All news

Putin advises businesses to invest in Russia, not to keep money in ‘safe havens’ abroad

As he stressed, the Russian authorities will do everything to create stable, reliable conditions for investment, as well as to make the appropriate investment support instruments work in the most efficient way

NOVO-OGAREVO, March 11. /TASS/. Businesses are free to make their own investment decisions, but it is better to invest at home, in Russia, rather than keeping money in "safe havens" abroad, Russian President Vladimir Putin said on Thursday.

"Of course, heads of companies, shareholders must make decisions related to investment activity and investment plans themselves. But, bearing in mind that we work in conditions of great uncertainty and a large number of uncertainty factors, I repeat it - it is [you] who decide [where to invest ], but better to do it at home. It is calmer and safer here," the head of state addressed businessmen during a meeting on measures to increase investment activity.

Putin noted that the government should create such conditions when it becomes more effective to direct funds to business development within the Russian Federation, and not to pay dividends or distribute them, albeit legally, but "somewhere out there, in "safe havens."

"But they [havens] are safe today, and what will happen tomorrow - we do not know, bearing in mind these factors of uncertainty," the head of state said.

As Putin stressed, the Russian authorities will do everything to create stable, reliable conditions for investment, as well as to make the appropriate investment support instruments work in the most efficient way.

In particular, the head of state instructed the government to take into consideration the ideas of business representatives voiced at the meeting and "together with business associations to work out proposals within the framework of tax legislation.".