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Putin admitted insufficient guarantees of private property protection


Vladimir Putin spoke at Delovaya Rossiya (Business Russia) forum in Moscow, presidential web page reported.

In his speech, the President stressed the need “to consistently remove barriers and expand entrepreneurial freedoms. The quality of our business climate must be commensurate with the scale of the goals facing Russia. It is the flaws in the national jurisdiction and the insufficient guarantees of private property protection that have forced many business owners to register their assets abroad and to export these assets.”

“We have announced an amnesty of capital. Moreover, individuals are exempt from liability for certain offences under economic, currency and tax legislation,” he said, noting “We need additional measures to build a competitive environment, create favorable conditions for opening and modernizing enterprises, boosting labor productivity, which would increase tax returns.”

According to the President, “We must improve legal protection of intellectual property, and create attractive conditions for the registration of patents.”

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