Investment needs Russia

That came to Russia, foreign investors are not going to leave it. This was at last in mid-September conference «Russia and the CIS 2004. Consolidation and Growth: Finance and Investment Forum ».

Putin's name
The main causes of troubles that lie foreign investors in Russia, many foreign participants of the forum identified the consequences of actions related to the «risk of Putin». This new expression has become synonymous with the complexities that must have been to them arise due to the generous initiative of Russian President. The greatest interest, in the sense of the unexpected consequences for foreign capital, for some reason caused announced two days before the forum GDP proposals relating to reform the electoral system. However, Europeans and Americans are not always correctly assess the consequences of the decisions of our leadership in terms of their reflection on the lives of foreigners in Russia. This applies, in particular, their nezatihayuschey pain at the «YUKOS case». The European Bank for Reconstruction and Development Hubert Pandza said: «The main - not the Yukos affair, the main thing - the relationship between power and business».

But while no one in the world did not deny the responsibility of the Russian oil giant to the budget homeland. Many foreign investors say the growth of uncertainty in the stable operation of their business in Russia. In their view, this led to immediate capital outflow from our country, as well as reducing the investment rate. However, chairman of the «Raiffeisenbank» Michelle Periren did not agree with this, noting that, despite everything, «Investment in Russia go». In his view, it is necessary to look «not only for a second term of President Putin, but to continue». According to another participant, «outflows, of course, there are, but sooner or later he would return».

According to the Russians, from the rest of the world think that we are certain the momentum forward. But everyone knows that this is achieved solely through the production and export of natural resources. Other sectors of the economy, particularly technology, are in a state of deep depression. Moreover, public policy hinders industrial growth rather than helps it.

Among the factors deterring allocated a conscious restriction of money supply by the monetary authorities for domestic consumption and the financing of long-term investment projects. But it continues to diligently build up a permanent international hudeyuschy of inflation mysterious Stabilization Fund. First Deputy Prime Minister and Minister of Finance of Russia Alexey Kudrin said recently that capital outflows from the country keep inflation in check. Of course, less than the money, and so easier to manage. This sure all nedouchivshiesya economists. The main thing is that on the missing. But lack of money, as you know, and inhibits the normal economic development. As their own funds, at least for the modernization of the domestic firms are not many, and they are mainly concentrated in extractive industries.

In Russia with love
Most likely, all the fears of foreign investors about the prospects for their economic activities in Russia in vain: the Russian authorities have still not made any steps or statements that could be called antiinvestitsionnymi. Another point is that they all seek to attract and retain foreign investment only. In doing so, it is necessary to note the persistence with which our senior officials have consistently refused to financial services to its own population. For domestic small investors do not create conditions that encourage them to invest in attractive investment projects, such as those in which foreigners give money. With regard to the so-called Russian investment advantages, particularly low-wage, in the opinion of one of the Russian participants of the forum, this should be temporary. After all, the national economy to a great extent it is driven by domestic demand. In the U.S., for example, the recent economic crisis is overcome, among other things, at the expense of cheap loans for housing construction. In Russia, however, remembering chromium on both feet mortgage reform, this is not yet possible even to imagine.

Despite all the difficulties away from sverhvygodneyshego the Russian market, where profits are already several times higher than investments, corrupt them, foreign investors are likely to be perhaps a barrel rifles or more feet. And, at least until the first all the same yet very far. New foreign investors as we are now, perhaps, not very much needed.

Yuri Shihov