"Our companies are completely developed [in Africa] since maybe 50 years, they are family companies that used to be there for years and are very well introduced there and that we could use as a bridge for Russian companies. Monaco is a good door for Europe or to Africa, come to us!" the head of Monaco Economic Board said on the sidelines of the bilateral business forum at the Russian Chamber of Commerce and Industry in Moscow.
Monaco boasts the highest GDP nominal per capita in the world, and according to data by the London-based research company WealthInsight, one in each three residents of the country are millionaires.
Earlier in the day, Gilles Tonelli, Monaco's foreign minister, who also addressed the audience in Moscow, noticed that political stability in Monaco, its system of indirect taxes, more often attributed as a tax haven by the West, as well as its high-quality medical services and developed touristic infrastructure can serve as additional advantages while doing business in Monaco.
