that they were giving in to politicization. what do you think can be invested in in russia now? what sectors? of course, warned businesses before? the famous saying is that guys, give us all the money here, otherwise you will be tired of inviting people. this was said quite a long time ago, not 10 years ago. maybe a little less in such a closed

meeting. ah, chenov bureau rpp ah. you see, this is very important, because, uh, we will definitely step on a rake. if we don’t give russian business the opportunity to invest, it’s still as if the money is going away, and businessmen are already talking. well, maybe then we should put it somewhere in arab countries. that’s where it’s hard to catch china , they’ll start investing somewhere, because these conditions are absolutely necessary here, so privatization is one of the directions, and the second, of course, is participation in new projects. we need to do more too. this is the state church. now no, partnership, of course, and ports and not only we see very large projects. today , in the mining industry, there are new projects in the field of copper production and in about two weeks. we have a whole range and production of conveniences. the genius of gas processing in the far east that is, today there are projects that can be said to be privatization. well, on the one hand, not so many, like objects on the other hand. i

i think that these and other large state-owned companies can sell part of their stake through the spo system, somewhere it’s possible. but i thought there were prospects here, you can leave a golden share, but it’s asking me about the troops now. well, you can’t go into a company and find it 2 weeks after privatization. we first need to sort of weigh this garden and put it in order. yes, and then we can talk about the possibility, at least for the presidency. he does not rule out this possibility. this is not some kind of herd. she just needs time and sell some expedient companies that are good and they get good ideas, here is an opportunity to sell part of the vsk stake yes, yes , first create value, and then sell, so i ’m not even talking about this in the coming year, but there are others, as it were assets we need to look, including large companies from non-core assets hmm, today, damn it, i told you, actually the thesis that we have a very new state in the economy has been somewhat increased and indeed we have, in general, the largest ,

even if we take resource companies, they are in mostly private, although there is a state. there's just oil there and so on. there is also a share. now it's quite big. after all, they were already partially privatized. is it still possible to sell these objects, so privatization? yes, a new project. yes infrastructure. yes, private partnership is enough too, right? so i think this is to make the most of these opportunities that they have today, they said that the company had serious financial problems and very quickly explain in more detail something there because we uh we have how we have now agreed on the primary information , talk to the government, that we will need at least six months, because this is a huge farm there, 40. e enterprises and shipyards, well, there are problems in management , there are problems. eh, in technology there are all sorts of financial problems. they are big, but that’s all,

you can kind of pull it. uh, i think that uh, in general, there is such a thing to set up. eh, a lot of help, there is also the government of the ministry of industry, so we will find investments. i think that’s why it was also partly affected by that, as in others, no, in the regions. for a long time we relied on imports to even buy used ships. our drivers simply rented now geopoliticians require other solutions and therefore, especially in the field of the civilian population, we will, of course, have to practically re-create a lot of things , including the military. the situation there must also be improved, by the way, the most difficult part. uh, shipbuilding, military-military manifestation of crab-building, because there technologies are higher in civil technology a little lower, but they also took us seriously. i think that we can count on the partnership of our and our

partners here in these regions. and here’s more, well, we ourselves will have great scientific potential, work, great work, very interesting, very interesting, so we will study. what is vtb’s development strategy in general in the new current conditions ? pay attention to what you are now betting on, and we have recently seen personnel in their reshuffles. there's a lot going on. where? i think that we will be as much as possible mobilize personnel now. give we, of course , were the number one bank in the field of investment business, of course. we were the leader with a large market share. we are this business to a large extent. a-and lost because it was mainly based on the west-oriented western exchanges. western financial markets. we have had very long partnerships with western banks. this business is gone. a, but on the one hand, we are developing competencies in working on the markets of other countries, and we are, in fact, one

of the main directions. this is just the creation here is a new financial system in new markets. this is china, these are the gulf countries. this is india or latin america , these are the brix countries, and finally, a very significant decision was made at the meeting of the brix leaders that it is necessary to develop the financial sector, the financial market. creation of this unified market. very important. here is the second direction, of course. naturally. this is a retail business that works with the population. and we feel that we are the second bank in terms of the number of clients. we are still perceived more in the market as a corporate bank. at work this is the investment business. here even people say, well, sin appears. he keeps revealing himself, and the host is always talking about new financial markets, he says, i probably need to talk more about retail and do this, of course, the gap between us at the market leader sberbank is very large and we need, of course, to focus here your attention because, well, it's very important. in general, this is probably the most profitable and also the most

interesting sector for us today. banking banking idea. thank you very much for this interview. i remind you that we talked with the head of vtb andrey kostin, i return

the floor to you. we are now returning again to the events of the day of the eastern economic forum. hello dear friends. hello ladies and gentlemen, we operate in vladivostok, far eastern federal district, the capital of the far eastern federal district. this is 60 minutes with the support of web.rf, how to attract international investment ideas, technology companies

, specialists in this huge region? it seemed if we were here, we have everything, gas reserves alone