Western investors are returning to Russia
Almost all of its participants are going to attend the Foreign Investment Advisory Council (FIAC), which will be held on October 14 in Moscow, for the first time since 2014, RBC reports.
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“The largest foreign investors, including BP, Metro AG, Total SA, Unilever, will meet with Russian Prime Minister Dmitry Medvedev for the traditional discussion of their wishes and problems,” the publication notes. – According to the list of confirmed participants as of September 21 (available to RBC), for the first time since 2014, the composition of the council will be almost complete (see table). Two years ago, only 29 companies out of 51 FIAC participants took part in a similar meeting. This year, 42 board members will come to Moscow (the full composition in 2016 was 54 companies).”
“FIAC is a living organism that confirms the theory that economics always prevails over politics,” Alexander Ivlev, managing partner of E&Y in Russia, told RBC, confirming that a larger number of participants will come to Moscow in October than in previous years.
At the same time, RBC sources in the companies participating in the Council say that the list of participants in the upcoming meeting will most likely expand further - “a number of companies are now completing consultations on participation.”
“For example, a representative of the pharmaceutical corporation Abbott Laboratories is currently in “approval” status. As Abbott’s director of public relations in Russia, Irina Gushchina, explained, the company “highly values the partnership with FIAC” and at the moment the issue of the participation of Miles White, Abbott’s chief executive officer, is being discussed,” writes RBC.
“I think that the turnout at FIAC can be regarded as an indicator of the country’s investment attractiveness. The presence of the heads of the largest corporations at the meetings of the Council reflects the situation in relations between Russia and the international community,” Oleg Preksin, vice-president of the Association of Russian Banks, commented on the news.
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