ECIPE experts: due to the personal data law, the Russian economy will lose 286 billion rubles
The European Center for International Political Economy ( ECIPE ) predicted the consequences of the introduction of the law on personal data in Russia on September 1. The loss of the Russian economy will amount to 0.27% of GDP - 286 billion rubles ($ 5.7 billion).
The new law prescribes foreign companies to place data on Russian customers exclusively in the territory of the Russian Federation. Similar laws are already in force in Vietnam, China, Indonesia and India. ECIPE experts note that Russia will be the first country to introduce full localization of data, having an economic capacity of three times greater than that of developing countries.
Russia may lose its investment attractiveness, as cooperation with a foreign company will require the latest posting of customer information in Russia. And this will entail additional costs. Half of Russian GDP is provided by companies processing a large amount of data. It is known that Brazil abandoned such a law for fear of harming the economy.
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ECIPE experts believe that, against the background of the new law, Russia will experience an economic decline of another 4.1%.
Internet ombudsman Dmitry Marinichev believes that this will negatively affect small and medium-sized businesses. As a result, the market can be monopolized by large players.
Some foreign companies have expressed their willingness to start data transfer. Some of them have already begun this process.
Megamind wrote that such companies as eBay , AliExpress , Google , Lenovo , Samsung, and Booking.com deal with the transfer.
According to a Lenovo representative, in their case, the data represent a small amount of information that took up about a terabyte - such a volume can be stored even in a regular laptop.
The new law will affect the manufacturers of some computer games. Oleg Sambikin, president of Syncopate games publisher, told RBC that the company stores the personal data of Russian players in five data centers in Moscow, which are connected by the company's own network of fiber optic lines.
The new law prescribes foreign companies to place data on Russian customers exclusively in the territory of the Russian Federation. Similar laws are already in force in Vietnam, China, Indonesia and India. ECIPE experts note that Russia will be the first country to introduce full localization of data, having an economic capacity of three times greater than that of developing countries.
Russia may lose its investment attractiveness, as cooperation with a foreign company will require the latest posting of customer information in Russia. And this will entail additional costs. Half of Russian GDP is provided by companies processing a large amount of data. It is known that Brazil abandoned such a law for fear of harming the economy.
')
ECIPE experts believe that, against the background of the new law, Russia will experience an economic decline of another 4.1%.
Internet ombudsman Dmitry Marinichev believes that this will negatively affect small and medium-sized businesses. As a result, the market can be monopolized by large players.
Some foreign companies have expressed their willingness to start data transfer. Some of them have already begun this process.
Megamind wrote that such companies as eBay , AliExpress , Google , Lenovo , Samsung, and Booking.com deal with the transfer.
According to a Lenovo representative, in their case, the data represent a small amount of information that took up about a terabyte - such a volume can be stored even in a regular laptop.
The new law will affect the manufacturers of some computer games. Oleg Sambikin, president of Syncopate games publisher, told RBC that the company stores the personal data of Russian players in five data centers in Moscow, which are connected by the company's own network of fiber optic lines.
Source: https://habr.com/ru/post/291606/
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