Russia  Boosting SMEs
World Economy

Russia Boosting SMEs

Russia’s First Deputy Prime Minister Igor Shuvalov wants to encourage major local firms, both private and state-owned, to do more business with domestic small and medium size enterprises. This could give a $105 billion boost to local industry, RT reported. Shuvalov plans to work out the details with Russian antitrust authorities. Global practice has been taken into account and shown that in the US, for example, a company after reaching a certain size in assets, is required to purchase at least 23% of goods and services from small businesses, Shuvalov’s spokesman told Russian business daily Vedomosti. In the first half of 2015, state-backed companies procured only $7 billion worth of goods from domestic small to medium sized businesses, which is only 5.7% of the total amount of orders, according to the Ministry of Economic Development. The new initiative will boost this number to at least $105 billion, says Yuri Danilov, who heads a company that aims to help small businesses access government contracts.

Short URL : https://goo.gl/e3dyZ3
  1. https://goo.gl/rsvNdQ
  • https://goo.gl/fa5YIq
  • https://goo.gl/bGR7yf
  • https://goo.gl/PYsCFE
  • https://goo.gl/QBAm3X

You can also read ...

The expected increase in the squeeze on living standards comes as the weak pound pushes up the cost of imported  fuel, food and raw materials.
All eyes will turn Tuesday to Britain’s consumer price index...
The eurozone economy has enjoyed a surprisingly strong 2017.
Exports of goods from the eurozone jumped in August,...
Increase in China Factory Price Inflation
China’s factory price inflation rose again in September,...
World Bank says another $500 billion in infrastructure spending is needed over the next five years.
Indonesia is on track to become a trillion-dollar economy and...
Russia FDI Almost Doubles
The volume of foreign direct investment has almost doubled in...
Japan Factory Output Up
Japan’s industrial production increased less than initially...
Bulgaria Risks Higher Inflation
Real wage growth in Bulgaria has been exceeding productivity...
Venezuela Needs $30b a Year to Rescue Economy
The International Monetary Fund calculates a potential rescue...