Putin: Western companies did not expect Russian companies to quickly occupy niche markets after withdrawing from the Russian market

[Global Network Report] According to RIA Novosti, Russian President Vladimir Putin received representatives of the all-Russian social organization “Business Russia” at the Kremlin on the 26th and said that those Western companies that have withdrawn from the Russian market did not expect that Russian companies would be so fast. Occupying niche markets in major industries.

According to reports, Putin mentioned in the interview that some Western companies had withdrawn from the Russian market. “Our economy and businesses, including the private sector, have become so powerful that they have easily captured these niche markets in major industries,” he told the above-mentioned representatives. “No one seems to have expected us to move so fast .By the way, the labor market is in better shape than ever, and the economy and industrial production are growing.”

According to the report, Putin also mentioned that Russia still has some problems. “Of course, there are some problems, and we see that these problems will still exist in the medium term. We know, what is happening in the machine tool manufacturing industry, and some supporting components and so on, we all know. Even so, all the supply chains are Recovery, work is being done. It surprises me even, it’s a result of the maturity of our people, especially in the business world, of their initiative and talent,” he said.

Since Russia launched a special military operation against Ukraine in February last year, McDonald’s, Chanel, Starbucks, Nike and many other Western brands have announced their withdrawal from the Russian market to express their support for Ukraine. Based on previous reports from Russian media such as TASS and Russia, Putin said in July last year that the withdrawal of some foreign companies from the Russian market would help Russia get rid of its dependence on foreign technology. He also said, “When some companies leave, they take technology and specially trained personnel with them. If (Russian companies) want to operate within the framework determined by foreign technology, they have to relearn or fire some personnel. A situation without dignity. To this I want to say: it’s a blessing in disguise.”