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www.gks.ru Federal State Statistics Service DISTRIBUTED WITH THE DAILY TELEGRAPH TUESDAY_SEPTEMBER 29_2009 Investment
Co-operation Britons and Russians to discuss prospects for business as economic growth picks up
Now is the time to get down to business
The fifth Russian-British on the London Stock Exchange tion fi gures did not disappoint,
investment forum, RBCC (LSE) by another $93.4m. either. According to Central
RussiaTALK 2009, will be held in This year’s RBCC RussiaTALK Bank chairman Sergei Ignatyev,
Moscow on October 21, helping forum will provide an opportu- consumer prices rose by just
businesspeople from both nity to discuss the tough lessons 8.1pc in the fi rst eight months
countries to forge joint projects of recent months, decide on the of the year. He expects 2009 in-
and take full advantage of global best strategy for both countries fl ation to be 11.6-12pc: below
economic trends. to get out of the crisis, and take last year’s figures and at the
full advantage of the opportu- pre-crisis level of 2007.
VIKTOR KUZMIN
nities presented by global re- The RussiaTALK 2009 agenda
RUSSIA NOW covery. Looking at the results of includes: the banking sector
Russia’s anti-crisis efforts over situation, co-operation with
In 2010, it will be 455 years the past year, President Dmitry transnational corporations,
since Russia (then called Mus- Medvedev told ministers the capital markets, national cur-
covy) and England established country’s GDP grew 7.5pc in the rency protection, risk and in-
formal trade relations. It was in second quarter compared to the vestment, competitiveness and
1555 that Britain’s Muscovy previous three months. “Cer- client loyalty in times of reces-
Company opened an office out- tainly, it is just the fi rst sign of sion. The debate will also focus
side the Kremlin walls. recovery; it is too early to speak on agriculture, new business
To this day, Britain remains about steady growth,” he admit- technology, corporate govern-
among Russia’s key trade and ted. Yet it is obvious that the ance, development of small-
investment partners. According PHOTOXPRESS Russian government is in a po- and medium-sized businesses,
to Russia’s Federal State Statis- Russian stocks have more than doubled in value since hitting bottom in February. sition to revise downward its upgrading Russia’s infrastruc-
tics Service, in the fi rst half of predictions for a decline in do- ture, and Moscow’s future as a
this year it was the fourth larg- mestic production in 2009. global fi nancial capital.
est investor in Russia. As of the fi rst six months of 2009 was es- turing sector, maintaining an in- $60.8bn) – dwarfi ng 2008’s fi g- Moreover, the positive trends The forum will be addressed by
end of June 2009, the amount of timated at $3.7bn, while portfo- vestment lead in the production ure of $873m. Meanwhile, the also urged officials to review Prince Michael of Kent, patron
cumulative British investment lio investment stood at $2.2bn, of coke and oil products ($646m), potential for investment coop- economic targets for next year. of the Russo-British Chamber
in Russia stood at about $25bn, and capital investment totalled and the production and distri- eration between the two coun- The GDP growth estimate was of Commerce; Evgeny Prima-
nearly one tenth of total foreign $18.7bn. bution of electricity, gas and tries is huge. Russian companies raised to 1.6pc, and industrial kov, former prime minister and
investment in the Russian econ- British companies were also water ($92m). Despite the crisis, readily list their bonds and glo- production is expected to grow president of the Russian Cham-
omy. (The fi gure was larger by among the major foreign inves- Russian investors increased bal depositary receipts (GDRs) by 1.4pc, with investment pro- ber of Commerce and Industry;
nearly $5bn at the start of the tors in Russia’s vital economic their presence in the British on the UK market. Indeed, Rus- jected to add 1pc. (Even higher UK ambassador to Russia
year, but capital outfl ows were sectors. Ploughing in more than economy, raising their cumula- sia’s leading steel maker, Evraz growth can be anticipated if oil Anne Pringle; and Russia’s am-
signifi cant as the crisis began to $1bn, Britain was the second tive investment to $2.5bn (from Group SA, has applied for a per- prices reach $100 a barrel, as bassador to the UK,Y uri Fedo-
bite.) Direct investment in the largest investor in the manufac- a total foriegn investment of mit to increase its GDR listing some analysts forecast.) Infl a- tov.
-
Forging ahead in economic relations
well-qualifi ed speakers, and to happy to have international and we would be delighted to
network with others in the fi eld contracts governed by English see more Russian retailers pro-
of Russo-British business. The law, which has seen English law viding quality goods. At the top
RBCC does not set out to solve firms set up offices in Russia end of the scale, big businesses
How has the financial crisis affect- 1,000 or so British companies al- trade problems between our and employ Russian lawyers in – not just football clubs! – al-
ed the economic relationship be- ready doing business in Russia countries, but we do facilitate London. Moscow still has the ready welcome Russians as se-
tween Russia and the UK? have continued work, and our greater communication and long-term aim of becoming a rious investors. A significant
Some British companies, which seminars are still well attended help prevent problems from world financial centre, and percentage of high-end real es-
were looking at Russia as a po- by companies who see Russia as arising in the fi rst place. British fi nancial services fi rms tate, especially in London and
tential new market, have put a market for the future. are excellently placed to help. the southeast of England, be-
plans on hold, but more because What sectors of the Russian econ- Although much construction longs to Russians.
of uncertainty at home than any What results do you expect from omy are most interesting for Brit- work is currently on hold in
worries about the economic cli- this forum? ish investors (apart from the en- Russia, the services of British What new opportunities will this
mate in Russia. The eagerly an- The main purpose of Russi- ergy sector)? architects, planners, project forum offer participants?
ticipated IPOs [flotations] of aTALK, the RBCC’s annual in- British investors play a serious managers and construction This forum will provide compa-
Russian companies on the Lon- vestment forum in Moscow, is to role in the energy sector, but of fi rms are in demand. nies with an opportunity to as-
don Stock Exchange have been bring together interested par- the British companies now sess economic conditions in both
frozen. Currency fluctuations ties from the UK and Russia doing business in Russia, some What kind of projects are British Russia and the UK, make new
Tim Eggar, chairman of the have also affected business; the who want to explore and con- 90pc are not involved in that companies ready to offer Russian contacts and lay foundations for
Russo-British Chamber of instability of the rouble and the tinue good relations and suc- fi eld. There has been a great in- investors in the UK? future development.
-
Commerce, talks to Russia Now fall of sterling against the euro cessful business. It provides an crease in the number of British The London Stock Exchange
about the forthcoming have added to the uncertainty. excellent opportunity to hear retailers selling goods in Russia. will welcome back the Russian Prepared by
investment forum in Moscow. However, the majority of the updates on the situation from Many Russian companies are IPOs as soon as they are ready, Vladislav Kuzmichev
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