In spite of the current diplomatic tensions, American businesses lead the way in foreign investments to Russia. According to a recent study by EY consulting firm (formerly Ernst & Young), in 2018, U.S. companies invested in projects in Russia two times more than their European counterparts, and five times more than those from Asia. Each American company invested around $224 million on average, with European and Asian businesses around $90 million and $40 million respectively.
The study was commissioned by the Foreign Investment Advisory Council (which helps the Russian government improve its investment climate) and polled 95 foreign companies operating in Russia, including 53 companies represented in the FIAC. Among them are such big names as Unilever, Nestle, Shell, Mars, PepsiCo, Novartis, and Kinross Gold.
The respondents have been working on the Russian market for 28 years on average, while six of them have been around since the early 20th century! Here are some of the key takeaways.
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