Opportunities in Russia

The Business Times
View From The Top
Published: 30 May 2016

 
How do you view prospects of doing business in Russia?

WHILE Russia, along with the rest of the BRIC nations (Brazil, India and China), is no longer booming like it once was, there are good opportunities in Russia for Singapore firms seeking to venture out.

Russia’s economic growth may be slow now but it will pick up in tandem with the rest of the global economy when the tide turns.

This, however, is purely from an economic standpoint. Singapore firms should also consider other important factors such as the country’s leadership and political climate, which is a big concern. President Vladimir Putin’s unpredictable leadership and geopolitical ambitions pose both an economic and reputational risk for foreign companies wanting to invest on Russian soil.

Add to that the Western sanctions that have been imposed on the country due to Mr Putin’s hard-handed approach, and Singapore companies will need to look at any business ventures in Russia as a very long term investment and fully understand all these risks involved before venturing forth.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

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