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Wednesday, February 21, 2024

Russia. Vladimir Putin spoke to entrepreneurs, he wants them to invest in the country

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A responsible entrepreneur is a true Russian citizen who acts in the country’s interest, said President Vladimir Putin, quoted by Reuters, at a meeting with the richest Russians. – He does not hide his assets abroad, but registers companies here in our country and does not become dependent on foreign authorities – he added. He said that business representatives must think more about the needs of the country and less about their own profits.

President Vladimir Putin he addressed the business elite personally Russia during the 17th Congress of the Russian Union of Industrialists and Entrepreneurs and pointed out that their role is not only to earn money, but to support society. “A responsible entrepreneur is a real Russian citizen who acts in the country’s interest,” Putin explained.

He added: “he does not hide his assets abroad, but registers companies here in our country and does not become dependent on foreign authorities.” He pointed out that the mission of entrepreneurs is also to create a public good.

Russian President Vladimir Putin speaks at the 17th Congress of the Russian Union of Industrialists and EntrepreneursPAP/EPA/MIKHAIL METZEL/SPUTNIK/KREMLIN POOL

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Putin Speaks To Billionaires: They Must Think About The Needs Of The Country

Billionaires were present at the meeting. Among others, Oleg Deripaska, Vladimir Potanin, Alexei Mordashov, Viktor Vekselberg, Viktor Rashnikov, Andrey Melnichenko, whose interests range from metals and banking to the production of fertilizers.

Oleg DeripaskaShutterstock

Putin stressed that he wanted to hear their views on how to build a more dynamic economy that would lead to “a noticeable improvement in the quality of life for people across the country.”

Although he was greeted with a standing ovation, he told the richest people in Russia that they must think more about the needs of the country and less about their own income.

Putin on sanctions

Many oligarchs after the start of Russian aggression on Ukraine was sanctioned by the West, which Putin used as an argument that investing in the country is safer.

He assessed that the sanctions are an attempt to destroy the Russian economy and noted that the country cannot afford to sit on its hands. – I’m begging you not to wait. We need to act now, he said.

Vladimir Putin spoke to businessmenEPA/MIKHAIL METZEL/SPUTNIK/KREMLIN POOL MANDATOR

Extraordinary profit tax

The Russian government in the face of rising budget deficit plans to collect about 300 billion rubles ($3.9 billion) in windfall profits tax, though oil, gas and coal companies will not be affected.

Finance Minister Anton Siluanov said the windfall profit tax would be set at around 5% of GDP, TASS reported. It will come into force from 2024, but the finance ministry expects companies to make payments this year as well.

Russia is hoping for economic growth in 2023, after a 2.1 percent decline in 2023. in 2022. Economy Minister Maxim Reshetnikov said that GDP and investments would increase this year, but refrained from giving estimates. The economy proved resilient to sanctions last year, but is returning to pre-existing levels of prosperity war in Ukraine it may be far off as more government spending is directed towards the military. Factories work around the clock producing weapons and ammunition.

Read also: Old cards, phone troubles, technological brain drain. This is the effect of sanctions

Main photo source: EPA/MIKHAIL METZEL/SPUTNIK/KREMLIN POOL MANDATOR



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