MOSCOW, February 6 (RIA Novosti) - President Putin has called on the Russian Union of Industrialists and Entrepreneurs to help wean the country off its oil dependence by increasing the output of value-added products, the Kremlin press service said Tuesday.
"It is essential not only to export crude oil, natural gas, iron ore and timber at a profit - it is also necessary to process natural resources within the country and enter foreign markets with high-tech, high-value products," Vladimir Putin said.
"Russia should be getting much more from developing its truly enormous mineral reserves," he said, adding that more jobs should also be created nationwide.
He also said Russian businesses have strengthened their positions and now possess sufficient resources for large-scale investment both at home and abroad.
Putin also urged businesses to play a more active role in modernizing industry, implementing infrastructure projects and developing state financial institutions.
"We need new manufacturing enterprises in the petrochemical, timber, coal and mining industries," Putin said.
The president said the state and the business community should pool their efforts to implement infrastructure projects, particularly in the energy sector.
He said the Russian government will soon draft a scheme for distributing new electric power assets.
"Businesses should get closely involved in drafting it," he said.
The president said the state has offered businesses a wide range of development institutions, in particular the resources of the Investment Fund and the Venture Fund.
However, Putin said that "so far, all these instruments have not been used adequately and effectively enough."
Putin said he hoped that Russian business successes in foreign markets would positively influence the development of Russia's economy.
"We are supporting and will support your quest for market development, but hope it will also be implemented on our territory," he said.
He urged businessmen to give up the term "market expansion" in order not to frighten foreign partners.
The president said Russian investments in foreign countries were significantly smaller than foreign investments in Russia, and that the issued was "very politicized."
Industry and Energy Minister Viktor Khristenko said after the meeting that it had covered macroeconomic, tax and customs issues, a number of branches, in particular, timber industry, and major projects, which required the joint efforts of the state and business.
"The macroeconomic stability we have achieved demands proper regulation to ensure the development of investment in the economy," he said.
Alexander Shokhin, the head of the Russian Union of Industrialists and Entrepreneurs who also attended the meeting, said Russia's transition to an innovation economy could require from seven to 10 years and at least $100 billion.
"The discussion was concrete and at issue were the sums and terms needed for the project's implementation," Alexander Shokhin said.
