With Russia’s investment potential in focus at VTB Capital International Investment Forum 'Russia Calling', Prime Minister Putin and Presidential aide Arkady Dvorkovich spoke about building a better investment profile.
Russian Prime Minister Vladimir Putin emphasised that tax incentives to promote investment would soon be in place.
“We are not cutting tax incentives but broadening them – to encourage investment in modernizing the economy.
Within days we’ll introduce a draft law to the state Duma to release investors from income tax when they sell shares – so long as they have owned them for more than 5 years and the equities are not traded on stock exchanges.
This should help develop venture capital and attract long-term investment.”
Presidential aide, Arkady Dvorkovich noted that the global economic crisis has given Russia the opportunity to rebuild its economy.
“The global economic crisis has given Russia the opportunity to rebuild its economy for the better – that’s according to presidential aide Arkady Dvorkovich
The task we’re facing right now is not to rebuild the economy we had, the structure of that economy, the structure of economic growth of previous years. Although we would, of course, like the same rate of economic growth.
We need to refresh the economy and create the basis for a new economy. One that will see steady growth over many years.”