The total turnover of the companies is now 69 billion RUB (1.87 billion EUR), head of the regional Department of Economic Development, Mr. Roman Nakozin says to Regnum. The challenges of the small and medium-sized companies still remain however. Mr. Nakozin admits that red tape, undeveloped legal frameworks, insufficient credit possibilities and lack of specialists remain a problem. Meanwhile, the development of small business is top priority for the regional administration. Governor Ilya Mikhalchuk says to Regnum that small and medium-sized enterprises must be made the main drive for regional growth. Photo: BarentsPhoto.com
