icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

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

BRICS countries bet on digital technologies to boost development of small and medium-sized businesses
Russia’s Ministry of Economic Development has held an online roundtable discussion on the support and development of small and medium enterprises (SMEs) within the five-member BRICS trade alliance.

The video conference was attended by government officials and representatives of public and business structures.

They exchanged experiences and best practices on using digital technologies for the development and support of SMEs. The participants also reviewed the main steps to ensure successful digitalization of this segment of the economy, as well as state regulation tools. 

Also on rt.com Russia & India to team up for joint investment projects in Asia and Africa

“The interaction of the BRICS countries on the support and development of SMEs is an excellent opportunity to achieve the growing potential of the economies of BRICS countries,” said the ministry’s Deputy Director of the Investment Policy and Entrepreneurship Development Department Kirill Sergashov.  

“Undoubtedly, digital technologies improve the business landscape and are a source of new jobs, increased innovation efforts, stronger international relations and support for the export potential of SMEs. Our countries can clearly see the fundamental importance of the transition of SMEs to the digital economy,” he added.

Also on rt.com BRICS gearing up for digital revolution

Russia proposed to analyze the level of digitalization of the government structures of BRICS countries. Such information could serve as a basis for further steps to create a “one-stop” digital platform for SMEs. The platform could greatly simplify the paperwork when interacting with tax and administrative services, and would also boost business activities. 

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

For more stories on economy & finance visit RT's business section

Podcasts