"The Deck is Being Reshuffled" - President Putin Predicts Shift in the World-Wide Economy
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Dmitry Kaistro with the details.
Putin's speech at the meeting of the Russian Union of Industrialists and Entrepreneurs has become a tradition. He started with the latest decisions aimed to support the development of our business. The Head of State reminded that today, after its third reading, the State Duma adopted a set of laws providing the extension of capital amnesty until February 28, 2019.
Vladimir Putin: "I won't conceal a well-known fact: we've consulted some international financial organizations. They understand and support our decision. I expect this step towards Russian business will make it more stable and create new opportunities for those who want to work in Russia in an honest, civilized, and fair way, creating new enterprises and workplaces here".
Recently, Putin met the representatives of major French companies. They were discussing the development of bilateral business relations. Europeans want to work in the Russian market with Russian business. But common interests get increasingly hampered by the sanctions.
Vladimir Putin: "It's a dead end that makes everybody, including the initiators of such policy, to lose money and opportunities. Talking to your foreign colleagues, I realized that they shared my point of view. We've always suffered from restrictive policies aimed against us. The Jackson–Vanik amendment was abolished, and on the same day they adopted the Magnitsky Act without any basis for it. It happened long before the events in Ukraine and Crimea. Just because they want to work with us this way".
Putin reminded that new technologies are seriously changing the economic landscape.
Vladimir Putin: "The deck is being reshuffled, if I might say so. Today, new markets for goods and services are forming. New leaders will appear. It's obvious that there will be more competition. Nobody will go easy on their competitors in the context of a global economy. Every form of pressure and competitive practices might be used. Obviously, the sanction challenge is not related to the market and is there to stay. I still hope that common sense will prevail and, together with all our partners, we'll move in the necessary direction benefiting the global economy".
The leaders of the Russian Union of Industrialists and Entrepreneurs said they were ready to cooperate with the government to carry out their medium-term plans.
The meeting of the Russian Union of Industrialists and Entrepreneurs is held within the framework of the Russian Business Week. The key issues on the agenda include the reduction of tariff barriers, optimization of state control, and the development of a competitive environment. The excessive number of control and supervisory procedures is one of the most tangible problems faced by entrepreneurs.
Alexander Shokhin, president of RUIE: "It's not like we're against it because public interests must be protected and the citizens must feel secure. But sometimes, one has to create whole delegations to talk to the supervisors. You see one supervisor off and here comes another. There's no space to work. As a result, we have a large shadow sector of the Russian economy. We need to shed light on it".
One of the most vividly discussed topics was the liberalization of foreign exchange regulation.
Anton Siluanov, Minister of Finance: "Our decisions to simplify registration, to simplify the currency legislation, and to abolish the sale of foreign exchange earnings are aimed at luring business back to Russia".
The concerns of the Russian business are discussed on the sidelines. Oilmen are discussing work in the new business and natural climate.
Alexander Dyukov, CEO Gazprom Neft: "Our company has demonstrated its ability to work under any climate, even in the Arctic. As you know, we're working on three large and complicated arctic projects. Frankly speaking, I believe the climate is comfortable enough for us to work. The results of our work prove my point".