Opinions of industry professionals
Helen Carrere d’Ancosse,
Permanent Secretary of the French Academy
“The main achievement of democracy in Russia is that the choice only made by the country is irreversible, because its society embraced the essence of democracy, its institutions and limitations. And it does not matter much whether the parliament is hostile towards the president, as it was under Yeltsin, or collaborates with the head of the state, which is the case under Putin. The main thing is the regularity of the people’s expression of will”.
Andrea von Knop,
Head of the Union of the German Economy in the Russian Federation
“Persistent reform and good tax policy have made Russia one of the most appealing countries for foreign businesses. Thanks to the improvement of the investment climate in Russia, German business people came from their restrained position to FDI in economy. The SME business community has formed in Russia, and the Russian government actively supports it”.
Jean Lemiere,
President of EBRD
“In 2004, EBRD invested US $2 million in SME development in Russia. We are committed to proceed in the spirit of our strategy, and we enhance our capabilities to provide loans, ruble-denominated loans inclusive. Russia is making headway, but it has to move even faster on the way that will ensure its further development, not on the basis of the mineral resources alone. This is what the Russian government is now thinking about – what has to be done to ensure the new growth through innovations. We welcome this. It relates not only to the increase in the financial inflows; we are talking about the new approach to the management of private capital, share capital”.
Paavo Lipponen,
Speaker of the Finnish Parliament, Chairman of the Social Democratic Party of Finland
“The Russian economy, as the economies of other countries in the region, has become more open over the last ten years. It must be said that throughout this period, the Finnish companies have managed to avoid big fiascoes. Their investments in Russia are estimated to exceed US $200 million. The amount of investments is growing chiefly due to the persistent reformist policy pursued by the Russian government and brighter economic prospects of your country”.
James Turley,
Chairman and CEO of Ernst & Young Global Co-Chairman of the Foreign Investment Advisory Council
“Foreign direct investment in Russia increased by 40% in 2005, and FDI continues to grow. There is still significant opportunity and need for FDI. In order for Russia to develop the economy to its fullest and become a global leader, it will need to attract sufficient capital and FDI in a very competitive global economy. Russia recognizes the critical importance of FDI, which brings access to new technology, capital for growth, and opportunities to develop new markets. We have established a very constructive and open dialogue with the Russian government to support their efforts to establish Russia as a preferred investment alternative”.
Spencer Abraham,
US Energy Minister
“The Bush Administration regards successful development of Russian energy resources as one of the most important drivers in satisfying long-term energy demands and in ensuring the energy security of the USA and the rest of the world”.
George Schultz,
Former US Secretary of State
“If you are looking for goldfields of science and technology, pay attention to Russia”.
Ernest-Antoine Seilliere,
MEDEF President
“Currently the environment for doing foreign business has considerably improves in Russia. French businesspeople note that possibilities for working in the Russian market have been growing. We are optimistic about investments in Russia. Today France ranks fifth by the volume of investments in the Russian economy. One of the key areas of our partnership is aerospace; at the same time there are other areas for cooperation, such as banking, energy, and the automotive industry, which can be regarded as promising”.
Wim-Hein Pals,
Director of Robeco Emerging Market Equities Fund
“Today’s Russian economy is fueled not only by the energy industry. Booming mobile communications is an excellent example of not energy economy growth. Certainly, high energy prices contribute to an increase of foreign exchange reserve, however, there are also other attractive possibilities for investments”.
Christophe de Margerie,
Vice President of Total
“If we are not able to enter the Russian market, we will not be among the leaders”.
Klaus Kleinfield,
Chief Managing Director, Siemens
“Russia is a country of elite personnel: the ratio of highly qualified specialists in Russia is 7.1 per 100 people. In Germany this ratio is 7 per 100; in Brasil, it is 1 per 100. Russian engineers are outstanding specialists”.