Russian President Vladimir Putin answers questions at a press conference on June 5, 2024, in St. Petersburg, ahead of the 27th SPIEF. (Photo: AA/VNA)

"We have set a goal to enter the top four largest economies in the world”, Putin said. To achieve this, Russia “plans to join the top ten of global leaders by the volume of scientific research and development over six years”, conduct digital platform revolution, and increase labor productivity, the president said. 

By 2030, Russia’s national project on labor efficiency will cover at least 40% of large and mid-sized enterprises. Russia will also improve the quality of its labor market, standardize investment, and improve its tax system. 

President Putin also set the goal of reducing the share of imports to 17% of GDP by 2030, down from 19% in 2023.

In terms of international trade, Russia will continue to improve the safety and efficiency of transactions in domestic currency, including through BRICS  group of emerging economies, he said.

The country also plans to build and renovate transcontinental transport routes towards the East, while inviting interested countries to participate in development of the North-South international transport corridor.