Speaking to reporters during a visit to Myanmar, Russian Economic Development Minister Maxim Reshetnikov said that decisions on the return of foreign brands will be made taking into account the interests of both Russian business and consumers, and that the conditions for Western companies will be different.
According to the Minister, the departure of a number of foreign brands has created unique opportunities for Russian entrepreneurs and companies from friendly countries. And they have taken full advantage of this. Thanks to the government's support measures, including for the small and medium-sized business sector, domestic manufacturers were able to rapidly increase their supply of goods and services.
“Russian business has made major investments to fill the niches left by foreign companies leaving the country. It is very important for us to get the return on these investments,” Reshetnikov said.
At the same time, Minister Reshetnikov emphasized that it is important to take into account the interests of consumers and maintain diversity in the market in order to ensure competition and keep prices under control, and said: “In this regard, the Russian market was and remains open. All decisions will be made individually, taking into account the balance of these two factors… It is obvious that the Russian economy has changed. Therefore, the requirements for foreign companies in terms of localization, investment and technology will be completely different.”
