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Prospects for Small Business in Far East to Be Discussed at EEF 2022

19 August 2022
Перспективы малого бизнеса в Дальневосточном федеральном округе обсудят на ВЭФ-2022

The Far East is a unique region with a variety of characteristics that make it possible to build any kind of business. However, the specifics of the macro-region’s location and market structure dictate directions for development. Markets in the Asia Pacific are becoming increasingly attractive to entrepreneurs in the Far East. The prospects for small businesses will be addressed at one of the business programme sessions of the 7th Eastern Economic Forum, which will be held from 5 to 8 September in Vladivostok.

There are many vibrant export projects in the Far Eastern regions. There are many government initiatives and support measures in the Far East. However, there is still a number of issues that need to be resolved. Participants in the session on the sidelines of EEF 2022 will discuss what and how SMEs export, how to develop the sphere of wild crops collecting, harvesting and processing and turn it into a major opportunity for SMEs and the self-employed. What challenges do entrepreneurs face when exporting. What are the solutions?

Alexander Kalinin, President of OPORA RUSSIA, the Russian non-governmental organization for small and medium-sized enterprises, is among the guest speakers.

“In order to meet current challenges, grow and reboot the economy, a great deal of attention needs to be paid to exports – in particular, to increasing their volume. The regions of the Far East have a high potential for increasing it, but in order for these processes to be effective, the problems faced by small businesses in this area need to be addressed. At a special session of the Eastern Economic Forum, we will focus on the points of growth for SMEs and the factors affecting the growth of competitiveness in the Far Eastern Federal District,” commented Alexander Kalinin. 

The development of the Far Eastern Federal District’s export potential is hampered by sanitary bans, difficulties in delivering products and the lack of appropriate terminals and infrastructure, as well as difficulties with payments. In addition to the existing objective factors hindering business activity in general and exports in particular – the harsh climate, lack of a quality road network, remote logistics, underdeveloped general aviation, low population density, and lack of services – the region also has a significant tariff and tax burden. Currently only 1% of small and medium-sized enterprises export their products, compared with 70% in Japan and over 50% in China.

For EEF 2022 updates and news, go to the official Forum social network pages 


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