The Investment Council under the Chairman of the State Duma of Russia supports the initiatives for the development of SMEs
Moscow, April 4, 2016- CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev participated in the regular meeting of the Council on Foreign Investment under the Chairman of the State Duma of Russia. During the meeting, members of the Council supported a draft strategy for Small and Medium Enterprises (SMEs), which had been prepared by the Government.
The project includes a number of initiatives to ensure the availability of financial resources for SMEs, stimulate demand for their products and reduce the regulatory burden on these businesses. In addition, the initiatives will create a niche for businesses, improve state policy on tax and non-tax payments, and create conditions that will increase labour productivity and encourage technological innovation and development.
Given that support for SMEs is crucially important, the Council recommended that the federal legislative and executive authorities expedite the preparation and adoption of the necessary legislative and normative legal acts.
In addition, the Council noted the paramount role of establishing the Federal Corporation for Development of Small and Medium Enterprises last year.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), Deputy Chairman of the Investment Council under the Chairman of the State Duma, said:
"RDIF is involved in the development of SMEs through its “Investment Lift" programamong other things. This programme provides support for medium-sized non-resource companies that have export potential. As part of the work on this program, we are currently evaluating several investment projects, which will enable exporting companies to enhance their competitive advantage and enter new markets."
Russian Direct Investment Fund (RDIF)was established in 2011 to make equity co-investments, primarily in Russia alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information at rdif.ru
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