Putin repeated pledges to reduce the nation's reliance on exports of oil and other mineral resources and encourage the development of high-tech industries. He also lamented a huge capital outflow and Russian companies moving abroad to avoid the uncertainties of Russian laws and courts.
Russian authorities are expecting capital outflows of up to $65 billion this year. Putin quoted analyst estimates that nine out of 10 major deals of Russian companies are registered abroad to be governed by foreign laws. He urged the government to seek more information on Russian companies from nations where they are registered.
Nataliya Vasilyeva contributed to this report.