01:59Agricultural companies do better in Russia than Europe financially, said General Director of EkoNiva-APK Holding Management Company Stefan Durr at the St. Petersburg International Economic Forum on Friday.
"Agricultural companies in Russia have very good conditions. We do not pay any profit taxes, we have a low income tax rate. Subsidies are good, so from this point of view, financially it's better here than in Europe," Durr stated.
Durr also noted the development of digitalisation of agriculture in Russia.
"There is a lot of bureaucracy in the EU. In agriculture, everything is pretty good, because digital agriculture is based on satellite technologies and, of course, is better in Russia simply because we have much more land, which means a lot more companies, more farms, and therefore the digitalisation of agriculture in Russia, of course, is more developed than in Germany," he said.
The 26th SPIEF takes place on June 14-17. The Forum has taken place since 1997. Since 2005, SPIEF is held under the patronage and with the participation of the president of the Russian Federation.
Russia: 'Financially it's better here than in Europe' - Russian-German company CEO on business in Russia
Agricultural companies do better in Russia than Europe financially, said General Director of EkoNiva-APK Holding Management Company Stefan Durr at the St. Petersburg International Economic Forum on Friday.
"Agricultural companies in Russia have very good conditions. We do not pay any profit taxes, we have a low income tax rate. Subsidies are good, so from this point of view, financially it's better here than in Europe," Durr stated.
Durr also noted the development of digitalisation of agriculture in Russia.
"There is a lot of bureaucracy in the EU. In agriculture, everything is pretty good, because digital agriculture is based on satellite technologies and, of course, is better in Russia simply because we have much more land, which means a lot more companies, more farms, and therefore the digitalisation of agriculture in Russia, of course, is more developed than in Germany," he said.
The 26th SPIEF takes place on June 14-17. The Forum has taken place since 1997. Since 2005, SPIEF is held under the patronage and with the participation of the president of the Russian Federation.
Agricultural companies do better in Russia than Europe financially, said General Director of EkoNiva-APK Holding Management Company Stefan Durr at the St. Petersburg International Economic Forum on Friday.
"Agricultural companies in Russia have very good conditions. We do not pay any profit taxes, we have a low income tax rate. Subsidies are good, so from this point of view, financially it's better here than in Europe," Durr stated.
Durr also noted the development of digitalisation of agriculture in Russia.
"There is a lot of bureaucracy in the EU. In agriculture, everything is pretty good, because digital agriculture is based on satellite technologies and, of course, is better in Russia simply because we have much more land, which means a lot more companies, more farms, and therefore the digitalisation of agriculture in Russia, of course, is more developed than in Germany," he said.
The 26th SPIEF takes place on June 14-17. The Forum has taken place since 1997. Since 2005, SPIEF is held under the patronage and with the participation of the president of the Russian Federation.