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
COMMENT ON THIS STORY
Find Related Content

Locations:

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

Latest News: Central regions
25 Apr '19 | Finance, business | Telecoms, media
23 Apr '19 | Finance, business | Technology & innovation
22 Apr '19 | Finance, business | Retail, FMCG
16 Apr '19 | Technology & innovation
 

Feature stories

4 Apr '19
Russian scientists have come up with what they say is...
29 Jan '19
Russian biologists and biophysicists have developed...
2 Nov '18
Drawing upon in-depth interviews, the book channels...
Search (News archive - 21343)
Advertising
Venture_Russia_2018
Advertising
NATT
Advertising
StartUp-Village
Advertising
Independent Software Developers Forum
Advertising
Marchmont News

Latest News

25 Apr '19
MTS, one of Russia’s main mobile operators, has...
24 Apr '19
Data MATRIX, a St. Petersburg-based IT developer, has...
23 Apr '19
Steel magnate Alexey Mordashov has taken over a...

Most read stories from last week

23 Apr '19
Steel magnate Alexey Mordashov has taken over a...
24 Apr '19
Data MATRIX, a St. Petersburg-based IT developer, has...
25 Apr '19
MTS, one of Russia’s main mobile operators, has...