Category: Russian Economy

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

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An intergovernmental agreement on trade in services and investment was signed in the Kremlin on the sidelines of the meeting between Russian President Vladimir Putin and United Arab Emirates President Mohammed Al Nahyan on August 7. The document was signed by Russian Minister of Economic Development Maxim Reshetnikov and by the Emirates Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.

The agreement forms the legal basis for increasing trade and investment cooperation between Russia and the UAE, significantly reducing barriers and opening up new prospects for companies in both countries. Stable and transparent rules for doing business and investment activities are established.

The document complements the free trade agreement in goods between the EAEU and the UAE, signed in June 2025. Together, these agreements create a comprehensive and inclusive free trade area, providing businesses in both countries with additional preferences compared to the rules of the World Trade Organization.

The agreement provides new opportunities for Russian companies to enter the UAE market and expand their presence. Thus, Russian service providers and investors will be able to operate without restrictions in such sectors as computer services, research and development, technical testing, technical consulting, computer backup in air transport, repair of sea and aircraft, rail transport, management services, educational, legal services. In addition, Russian companies are guaranteed the opportunity to open subsidiary banks, medical institutions and news agencies with 100% Russian capital in specialized free zones of the UAE.

The agreement will also facilitate the implementation of mutually beneficial joint projects in priority sectors such as energy, industrial production, and infrastructure. The parties will establish a Russian-UAE Investment Council, whose tasks will include expanding investment cooperation between the two countries and eliminating barriers to such interaction.

"The agreement will give new impetus to positive and mutually beneficial cooperation with the UAE. It will contribute to the expansion of bilateral trade and economic cooperation in trade in services, diversification of trade flows, expansion and deepening of cooperation ties," noted Maxim Reshetnikov.

Let us recall that the UAE President is in Moscow on an official visit. The focus of the high-level talks is the state and prospects for further development of multifaceted Russian-Emirati cooperation.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

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Russian Minister of Economic Development Maxim Reshetnikov and State Secretary – Deputy Minister Alexey Khersontsev held a meeting with regions on the pace of classification of accommodation facilities, where they summed up the interim results, highlighting the regions that are leaders in the implementation of the classification reform.

The subjects that have most actively participated in the process include the Altai Republic, Kaliningrad Region, Astrakhan Region, Altai Krai, the Republic of Tatarstan, Nizhny Novgorod Region, Moscow, Chelyabinsk Region, Samara Region and Sverdlovsk Region.

"We thank these regions for their prompt work. Their experience shows that with close cooperation with business, reform is faster and more effective," noted Maxim Reshetnikov.

The key innovations from January 1 this year are the introduction of mandatory classification for new types of tourist accommodation and the division of classification into two stages. Now, not only hotels are subject to classification, but also campsites, recreation centers, including glamping.

To legally operate, all owners of accommodation facilities must pass the first stage of classification – self-assessment. The result of passing the self-assessment is inclusion in the register of classified accommodation facilities, published on the Rosaccreditation website. The procedure for inclusion in the register is extremely simple: owners independently enter data about their facilities. This is a mandatory step for the legal provision of services. Since March 1, regions have been monitoring compliance with this requirement. If it is discovered that services are being provided by an accommodation facility that is not included in the register, it is issued an order to undergo a self-assessment. If such an order is not followed, the entrepreneur may be fined.

If a hotel or sanatorium provides higher quality services, they can go through the second stage – receiving a category ("stars"). To do this, you need to contact an accredited organization using your personal account in the registry.

“The reform is aimed at giving tourists more options to choose from and allowing businesses to operate in fair conditions,” stressed Maxim Reshetnikov.

To combat illegal posting, site monitoring, on-site inspections and test purchases are used. 2,487 warnings have already been issued, the largest number being in Moscow (629), Krasnoyarsk Krai (353) and St. Petersburg (213).

The reform should be completed by September 1, 2025, after which all accommodation facilities that have not passed the self-assessment will be automatically suspended from the register and will not be able to sell services on booking aggregator websites. Also, from September 6, fines will come into effect – for absence from the register and for inaccurate information on aggregators.

"Our task is to help businesses adapt and, if possible, avoid such fines. Therefore, we ask the regions to strengthen their interaction with accommodation facilities: to consult, conduct information campaigns, and conduct preventive visits," said State Secretary – Deputy Minister Oleksiy Khersontsev.

"There is a month left until September 1 – the deadline for completing the self-assessment. The Ministry of Economic Development, together with Rosaccreditation, has created all the necessary legal and technical instruments for implementing the reform. Tourists must receive reliable information – this is the basis for trust and development of the industry," the minister summed up.

Regions have been instructed to strengthen their work with businesses and ensure that as many as possible complete self-assessments by September 1.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

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Small and medium businesses of the Jewish Autonomous Region have received additional opportunities to attract financing and implement investment projects. Within the framework of a special limit of "umbrella" guarantees of the SME Corporation for the Far East, an additional limit has been allocated for SMEs of the Jewish Autonomous Region in the amount of 230 million rubles. This was reported by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov during a working trip to the Far East.

"The mechanism of "umbrella" guarantees is an effective tool for supporting and developing small and medium-sized businesses. It allows attracting the necessary financing even with a shortage or absence of own collateral. This is especially in demand in the regions, so the allocation of a separate limit is an important part of targeted support for local SMEs, which form a significant part of the economy of the Jewish Autonomous Region. With its help, entrepreneurs will be able to attract at least 460 million rubles," said Maxim Reshetnikov.

Sberbank and VTB became partner banks for the additional limit for the Jewish Autonomous Region. At the same time, entrepreneurs of the Jewish Autonomous Region still have access to the special limit of "umbrella" guarantees of the SME Corporation for the Far Eastern Federal District, the limits for which, in addition to Sberbank and VTB, have been extended to Alfa-Bank, Far Eastern Bank, Solid Bank and SME Bank.

