Foreign investors believe that Russia would become a more interesting place for investment and expansion in the next few years, a recent study by Ernst Young shows.
“A high percentage (70 percent of businesses) are confident that Russia will have a greater investment appeal for their companies in the next three years,” the study said.
“Foreigners that have already invested in Russia are interested in increasing their investments. Business expansion is on the agenda for the heads of 66 percent of companies that have enterprises here.”
Seventy five percent of foreign investors, polled by Ernst Young this May and June, said Russia’s growing domestic market was attractive to them, while 30 percent said it was very attractive.
Investors mentioned insufficient legislative and administrative transparency and, for some of those surveyed, problems with long-term predictability as key concerns of doing business in Russia.
Ernst Young polled heads of over 200 European, North American and Asian companies, nearly two thirds of which already do business in Russia.