Foreign seed producers will be required to create partnerships with Russian companies
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Foreign seed companies, in order to continue working in Russia, will have to create joint ventures (JV) with domestic scientific organizations. Such requirements are contained in the draft rules for the localization of seed production, which were considered on March 16 at a meeting in the Ministry of Agriculture. This was reported to Vedomosti by two of its participants. A representative of the Ministry of Agriculture confirmed that such rules are indeed being developed. According to him, the share of foreign companies in such joint ventures will not exceed 49%.
It will be forbidden for foreign players to work through other legal entities, even 100% Russian, add two participants in the meeting. They claim that the new rules will come into effect from September 1, 2023, although foreign companies are promised a transitional period, the timing of which has not yet been determined.
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