Putin: responsible business does not hide assets offshore

Responsible business does not hide the funds received offshore, but registers companies in Russia and invests in the construction of social facilities and infrastructure, thereby making “everyone’s life better.” This was stated by Russian President Vladimir Putin during his speech at the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP).

“The state will certainly support responsible business in every possible way – those who are ready to fight for their business, and for the well-being of their people, the teams that work for you, for the well-being of all citizens of Russia,” emphasized He.

Putin specified that companies that aim for “stable development for many years to come” and that invest resources in creating their own technologies and brands “should and will be supported.”

The President noted that Russia is “the basis of our existence and the future of our families and our children.” According to him, only with this understanding, entrepreneurs will be able to fully realize themselves. He said that he had repeatedly heard the opinion from Russian business that it was “more reliable” abroad. “And now?” the head of state asked rhetorically.

During his address to the Federal Assembly on February 21, Putin instructed prepare additional measures to deoffshorize the economy. He called the work of business in key sectors in the Russian jurisdiction the basic principle. At the same time, the president urged businessmen to work for the country and “invest in Russia” and not “cling to the past” and “run with outstretched hands.”