The niche of foreign companies that left Russia will be filled by competitors, the Ministry of Industry and Trade said. They believe that it will be difficult, if not impossible, for these companies to return to the market. In what is happening (the departure of companies from the Russian Federation), “there is no tragedy,” the department noted.
The opinion on the situation with the withdrawal of foreign companies from Russia was expressed by Deputy Minister of Industry and Trade Viktor Evtukhov. He stressed that “the market does not tolerate a vacuum.”
“In general, there is no tragedy in what is happening. […] The principle of competition works: someone left, he was replaced by others, ”said Yevtukhov.
The official added that “Russia is loved” because “we clearly fulfill our obligations.” Russia is a good market and it is profitable to work with Russia, believes Yevtukhov.
Recently, 150 foreign companies have left the Russian market, the head of the Ministry of Industry and Trade, Denis Manturov, was quoted as saying at the end of July. In total, there are 25,000 foreign companies in the Russian economy, he said.
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