Terry Irwin talks to business leaders about doing business in Russia – November 2012
International executive search company Spengler Fox invited TCii CEO Terry Irwin to speak about recent developments in Russia at a special event it hosted in London on 28 November. The evening took the form of a discussion, with three lead speakers – including Terry – talking about the commercial impact of changes in Russia during the past 12 months. The event was attended by around 50 business leaders and HR directors from a cross-section of businesses.
Pluses and minuses
Terry gave delegates some interesting demographic and economic statistics, plus valuable information about employment law. He was also able to draw on his specialist knowledge of Russia to highlight various factors that companies thinking about doing business there could find useful. He outlined a few negatives and commented on a number of positives, including:
- The retail, telecoms and real estate sectors are experiencing dynamic growth.
- Cooperation with foreign investors is improving.
- Some financial and tax incentives are available.
- Though still difficult, it is not impossible for foreigners to acquire land in Russia.
- There is a large expat community, with international schools in Moscow and St Petersburg.
- As part of its push to change from an oil-oriented to a tech-oriented economy, the Government is offering high technology companies numerous incentives – for instance in Skolkovo, the Russian equivalent of Silicon Valley, near Moscow.
If you are considering expanding your business into Russia, email Terry or call him on 020 7099 2621 for specialist, experience-based advice.