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 SMEs—companies 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, Russia’s 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
Find Related Content


Latest News: Central regions
2 Jun '20 | Transport, logistics | Technology & innovation
2 Jun '20 | Technology & innovation

Feature stories

21 May '20
Russian and Italian researchers have developed a...
5 Apr '20
To extend the service life of medical fabric masks—an...
26 Feb '20
A Russian developer has come up with its own...
Search (News archive - 22012)

World of the Future, World of AI

Luc Jones: A Guide to Doing Business in Russia and the CIS Countries
Why Russians Don't Smile
Marchmont News

Latest News

3 Jun '20
Scientists in Siberia are working on new polymeric...
2 Jun '20
Yandex, the company behind Russia’s largest search...
1 Jun '20
Companies that offer software for the monitoring of...

Most read stories from last week

1 Jun '20
Companies that offer software for the monitoring of...
2 Jun '20
The Ministry of Health of the Russian Federation...
2 Jun '20
The StarLine unmanned vehicle, which is being...