BRICS countries bet on digital technologies to boost development of small and medium-sized businesses

Russia’s Ministry of Financial Enhancement has held an on line roundtable dialogue on the assist

Russia’s Ministry of Financial Enhancement has held an on line roundtable dialogue on the assist and advancement of tiny and medium enterprises (SMEs) within the five-member BRICS trade alliance.

The video conference was attended by governing administration officials and reps of general public and enterprise buildings.

They exchanged experiences and finest methods on working with electronic technologies for the advancement and assist of SMEs. The participants also reviewed the major methods to be certain productive digitalization of this section of the financial state, as properly as state regulation tools. 

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“The conversation of the BRICS international locations on the assist and advancement of SMEs is an excellent chance to attain the escalating possible of the economies of BRICS international locations,” stated the ministry’s Deputy Director of the Expense Plan and Entrepreneurship Enhancement Section Kirill Sergashov.  

“Undoubtedly, electronic technologies make improvements to the enterprise landscape and are a resource of new employment, amplified innovation efforts, more powerful worldwide relations and assist for the export possible of SMEs. Our international locations can obviously see the elementary importance of the transition of SMEs to the electronic financial state,” he added.

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Russia proposed to assess the stage of digitalization of the governing administration buildings of BRICS international locations. These kinds of data could serve as a basis for more methods to generate a “one-stop” electronic system for SMEs. The system could significantly simplify the paperwork when interacting with tax and administrative expert services, and would also boost enterprise activities. 

BRIC was established in 2006 by Brazil, Russia, India and China, prior to South Africa joined the bloc in 2010, introducing the “S” to the acronym.

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