Putin told foreign businesses about advantages of the Russian economy

The President Of Russia Vladimir Putin

Photo: RIA Novosti

Vladimir Putin at the SPIEF-2016 has met with foreign investors. He said that Russia’s economy has adapted to new realities and were able to obtain competitive advantages thanks to the flexible exchange rate

The President of Russia Vladimir Putin met with leading representatives of the international investment community in the framework of St. Petersburg international economic forum.

“The economy has adapted to the new conditions. Moreover, a competitive advantage for the introduction of a flexible national currency rate”, — Putin said (quoted by “RIA Novosti”).

The head of state of stressed that the Russian economy has almost overcome the recession and created the conditions for its exit on a trajectory of growth. “We almost overcame the recession, created the basic conditions for entering the path of growth, managed to ensure macroeconomic stability, significantly reduced inflation,” — said Putin.

He also stressed that Russia will not impose restrictions on the movement of capital. “Despite difficulties, we did not impose restrictions on the movement of capital. And I want to emphasize that we are not going to do it,” he said, adding that the Russian market remains the most open of the emerging markets.

The head of state of also said that Russia is interested in getting together with foreign capital in the country was implemented and new technologies. “In the framework of import substitution programs we create in Russia strong businesses able to compete successfully in foreign markets. To boost their efficiency, we intend to conduct a serious technological renewal and therefore are interested in that along with capital came to us, and modern technologies,” Putin said, stressing that this process should be mutually beneficial.

“That’s why we offer convenient tools, one of them is a special investment contract, under which the investors secured commitments to raise the technological level, the localization of production in Russia to increase exports of any product”, — he said. Instead, according to the President, provide long-term guarantees, indemnities and other preferences.

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