Putin: the departure of foreign brands from Russia did not affect the production of goods
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The departure of foreign brands from the Russian market did not affect the production of goods, only the logo on the products has changed. This was stated by Russian President Vladimir Putin during his speech at the plenary session of the St. Petersburg International Economic Forum (SPIEF).
“A notable event and a powerful stimulus for our business was the replacement of transnational corporations that left the Russian market. <...> Under many foreign brands, products that are completely produced at our facilities have been sold for a long time. In fact, these are Russian goods only with foreign logos. So their release with the departure of foreign brands will not stop, only the logo changes,” he said.
According to Putin, initially Russian companies were worried about the departure of Western brands, but now they are occupying the vacated production sites.
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