Another initiative to support SMEs in the Jewish Autonomous Region was the reduction of the minimum amount for projects from the region within the framework of the Center for Support of Investment Lending of the SME Corporation – from 50 million to 10 million rubles.

"Lowering the threshold for a project to enter our Investment Lending Center will allow this tool to be used even when implementing small investment initiatives. In addition to assistance in structuring transactions, entrepreneurs will be able to receive guarantee support from the SME Corporation and regional guarantee organizations. Joint provision can amount to up to 70% of the amount of financing provided by the bank," noted Alexander Isaevich, CEO of the SME Corporation.

The "umbrella" mechanism involves providing banks — partners of the SME Corporation with guarantee limits, within which financial institutions issue loans to entrepreneurs. Such guarantees of the SME Corporation cover up to 50% of the bank loan amount. The amount of one guarantee can reach 1 billion rubles for a term of up to 10 years. The mechanism guarantees the bank the fulfillment of obligations under such a loan, thereby reducing reserves and freeing up liquidity for additional business lending.

As part of the Investment Lending Support Center (ILSC), the SME Corporation helps entrepreneurs structure an investment project for submitting a loan application to a bank and assesses the possibility of providing their guarantee as collateral. The Corporation's specialists provide recommendations on preparing a business plan and financial model, mitigating project risks based on the results of the analysis, and also provide support during the application review at the bank.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

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As part of a working visit to the Jewish Autonomous Region, Russian Minister of Economic Development Maxim Reshetnikov met with the acting governor of the region, Maria Kostyuk. During the visit, key areas of economic development in the region were discussed, including support for small and medium-sized businesses, the implementation of large investment projects, as well as prospects for the development of tourism and creative industries.

"The Jewish Autonomous Region is demonstrating steady economic growth. Over the past five years, mineral extraction here has increased by an average of 1.4% per year, which is significantly higher than the national average. Industrial production in the first five months of this year grew by 8%, with an average growth of 3.7% in the country. The region occupies a good position in terms of investment activity thanks to such projects as the construction of a main gas pipeline, a transport and logistics complex, and the implementation of 17 major investment initiatives," said Maxim Reshetnikov.

Particular attention was paid to the development of small and medium-sized businesses. Currently, the region has submitted an application to the Ministry of Economic Development to create an industrial park as part of the federal SME support project. It is planned that 21 residents will be located on its site, which will create 700 new jobs. In addition, with the help of the instruments of the participants of the National Guarantee System, small and medium businesses of the region in the first half of 2025 attracted about 90 million rubles for the development of projects, and an additional limit of "umbrella" guarantees of the SME Corporation within the special limit for the Far Eastern Federal District will allow entrepreneurs to gain access to loans in the amount of at least 460 million rubles.

An important topic of discussion was the development of tourism. In the first five months of this year, the number of tourist trips to the region increased by 1.5 times. As part of the national tourism project, the region received 30 million rubles in subsidies, which were used to equip a campsite and modernize a ski resort. Another 90 million rubles are allocated for these purposes in the next three years.

During the visit, Maxim Reshetnikov visited the Foma ski resort, a large sports and entertainment facility that operates all year round. The complex includes ski slopes, ski lifts, a skating rink, a swimming pool and playgrounds, attracting guests not only from the Jewish Autonomous Region, but also from neighboring regions.

The Minister also took part in the presentation of creative and tourism projects, where he noted the significant potential of the region in the creative economy.

"The share of creative industries in the region's economy is 1.8%, and the region has every opportunity for growth. A regional law on support for creative industries has already been adopted, new projects are being created, such as the fashion industry cluster in Birobidzhan and the capsule clothing collection "Ozarai EAO", reflecting the cultural heritage of the region," emphasized Maxim Reshetnikov.

During the meeting with business representatives, measures to support creative entrepreneurs were discussed, including financial, property and educational instruments. The Minister also noted the importance of developing the export potential of creative products, given the region's proximity to the markets of the Asia-Pacific region.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

The number of socially oriented non-profit organizations (SONPO) at the end of 2024 was 133,812, Rosstat reports. Compared to 2023, their number increased by more than 3 thousand SONPOs. Their largest number – almost 12 thousand organizations – are registered in Moscow.

The top 5 regions by the number of NPOs also included Krasnodar Krai (5,644), Moscow Oblast (5,218), St. Petersburg (4,997), and Tyumen Oblast (4,646).

"Socially oriented non-profit organizations play a key role in the development of society, solving acute social problems where the state and business cannot always promptly help. They support vulnerable groups of the population (pensioners, people with disabilities, orphans), deal with environmental issues, education, protection of rights and cultural projects," commented Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova.

According to Rosstat, the total receipt of funds and other property by NPOs in 2024 exceeded 2 trillion rubles, and the number of employees was over 544 thousand people. The largest increase was shown by the average number of volunteers participating in the activities of NPOs: last year, over 4.8 million people joined on a voluntary basis. The increase compared to 2023 was about 900 thousand people.

In terms of the distribution of NPOs by types of activity, the largest number of organizations operate in the field of physical culture and sports (32,315), provision of social services (31,456), education and science (26,345), culture and art (16,014), charitable activities (15,640), and promotion of patriotic and spiritual-moral education of youth (14,323).

"SONPOs often act as innovators, developing and testing new approaches to providing services in the social sphere. Their flexibility and proximity to the needs of society allow them to create targeted and effective solutions," Tatyana Ilyushnikova emphasized.

In total, in 2024, NPOs provided social services to more than 95 million people. Over the past 12 years, this figure has increased fivefold.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.