Vladimir Putin’s economic plan spooks Russian entrepreneurs

The Daily Beast reports: A young entrepreneur named Vladimir Khrykov listened attentively to every word President Vladimir Putin said last week in his address to Russia’s Federal Assembly. And the 30-year-old was hugely disappointed by what he heard.

For Khrykov, who runs a diaper company on Sakhalin Island in Russia’s Far East, foreign investors are key to his business. And his clients are eager to know just one thing before they invest: Will Russia see more profits in the next few years? And so Khrykov tuned in to hear Putin’s economic plan, so he could divine the future for his firm.

“Putin has no strategy,” Khrykov told The Daily Beast on Wednesday, as he despaired over the contents of the president’s speech, which seemed fragmented at best. “It is impossible for us to convince our foreign investors to spend money on technologies here, as nobody can be sure that the population will be able to afford the product in the future.”

Recently, Khrykov’s Japanese partners asked him whether Russia’s economy would improve in the next 50 years. He didn’t know what to tell them. [Continue reading…]

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