A contract to invest in Russia – Il Sole 24 Ore

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This article was published on March 4, 2016 at 10:20.

the art of innovation is the beautiful title of an Italian-Russian seminar, organized in Milan by the Know Eurasia and the international economic Forum in St. Petersburg, and at the same time guiding thread of a busy year for bilateral relations between Italy (which in June will be the guest of honor at the Forum) and Russia summarizes the sphere on which is focusing the Russian leadership, in search of innovation ideas to revitalize its economy, and the added value that Italy can offer in this research, the art of making. “The declined innovation in the various sectors, including entrepreneurial approach, is the challenge that lies ahead,” says Antonio Phallic, president of Know Eurasia and Banca Intesa Russia.

And this new approach, adds the Italian ambassador in Russia Cesare Maria Ragaglini, “he invites us to move from the made in Italy made with Italy ‘: in a scenario in which international sanctions penalize exports, the invitation is to reflect on the possibilities of producing all ‘foreign’ looking to Russia not for the difficulties but for what it can offer. ” By joining forces, in the case of small businesses. In Russia that the sanctions have pushed to identify innovation as one of the main levers to return to grow internally, he adds Phallic, open ‘concrete opportunities for cooperation and investment. ” L ‘ “import substitution”, the program with which the Russian government aims to close the productivity gap to other countries, “does not exclude the participation of innovative foreign companies.” The Russian market needs it.

That is trying to turn into investment opportunities, by introducing incentives to encourage partnerships with foreign companies. “A process of unstoppable transformation – Phallic claims – so much so that the Bloomberg Innovation Index 2015 assigns to Russia twelfth place for innovation among 198 world economies.” Italy can give a lot in technology, precision engineering, the meccanotronica, high tech. The art of innovation.

In this scenario, the legal and regulatory framework of the industrial policy of the Russian Federation is in transformation and Vittorio Loi, partner of the law firm Pavia e Ansaldo in Moscow, explains the main changes . Starting from Framework Law programmatic entry into force in July 2015 (no. 488-FZ) with the aim of increasing the rate of technological innovation in industry, increase employment and improve quality of life. The Russians, says Loi, “want to take things at home and reduce dependence on exports. But still we need foreign technology. ” Why the law provides funds for industrial development, industrial parks and clusters. But above all, says Vittorio Loi, “a special contract of investment made available to entrepreneurs that relocate, that create new production facilities or modernize it existing, which realize production facilities of goods for which there are no equivalents or substitutes in Russia.”
The contract wants to offer to those who make the “jump” a guarantee of stability, an unchanged framework. For a maximum period of ten years incentives and tax cuts are planned, facilitated conditions for use of properties and public lands, guarantees against pejorative amendments to existing legislation. But not the possibility of obtaining public funding or concessions on a personal basis. “Do not hide behind the excuse of sanctions – invites the ambassador Ragaglini -. We try to overcome them politically, but in the meantime we work in this scenario. We just have to roll up our sleeves and work. “

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