AmCham: US companies operating in Russia view it as a strategic market
Most US companies active in Russia consider it a strategic market, according to a survey by the American Chamber of Commerce in Russia (AmCham).
79% of the companies polled said Russia was a strategic market for them, while 69% included it in the top 10 countries for their business. 12% of the companies said Russia was a key market and 9% said it was of secondary importance.
Presenting the survey, AmCham President Alexis Rodzianko noted that official US statistics on investment in Russia were not always accurate. For instance, accumulated investments in Russia by the 59 multinational companies polled by AmCham were USD 49.7 bn, whereas official US Department of Commerce statistics put it at only USD 36.8 bn.
“In reality, the presence of American companies on the Russian market is far more significant… Our survey has shown that Russia is an important market, but it could become even more important – there’s potential for that”, Alexis Rodzianko said.
US companies have planned to invest USD 955 m in Russia in 2016. Some 84% of the total will come from non-energy sectors, e.g., 57% from manufacturing and 16% from cafés and restaurants.
Alexander Ivlev, Russia Managing Partner of EY, an international advisory firm, said that, under the current circumstances, companies choose not to quit the Russian market but to change their operating models. “When we ask them about the likelihood of leaving Russia, almost everyone says no. The cost of reentry is too high, so very few are going to leave yet. You cannot ignore a market of 145 million people. That’s why there’s hope that international business will stay in Russia.”
Source: ria.ru/economy/
