Putin wants businessmen to look beyond the domestic market

President Putin made the comments during a video conference with businesspeople. He said authorities would continue to work to reduce the administrative burden faced by local businesses.

The government has carried out an assessment of the impact of the regulations on the work of companies and organizations, cut down on the number of inspections, and simplified reporting and submission of other mandatory information, Mr. Putin added.

The Russian President pledged to continue direct dialogue with the business community to adopt policies in line with their interests.

Mr Putin also said Russia would not reward companies that leave the country with excess capital. The new rules require departing foreign companies to sell their assets in Russia at a 50% discount and make a mandatory contribution to the Russian budget of at least 10% of half their market value.

“We will not let them have any excess capital,” he said, adding that Russia would behave much more civilized than countries imposing restrictions. “Of course, we must and will defend our interests,” he added.

Phuong Anh (Source: RT)

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