Russia plans to slash business regulations

RUSSIA / FSU POLITICS - In Brief 17 Jan 2019 by Alex Teddy
On 15 January Prime Minister Medvedev announced that the government will probably introduce a regulatory guillotine in Russia. In the next two years outdated business regulations will be repealed. Regulations found to be unnecessary will be scrapped and business is elated. Overregulation stymies business and drives up costs. Many of the regulations earmarked for the axe are over 80 years old. The Ministry of Economic Development estimated that regulations introduced in 2018 cost business over USD 2.2 billion. This ministry is the driving force behind the move to cut regulations. South Korea and Vietnam have also radically reduced their regulatory burdens in the last few years.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.