Expert: Doing business in Russia is becoming more easier and comfortable
Large-scale administrative reforms of recent years have allowed not only improving Russia’s position in global investment ratings and rising in the eyes of the World Bank in the Doing Business standings from 120th to 31st place, but also really made the business climate more comfortable, the co-chairman of the public organization Andrei Nazarov said.
“Business has really felt for itself that doing business in Russia becomes easier and more comfortable. When the norms characteristic of commercial law appeared in civil “turnover”, the share of companies that conduct most major transactions under national laws increased threefold. Over the past five years, the number of businessmen complaining about the inconvenience of Russian legislation has more than doubled. Even as a tax system, according to PricewaterhouseCoopers, we are already in 47th place out of 189 countries, overtaking some western states”said Andrei Nazarov.
The expert noted that currently there is a noticeable “reverse” migration of business and the return of capital to the country’s economy.
“€ 10 billion of balances in the accounts have already been declared during the second stage of the capital amnesty, and it has been extended for another year. In addition, last year, 215 new industries opened in the country, which brought more than 200 billion rubles of investments” said Andrei Nazarov.