13 December 2012, Thursday, 16:36

Vladimir Putin: «Fair competition is necessary for quality economy modernization»

author: Luboth Kolokolova

The Vladimir Putin’s Address to the Federal Assembly on December 12, included many important theses on improvement of business climate in the country.

The President confirmed that creation and modernisation of 25 million workplaces by 2020 was a basis of new economic course.

Thus the President distinctly designated the main risk of the Russian economy — «dependence on the raw markets of other countries». Putin urged to restructure the raw-based economic model saying that «interests of Russia’s development demand annual growth not less than 5-6 percent of gross national product during the next decade».

That is especially important: «In the centre of new model of growth there should be economic freedom, private property and competition, modern market economy, instead of the state capitalism».

Vladimir Putin directly demanded fr om law enforcement bodies and courts to refuse from practice of "guilt presumption of businessmen». The head of the state thanked the deputies who developed the amendments to the Criminal Code according to which it is impossible to initiate cases under economic articles and Article 159  of the Criminal Code "Fraud" in absentia of victims.

The President paid attention to the reasons of capitals fleeing to offshore economy due to deficiencies of the Russian jurisdiction, and he urged to liquidate drawbacks of the Russian legislation, to reconsider completely the state approach to rulemaking and law enforcement, to work over the matter on creation of arbitration courts and special courts wh ere claims against the state structures could be considered.

Vladimir Putin stressed the fact of shortage of cheap and "long" money for economy crediting, necessity of further inflation decrease, occurrence of competitive banking rates. Actually the President suggested starting to change the monetary policy of the Government towards greater investments into domestic economy.

«Our state savings should work in the country and for the country», Vladimir Putin declared, having noted that the means of the National Wealth Fund practically were not invested so far into development. He marked that following the results of the current year the Reserve Fund and National Wealth Fund together will make about 9 percent of gross national product. Therefore the President offered since 2013, after creation of the corresponding managing structure, (the initial sum — up to 100 billion roubles) to invest a part of means of the National Wealth Fund into the Russian securities which will be connected with infrastructural projects. «Competitiveness of all key factors of business in Russia — from accessible credits and stimulating taxes to convenient administrative procedures and low inflation should become a core of our economic policy. It is practically direct way to our economy modernisation, to going from raw materials-oriented economy», the President declared.

As chief executive of the Branch Regional Department «Business Russia» Albert Garipov marked the theses sounded by the President of Russia in his annual Address, will be employed in all divisions of the regional organisation.