As part of the Russian post-crisis development programme, five billion roubles in subsidies are to be injected into small- and medium-sized businesses.

The announcement by Russia’s Prime Minister Vladimir Putin is part of an anti-crisis drive by the government.

Up to two billion roubles will be allocated to small innovation companies, while a further two billion roubles will go to small- and medium-sized business in company towns.

The remaining one billion will be used to support small and medium-sized companies in the North Caucasus.
Russia’s Minister of Economic Development Elvira Nabiullina said providing support to small- and medium-sized business was one of the priorities in the Russian government’s anti-crisis programme.

Up to 95 per cent of businesses in five Russian regions are attending the 2010 FinnTech and ToolTech forums this year – a Russian/Finnish trade show, showing further signs of recovery and development.

“Our economy is gradually getting out of the crisis and there are signs of recovery,” Nabiullina said.

The Russian government plan to make it easier for entrepreneurs to receive approvals and authorisations and to simplify customs and migration procedures. There is also a plan to introduce tax stimuli for investors.

“We hope that all these measures and work to improve the investment climate will systemic,” the minister said.

Finnish investments in Russia currently stand at one billion U.S. dollars.