Putin pledges to put business f irst in bid to attract more investment
RuSSIAN president Vladimir Putin said yesterday reforming the economy is his top priority.
Mr Putin won his third term in office in March amid largescale protests in major Russian cities, fuelled by reported election fraud at a parliamentary vote.
In an address to investors and heads of global corporations, Mr Putin confirmed his com- mitment to economic reforms that should make Russia a more attractive business destination.
“We have mapped out an entire programme of large-scale reform, and it has received broad public support,” he said. “I see its fulfilment as the main goal of my tenure as president.”
He also admitted his government has failed to diversify Russia’s economy away from its reliance on crude oil, but pledged to tackle the issue. He said the gov- ernment would soon be drafting its budgets in a way that Russia’s main expenditures and investment projects would not rely on taxes expected to come in from oil companies enjoying high oil prices.
Mr Putin also appointed an ombudsman vested with special powers to defend the rights of company owners and directors.
Boris Titov will be able to represent owners and directors in courts and suspend official rulings which could be viewed as hampering their rights.
Russian authorities have admitted a poor investment climate is scaring investors away and hope the appointment will improve the country’s profile and reputation.
Mr Putin also touched upon protests against his rule, arguing that it was important to listen to grievances, but he indicated he would not bend to opposition demands.