According to Russian news agencies, it raises the turnover threshold for micro-businesses to 120 million roubles, for small enterprises to 800 million roubles and for medium-sized companies to 2 billion roubles. Medvedev said that the move allows more businesses to take advantage of incentives provided by the state, including access to public procurement, financial support under various programmes and a number of other instruments. The initiative is part of the Russian government's broader policy of strengthening small businesses.
  "It is an important decision," said the president of employers' association Confindustria Russia, Ernesto Ferlenghi.
  "Currently, small businesses make up just over 20 percent of the total in Russia, against 70 percent in Italy. This gap makes it important for Italian and Russian companies to collaborate." The association, together with one of the major Russian business federations (Opora Rossiya), has proposed to extend Russian credit lines on concessional terms to joint-ventures with foreign capital up to 49.9 percent, against the current 20 percent. "This instrument will make it easier for Italian firms to team up with local partners on the Russian market," Ferlenghi explained.(AGI)