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Putin advises big private companies to place orders with SMEs

December 21, 2017, 21:05 UTC+3 MOSCOW

The president believes that in 2018 the total volume of orders for small and medium-sized enterprises will reach $51.2 bln

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MOSCOW, December 21. /TASS/. Russian President Vladimir Putin expects that large private companies will place their orders with small and medium-sized enterprises (SMEs).

The head of state believes that in 2018 the total volume of orders for SMEs will reach 3 trillion rubles ($51.2 bln).

At a meeting with representatives of Russian business circles and associations, Putin touched upon the topic of purchasing goods and services from SMEs.

"As a result of the interaction between the government, the Corporation for the Development of Small and Medium Enterprises and companies with state participation, the volume of purchases from small and medium-sized enterprises in 2017 grew by a third - by half a trillion rubles and amounted to two trillion rubles ($34 bln)," he said.

According to the president, "there is every reason" to bring this figure to three trillion rubles in 2018, in particular thanks to the growing share of high-tech products.

"It is important, as we see from this experience, that cooperation between companies with state participation and small and medium-sized businesses is profitable and effective, in particular it increases the competitiveness of large businesses," the head of state said.

Putin stressed: "I expect that only state companies or companies with state participation to benefit from such opportunities and advantages of working with small enterprises, but also large private businesses."

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