Central regions | Finance, business | Industry, manufacturing

Russia considers softer stance on foreign ownership of SMEs

29 Mar '18
The Russian government has approved draft amendments to the law on small and medium-sized enterprises (SMEs) proposed by the Ministry of Economic Development which would remove the 49% limit on foreign ownership of Russian SMEs, the US-Russian Business Council reported.

The change would apply to non-offshore foreign SMEscompanies with no more than 250 employees and $34.8m in annual revenues.

Foreign firms currently own shares in nearly 14,000 Russian SMEs, according to the Federal Fax Service.

The proposal aims to attract foreign investment in and boost technological modernization of Russian SMEs, which enjoy a simplified taxation and regulatory regime. Since January, state companies have been required to grant at least 15% of their procurement contracts to SMEs, which amounts to a total value of $52.2m a year, according to some estimates.

According to OporaRossii, Russias leading SME association, the proposed measure would increase investment by European and Chinese high-tech companies into medium-sized Russian firms.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: law (26) / small and medium sized enterprises (0) /

Latest News: Central regions
25 Apr '18 | Technology & innovation | Finance, business
24 Apr '18 | Retail, FMCG | Finance, business
23 Apr '18 | Finance, business | Technology & innovation
18 Apr '18 | Technology & innovation
17 Apr '18 | Finance, business | Retail, FMCG
 

Feature stories

3 Apr '18
In regions most of European Russians will hardly ever...
21 Nov '17
Russian scientists have come up with what they say is...
7 Sep '17
Search (News archive - 21230)
Advertising
gcvsymposium
Advertising
Independent Software Developers Forum
Advertising
Marchmont News

Latest News

25 Apr '18
Russia is stepping up support for developers of IT...
24 Apr '18
The French hypermarket chain Leroy Merlin operating...
23 Apr '18
Two experienced Russian companies, MTT and...

Most read stories from last week

25 Apr '18
Russia is stepping up support for developers of IT...
24 Apr '18
The French hypermarket chain Leroy Merlin operating...