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MIL OSI Translation. Region: Russian Federation –

Deputy Prime Minister Marat Khusnullin said that the Prime Minister decided to transfer the Federal Targeted Investment Program to the status of a comprehensive program and appoint the Ministry of Construction responsible for its preparation.

“This decision was made to improve the management of capital investments and optimize their life cycle – from the decision to implement the project to its commissioning,” he explained. Marat Khusnullin recalled that today the Ministry of Construction is implementing the government initiative for socio-economic development until 2030 “The New Rhythm of Construction”, which is aimed at reducing the investment and construction cycle and reducing administrative barriers. “The transfer of the Federal Targeted Investment Program to the Ministry of Construction provides conditions for systematic and efficient work in the construction of capital construction projects,” the Deputy Prime Minister said.

He also said that by decision of the Government, the presidium (headquarters) of the Government Commission for Regional Development in the Russian Federation is vested with the powers of the management body of the new comprehensive program, which will be approved for a period of five years starting from 2023. The Ministry of Construction has already begun work aimed at its formation, and is preparing the necessary regulatory documents.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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