Overcoming the COVID-19 Crisis: Reindustrialization of Modern Russia

- to form a strategy for the integration of the economies of the CIS countries to increase the competitiveness of the economies of all participants in this integration. The union of the countries of the Shanghai Cooperation Organization (SCO) can be taken as a basis. At the same time, it is necessary to consider the creation of stable technological chains of the type that existed in the Soviet period. To develop a concept and institutional framework for investment of enterprises of these technological chains by the Russian state and business in such a way that these investments bring effect primarily to Russia, and are included in the complex of ensuring the national security of the Russian Federation;

- to form an effective system of stimulating real production based on the optimization of taxation and the development of public investment projects for the production of real products of advanced scientific and technical level;

- to create a logistics system for the supply of domestic products or products of the alliance formed on the basis of the SCO (hereinafter the alliance – the authors) to each other and to other countries. Moreover, this logistics system should also include commodity flows of electricity, hydrocarbons, etc. For example, electricity supplies from Tajik hydroelectric power plants to Afghanistan and Pakistan;

- to define the concept of ownership of production capacities of the real sector of the economy by the Russian state and business, both on the territory of Russia and on the territories of the alliance countries, taking into account the unconditional priority of Russia's economic security;

- to develop and use a system to stimulate the development of the real sector of the Russian economy across the entire spectrum of factors of such stimulation, including reducing the refinancing rate of the Russian Central Bank and creating conditions for long-term investment of production projects;

- to create a system for the development and use of Russia's innovative potential, including in its regions. As one of the most important elements of such a system, to create a network of innovative banks as mechanisms for the accumulation of intangible assets, information and financial support for entrepreneurs in the implementation of capital investments of advanced technical level;

- to create a system of regulation of inflationary processes in the whole country, taking into account the involvement of financial market mechanisms with a clear definition of thresholds for financial warming up and stabilization of business activity in the development of the real sector of the economy.

Of course, the proposed set of recommendations is very voluminous. But this is as it should be, since it concerns, as already noted, the regulation of tectonic processes, whose development has already been caused by the current COVID-19 crisis. And this crisis should be used as a contributing factor that will make it easy to abandon the old obsolete and move to a new progressive – a production concept that, as has happened many times, will create conditions for our country in which we benefit.