On the 23rd of April 2021, International Youth Edu-skills Foundation (IYES Foundation), along with the Economic Faculty of the Peoples’ Friendship University of Russia, organized a webinar on the topic “What you need to know to do business in Russia.”
Webinar was moderated by Ms. Shraddha Agarwal, Manager for International Activities & Partnerships, IYES Foundation. Doctor Professor Victor S. Efremov, Doctor of Economics, Head of the Department of Management, Peoples' Friendship University of Russia, and Elena V. Kolganova, Doctor of Economics, Associate Professor, Deputy Head the Department of Management, the Peoples' Friendship University of Russia for International Activity were invited as the experts of the session.
Doctor Elena Kolganova gave a holistic view of the topic, described the business potential in Russia for foreigners. Doctor Professor Viktor S. Efremov, presented in-depth statistical analysis of foreign investors in Russia compared to other countries. He also described major business sectors in Russia which attracts foreign companies or investors to Russia.
Q&A session came out to be very interesting which helped to look deeper into insights like whether FDI is possible in Russia?
Our experts explained that FDI from a third company is welcomed in Russia. There is a special committee governed by the President of Russia to regulate.
One participant asked if it is possible to invest in the Russian shares market or not?
“It is! As the Russian share market is open for all. Certain documents need to be prepared and submitted, and one is set to invest. Also, we are likely to conduct part II of this conference, and there we will share the link of the documents one needs to collect to invest in the share market.” said Dr. Viktor S. Efremov.
The webinar was helpful to look beyond the typical, rigidity thoughts about Russia. It was encouraging and generating new ideas in different sectors to invest in. It was a successful webinar as we are planning to conduct an IInd part of “What you need to know to do business in Russia,” considering all the legal parts one needs to know to do the business.