December 7

Putin says Russia is open for business


7 Dec, 2023 13:28

HomeBusiness News

The country has not closed its doors in the wake of Western pressure, according to the president

The Russian market will remain open and competitive despite Western attempts to isolate the country, President Vladimir Putin stated on Thursday.

Addressing the VTB Investment Forum in Moscow, Putin stressed that Russia is not expelling anyone from its market and is not closing itself off.

He noted that many foreign enterprises and organizations have expressed willingness to continue working in Russia in the face of growing pressure from their respective governments.

The number of foreign companies operating in Russia has “surprisingly” risen by 1,500 since March 2022, to a total of over 25,000 firms as of November 2023, Putin said, adding that “we only welcome this.”

He emphasized the benefits of working with and in Russia, insisting that “it was, is, and will be advantageous.”

Putin also noted that the West’s expectations of a Russian collapse after the departure of its businesses had not materialized. Instead, Russian entrepreneurs have managed to adapt and seize new opportunities, according to the president.

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