Reshetnikov announced new conditions for the return of foreign companies

The requirements for foreign companies on localization, investments and technologies will be different in case they return to Russia. This was announced by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov on February 22.

"It is obvious that the Russian economy has changed. Therefore, the requirements for foreign companies on localization, investments and technologies will be quite different," he told reporters.

He specified that all decisions will be made on a case-by-case basis, taking into account both Russian business and consumers.

Reshetnikov stressed that the departure of foreign companies opened unique opportunities for entrepreneurs from the Russian Federation and organizations from friendly countries, which they "took full advantage of." According to him, domestic producers have rapidly increased the supply of goods and services thanks to state support.

The minister specified that business in Russia "seriously invested" to occupy the niches vacated after the termination of foreign firms in the country. At the same time, he noted the importance of the return on these investments.

"At the same time, it is important to take into account the interests of consumers and maintain diversity in the market to ensure competition and contain prices. In this respect, the Russian market has been and remains open," Reshetnikov added.

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Deputy Prime Minister Alexander Novak said on February 20 that foreign companies will be able to return to the country only on favorable terms. He also noted that many niches are already occupied by Russian producers or partners from friendly countries.