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Putin Attempts to Ease Investor Jitters

Published: May 28, 2014 (Issue # 1813)



  • President Putin addresses a plenary session at the economic forum on May 23.
    Photo: Mikhail Klimentyev / AP

President Vladimir Putin attempted to reassure global business leaders jittery over the U.S.-led sanctions campaign against Russia to stay in the country as he met with them at St. Petersburg International Economic Forum on May 23.

Think of the benefits of working in Russia, dont give in to pressure and blackmail, and we will help you, Putin said at the 18th annual gathering, which saw a severely diminished showing by U.S. executives. Many of them ducked the forum at the request of Barack Obamas administration, which is intent on punishing the Kremlin for its alleged meddling in the Ukraine conflict.

Putin, acknowledging that Russias economic growth can no longer be driven by energy exports, outlined his strategy for the structural reform of the economy on May 23, focusing on massive infrastructure projects, the enhancement of human capital and financial and regulatory support of business by the state.

Lambasting the West, and primarily the United States, for disrespecting Russias interests and snubbing Moscows attempts to engage in a dialogue was another leitmotiv of Putins 40-minute speech and the hour-long question and answer session that followed it.

Putin also downplayed the effect of the economic sanctions on Russias economy, saying they mainly target his personal friends, and these had been shrewd enough businessmen to transfer their assets home in good time.

Reform Roadmap

The Kremlins plan to revive the Russian economy, as presented by Putin on May 23, sees non-energy exports growing by 6 percent each year, substituting imported goods with domestic products, stimulating investment into modernization projects, improving professional education and easing labor market mobility.

I will also send to parliament a package of bills aiming to ease procedures for registration of companies, getting licenses, customs procedures all initially expected to pass in 2018 by the end of this year, Putin said.

He added that he will push for the dissemination of best practices accumulated by Russian regions in dealing with investors in other regions. On May 23, the Agency for Strategic Initiatives, an official innovation institute, released Russias first regional investment rating, based on accounts of investors. Kaluga region, Ulyanovsk region, Krasnoyarsk region and the Republic of Tatarstan topped the list of most investor-friendly regions.

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ALL ABOUT TOWN

Thursday, Dec. 18


Improve your English and knowledge of British culture during todays FORM lesson at the British Book Center. These free English lessons with a native speaker elaborate not only on grammar particulars but cultural topics as well. Todays event will discuss the BBC Two documentary Victorian Farm Christmas.



Friday, Dec. 19


Test your mastery of parlor games during Game Evening at the British Book Center. Learn how to play a variety of classic, mentally challenging games and use your newly acquired skills to crush weaker opponents. The event beings at 5 p.m.



Saturday, Dec. 20


The citys Babushkina Park on Prospekt Obukhovskoy Oborony will be invaded by dozens of rocking-and-rolling Santa Clauses during todays Santa Claus Parade. Not only will they parade through the park but there will also be competitions amongst the festively-clad participants and a musical master class. There will also be a prize for the best-dressed Santa Claus.


Stock up your record collection during the Vinyl Christmas Sale at the KL10TCH bar on Konyushennaya ploschad today. Spend the afternoon perusing the records for sale while listening the classic, clean sound of records spinning out hits from a variety of musical genres and time periods.



Sunday, Dec. 21


TheZenit St. Petersburg basketball team returns to the northern capital this evening for a matchup with Krasny Oktyabr, a Volgograd-based basketball club. Tickets for the game, which tips off at 6 p.m. this evening, can be purchased on the clubs website or at their arena, Sibur Arena, on Krestovsky island.


Satisfy your sugar cravings during Sweet New Year, an ongoing seasonal festival at the Raduga shopping center. Each weekend of December will welcome hungry visitors to taste hundreds of different kinds of desserts made from a plethora of sweet treats. Workshops are open to visitors and seasonal gifts can also be purchased for those rushing to finish their New Year shopping.



Monday, Dec. 22


Pick out the latest fashions as holiday gifts for loved ones or as early presents for yourself during the Christmas Design Sale at Kraft on Obvodny Kanal, starting on Dec. 20 and continuing through Dec. 27. Designer clothes will be on sale every day of the week or you can buy something more festive to decorate the home while sipping on hot coffee and perusing the various master classes.



Tuesday, Dec. 23


Meet Arctic explorers Fedor Konukhov and Viktor Simonov during SPIBAs and Capital Legal Services event Arctic Expedition this morning in the Mertens House business center at 21 Nevsky Prospekt. The meeting will discuss the explorers ongoing eco-social project and how companies can use the project as a unique marketing opportunity. Email office@spiba.ru by Dec. 22 if you wish to attend.



To have your event included in All About Town, email tot@sptimes.ru



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