The President pointed to the “reliability” of investing in business development in Russia

Entrepreneurs and businessmen need to focus on investing in the development of Russian business, in which case they will be in a safe place. This was stated by Russian President Vladimir Putin during his speech at the plenary session SPIEF.

“We need to focus on investing money here. Then they will be both more reliable and more active in the country, the economy, the social sphere, and for our citizens. <...> Reliability is higher,” he said.

Putin also called unacceptable the situation when funds are earned in Russia and then deposited in foreign accounts. According to the head of state, this situation carries risks not only for the Russian economy, but also for the business itself. Putin recalled the situation when many entrepreneurs who kept funds in foreign banks found that their accounts were blocked. “Robbery: they just closed it, took it away and don’t even explain why. They don’t even want to talk. Surprisingly simple. Some kind of Middle Ages,” Putin added.

The head of state noted that many companies owned by Russian citizens abroad want to return to Russian jurisdiction. To this end, two administrative districts have been launched in Russia – in the Primorsky Territory and the Kaliningrad Region. “Here, companies can protect their assets, maintain their usual corporate governance system, and take advantage of a number of tax preferences,” Putin added.

With a call to invest in Russia, Putin has spoken before. In particular, on February 21, during a message to the Federal Assembly, the head of state saidthat one should not cling to the past and try to sue something abroad, and called on entrepreneurs to invest in Russia.