Page 88 - RusRPTJul23

5.3 FDI
Russia has not closed its doors to any foreign manufacturers, Russian President Vladimir Putin said, addressing a plenary meeting of the St. Petersburg International Economic Forum (SPIEF) on June 16.
"Should foreign companies decide to come back, to return to our market, <...> we have not closed our doors to anyone," Putin emphasized. He pledged efforts to create necessary conditions for their operations in Russia.
"By the way, we view those foreign companies who have stayed or are about to operate [in Russia] as domestic producers, and we will treat them as [Russian businesses]," Putin emphasized.
The exit of foreign companies from Russia has opened up some RUB2 trillion ($23.8bn) worth of niches, Russian President Vladimir Putin said, addressing a plenary meeting of the St. Petersburg International Economic Forum (SPIEF) on Friday.
"Foreigners have largely vacated up to 2mn square metres of retail space and a niche worth about RUB2 trillion ($23.8bn)," he said.
According to the Russian leader, lots of foreign businesses manufactured their products locally, therefore their departure from the Russian market has not
88 RUSSIA Country Report July 2023 www.intellinews.com