Putin and Dmirtriyev focused on the recently launched Direct Investment Fund and VEB’s support for domestic exports. The prime minister was also interested in the bank’s relations with foreign investment funds.

The officials discussed the implementation of measures to improve the shipping of agricultural produce from several Russian regions. Vladimir Putin also drew the minister’s attention to the need for continued support of major agricultural programmes in the regions.

The conversation focused on housing construction, local programmes to modernise healthcare and secondary education, and raising teachers’ salaries.

The two officials discussed Dagestan’s socio-economic performance this year, focusing on agriculture and the social sphere, where the biggest problem is a shortage of childcare centres. The Dagestani leader also reported on key investment projects.

“Entrepreneurs, investors and regular citizens who act in good faith and abide by the law must feel that their rights and interests are being protected. And money launderers, fly-by-night businesses and shady lending institutions should be consistently eliminated from the business environment.”

“Within the next few years we will have to fundamentally change our economy. These are not our ambitions, nor a slogan, but the requirements of the day. This is a challenge that faces the entire world in general, and Russia in particular. Only an efficient, competitive economy with a powerful industrial and technological base will allow us to feel confident in the constantly developing world…”

During the meeting, Messrs Putin and Khoroshavin focused on the region’s fulfilment of the prime minister’s instructions, such as raising teacher pay and using gas more efficiently in the Sakhalin-1 project. The prime minister asked the governor to settle the region’s wage arrears.

At the meeting, Mr Putin said he was sure that Walt Disney’s deal with the Russian group 7 TV would set “a positive precedent on the Russian media market.” Mr Iger, for his part, said that this was an exciting new project for his company, as well as a good investment.

“Today we must make a decision on allocating over 15 billion roubles to 60 regions for an inflation-based salary adjustment. In addition, part of these funds will be used to reimburse some territories in the Far North and in the Far East for fuel and electricity expenses. There is also a proposal to channel an additional 7.2 billion roubles into priority projects in the regions, including housing, roads, sport and social facilities and so on.”