33rd session of the Foreign Investment Advisory Council in Russia took place last Monday, the Russian government’s website reports.
At a briefing following the meeting, Economic Development Minister Maxim Oreshkin noted that “The predictability of regulation was among the most important topics that came under discussion. Robotics, digitalization and the use of artificial intelligence taken together can give a serious boost to labor productivity, and leading foreign companies can help promote this positive trend. Arrival of foreign investors matters not so much because of their money as their expertise, including managerial and technological expertise.”
According to Alexander Ivlev, Ernst & Young’s CIS Managing Partner, “From 1994 through 2018, the cumulative investment totals $585 bln of which the Council members invested $184 bln. 91% of the participants of the Council’s recent study confirmed that Russia is a strategically important market. Asia is the leader in terms of foreign investment growth. Next year, the Asian companies plan to increase their investment in Russia by 41%, Europe and the United States by 29%. 60% of the companies have noted improvements in the investment climate, and 55% believe their work on the Russian market makes it possible to create export-oriented production. Overall, 85% of international businesses say they can see the Russian market expanding.”