Anton Siluanov, head of the Ministry of Finance, addressed the State Council Economic and Finance Commission and urged regional leaders to study proven investment-boosting practices from other areas. His message was clear: analyze what works, adapt it locally, and move away from waiting for subsidies. Reports from TASS summarize his stance on accelerating regional development through proactive measures rather than relying on federal support alone.
The minister noted that some regions face real economic headwinds. While a number of governors roam the country and even travel abroad to attract investment, others appear passive, hoping for subsidies to come from above rather than pursuing tangible, self-sustaining growth. This contrast, he implied, jeopardizes long-term prosperity and competitiveness on the national stage.
Siluanov called for a deliberate expansion of best practices from the most successful regions. He urged authorities to study, tailor, and implement these approaches broadly, emphasizing that the goal is a resilient economy built on local initiatives, strong governance, and private-sector partnerships. He underscored that sustainable growth cannot hinge on subsidies alone and that every region should cultivate an investment-friendly environment.
To achieve this, the minister stressed the importance of improving regulatory clarity, streamlining administrative processes, and creating predictable fiscal frameworks that give investors confidence. He urged regional administrations to prioritize infrastructure upgrades, workforce development, and targeted incentives that align with the long-term needs of dynamic industries such as manufacturing, logistics, and technology services. The emphasis was on practical, investable projects that deliver measurable outcomes for local communities.
In this context, public finance must be directed toward creating durable value: improved transportation corridors, digital connectivity, and energy efficiency initiatives that reduce costs for businesses and raise regional productivity. The approach, as articulated by the ministry, involves stronger collaboration with private partners, clearer investment rules, and transparent budgeting that demonstrates accountability to residents and investors alike.
Media coverage around this topic noted that the budget for 2022 saw a marked increase in expenditures, reflecting a broader push to fund development programs and stimulate economic activity. The discussion, while focusing on immediate funding needs, also highlighted the necessity of future-proofing regions against market fluctuations by diversifying economic bases and encouraging innovation. The overarching message remains: invest in the core capabilities of each region, learn from the most effective implementations, and reduce dependence on external subsidies through disciplined governance and strategic planning.