Today's Russia : A Perspective on Foreign Investment, by Jeffrey M. Hertzfeld
The future of foreign investment in Russia is tied to the continuation of the process of economie reform. This process is inevitably slow and painful, marked by ongoing political, economie, social and legal instability. But, there is no other way. Russia has crossed the Rubicon. Investing in Russia only makes sense as a ... [Show full abstract] long-term strategy aimed at acquiring market shares as the Russian market emerges. But, until Russia acts to encourage investment by offering incentives such as tax stabilization, protection from frequent adverse changes in the law, and non-discriminatory treatment for foreign investors, substantial investment will be slow in coming. Nevertheless, many western companies are staking out positions in this new market and managing to survive and grow. This trend will accelerate as and when western financial institutions make funds available to share the risk.