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Matviyenko to support SMEs by creating business incubation ventures

Author: Alex Freedmann Section: Major Events of the Month

Issue: March 2009, Vol. 4, No. 2

Tags: Matviyenko

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SME Support & Development

Addressing a session of the City Government last month, St. Petersburg Gov. Valentina Matviyenko called on subordinates to aggressively support the development of more SMEs in the city. “SME development is the most vital safety bag, and hence, a top priority for the development of the economy,” she said. “Today, crisis has led to massive layoffs from big companies. We need to create more job opportunities in the SME sector for these people,” she said. “This can be achieved by creating business incubation ventures, which usually require small premises and the most basic conditions.”