MOSCOW: A new spiral of economic rivalry is widening across the globe and the Russian business should be ready to it and much has to be done...
MOSCOW: A new spiral of economic rivalry is widening across the globe and the Russian business should be ready to it and much has to be done for the national economy to become a safe haven, Russian President Vladimir Putin said at the congress of the Russian Union of Industrialists and Entrepreneurs.
TASS collects key statements of the head of state.
Sanctions
The Russian business has learned how to work in the environment of sanctions. Entrepreneurs adapted to them, designed and launched alternative mechanisms of cooperation with foreign partners.
Sanctions should not be perceived as temporary measures. The competitors will always have the aspiration to restrain our country, "to weaken its economic and technological capabilities."
The West will find a different way "to put spokes into wheels" even in case of softening of anti-Russian restrictions. More sanctions were introduced against Russia than against any other countries of the world. "The Finance Ministry counted and I can confidently tell you" 28,595 sanctions against individuals and legal entities," the Russian leader said.
Economic cooperation
The full liberty of global trade should not be expected, "it will not be as it has been before." Western mechanisms for protection of rights of investors and businessmen cannot be relied upon
Sovereignty
Only fully sovereign countries are capable of dynamic and progressive growth in interests of their people. The majority of European countries lost their sovereignty and faced serious problems in the economy and the security sphere as a result.
Rich countries started thinking of what will be with their reserve funds kept in Western nations. Civilized legal forms exist in the West "only for itself."
Russian economy and inflation
The cooldown of the national economy is inevitable but it should be slow. The Russian economy should become a "safe haven." A dramatic decline in growth rates of the national economy should be prevented.
There is a need to restrain inflation and provide for a low unemployment rate in Russia.
Return of foreign companies
The Russian business skillfully used the exit of Western companies and took the niches earlier held by them.
Some Western companies want to return to Russia but interests of national companies will have the priority. A number of Western companies continued working in Russia under different brands and they will be treated with respect.
The Russian government should keep a close eye on transactions on the return of Western companies that had 'slammed the door' when leaving. The Cabinet was tasked to develop a procedure for the return of the Western business with the guarantee of fair commercial operations.
The Western business will not be able to repurchase their Russian operations for modest money amounts. The train is off' for Western companies, whose niches were occupied. There will be no privileges and preferences for the ones returning.
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