The Ministry of Economic Development of Russia participated in the Economic Projection 2025 event organized by the Association of Russian and Turkish Entrepreneurs. The meeting focused on the development of bilateral trade, economic and investment links between the Russian Federation and the Republic of Turkey.

The event was also attended by the Ambassador Extraordinary and Plenipotentiary of the Republic of Turkey to the Russian Federation, Tanja Bilgic, Director of the Department of Asian, African, Latin America, Ministry of Industry and Trade, Sergei Nosov, Head of the Department of Tax and Legal Advice of Kept Michael Orlov, as well as representatives of Turkish business in Russia.

According to Prime Minister Tatiana Ilumshnikova, investment is a key condition for restructuring and developing the Russian economy against external pressure. As part of the Deputy Minister ' s event, the investor support measures implemented by the Ministry of Economy Development of the Russian Federation were presented.

" 2023 Russia completed a record investment growth of 9.8 per cent, to 34 trillion roubles. The quality of investment is changing, business investment in machinery and equipment, intellectual property, which directly affects the productivity growth required under staff constraints " , reported by Tatiana Ilushnikov.

A wide range of instruments are in place for Russian and foreign investors in the Russian Federation. The established system supports the project at any stage, from the construction infrastructure to the purchase of equipment and materials for construction.

In Russia, for example, there is an agreement on the protection and promotion of investment, which creates foreseeable conditions for the implementation of investment projects. There are instruments to attract capital and to share risks: a public-private partnership mechanism, a project finance fund, and sponsorship of WES.

Since 2018, a regional investment tax deduction has been in place in the RF. It allows companies to reimburse up to 25 per cent of the investments by partially exempting the profits tax. The federal investment tax deductions will be in effect from 2025. The new instrument is an investment tariff concession: investment projects of 250 million roubles from 69 priority sectors of the economy can duty-free import equipment and materials for the project.

In addition, there are a number of preferential regimes with special tax conditions in Russia, such as special economic zones, pre-development territories, etc.

The development of relations with the Turkish business is being pursued in different directions. In autumn this year, 35 Russian managers became participants in internships in Turkey under the Presidential Management Training Programme. They studied the experience of foreign company management colleagues, learned their requests and solutions that could be implemented in their enterprises.

Source: www.economy.gov.ru
Source: freepik.com

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In the Yaroslav region, various assistance is provided to entrepreneurs through the Mala and Middle Entrepreneurship Project, as well as to industrial enterprises under the " Productivity " project and the " International Cooperation and Export " national project.

All support measures for small and medium-sized businesses can be accessed on my business site.

Details of all support measures for industry and investors on the investing site