Requirements for Localisation and Investment Will Change for Foreign Companies Returning to Russia – Ministry of Economic Development
The requirements for foreign companies seeking to return to Russia will be significantly different in terms of localisation and investment, Minister of Economic Development Maxim Reshetnikov stated on 22 February, responding to a question about the prospects for foreign firms resuming operations in Russia and the conditions under which this might occur.
“Clearly, the Russian economy has changed. Therefore, the requirements for foreign companies in terms of localisation, investment, and technology transfer will be entirely different. Russian businesses have invested heavily to fill the niches vacated by the departure of foreign firms. It’s very important that these investments pay off”, he said.
At the same time, Reshetnikov emphasised the need to consider consumer interests and to preserve diversity in the market to ensure competition and restrain price growth. “In that regard, the Russian market has been and remains open. All decisions will be made on a case-by-case basis, taking into account a balance of these two factors”, he added.
Source: https://tass.ru/ekonomika/23215293