A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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21 August 2019
Sergey Khoroshaev

Sergey Khoroshaev on the Social Entrepreneurship Law

Late last month President of the Russian Federation Vladimir Putin signed Federal Law No. 245-FZ ‘On Amendments to the Federal Law ‘On the Development of Small and Medium-sized Entrepreneurship in the Russian Federation’’ dated 26 July 2019. The law defines the terms ‘social entrepreneurship’ and ‘social enterprise,’ which led the media to dub it the ‘Law on Social Entrepreneurship.’

As the name suggests, Law No. 245-FZ legally establishes the concepts of ‘social entrepreneurship’ and ‘social enterprise’ (hereinafter — SE). Logically, this lays the foundation for the development of future regulations. In part, federal terrotires will have the opportunity to acknowledge social enterprises as such and provide them with special support, including through financing (together with municipalities).

The law is clearly aimed at supporting indicated categories of citizens (the disabled, retirees, ex-convicts, orphans, et cetera along those lines), certain sociocultural spheres, small and medium-sized enterprises (SMEs), and those employed in these spheres.

Is this law important? When it comes to supporting indicated groups and associated SMEs — absolutely, yes. Is it enough that this federal law was passed? Absolutely not.

In the next publication we will discuss three possible outcomes of the implementation of this law. In this series of articles, we will answer the questions posed above and get a glimpse of the new epoch towards which the world is heading, especially in relation to impact investing.

Material prepared by:
Sergey Khoroshaev
Investment Commissioner of the Government of the Kaliningrad Region under the Government of the Russian Federation in Moscow

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