Investments: foreigners have grasped the consumer market of Russiathe Russian authorities far not the first year tell about necessity of improvement of an investment climate for the country for attraction of foreign investors, and not speculators, and serious portfelnyh the investors ready with all gravity to develop business in Russia.
however to estimate efficiency of measures accepted in this direction difficult enough. The matter is that the exact data about foreign participation in the Russian business is for certain unknown, as for foreign shareholders frequently disappears benefitsiary from Russia. Not a secret that, according to the same Rosstata, the largest foreign investor in the Russian actives - Cyprus, but all understand that receipt of money from this island in the Russian Federation, as a matter of fact, is vozrashcheniem the Russian capitals deduced from the country in the various financial purposes.
we Will try to find out, whether so many foreign investors are presented in the Russian market, whether the situation with foreign investors in our country during the last years has changed and whether it is necessary to give to foreigners tidbits of the largest domestic actives.
the latent figures
If to analyse transactions of merges and absorption with participation of foreign buyers for the last years the curious picture appears: the Russian companies are bought more actives abroad, than by foreigners in Russia. According to KPMG, the lion`s share of transactions in the Russian market of merges and absorption in 2007 - 2011γγ. Had on transactions between the domestic companies, further on volume of transactions investments of the companies from the Russian Federation abroad, and a smaller part of such transactions - purchase by foreigners of the Russian actives follow.
a share of real participation of foreign investors as final benefitsiarov in Russian industrial exchange counters Now averages from 10 % to 40 %, including from 10 % to 30 % belong to foreign players - to speculators, and only remained small part is in hands of branch strategic investors, the chief of department of the corporate analysis of bank " results the estimations; Petrokommerts Evgenie Dorofeyev.
foreign investors, according to experts, the companies in the Russian oil and gas sector, metallurgy, a mining industry and a consumer sector traditionally most of all involve. Besides, foreigners actively are interested in the Russian bank sector. By estimations Ernst and Young, for today foreign investors posess approximately the fifth part of actives of the Russian credit organisations.
It is made in Russia
Probably, almost each Russian in the everyday life anyhow faces consequences of foreign investments into the Russian economy, buying the goods of foreign manufacturers made in Russia. Therefore we will more in detail stop on investments into a consumer sector. The same Vimm - the Bill - Dann Foodstuff since September of last year on 100 % belongs to the leading American manufacturer of drinks and foodstuff PepsiCo Inc. Britano - the Netherlands company Unilever Plc. In 2011γ. Also has considerably expanded the presence in the Russian market of the cosmetic goods and means of personal hygiene at the expense of purchase of the Russian concern the Guelder-rose Sean MakKarti marks in conversation with partner KPMG to Russia and the CIS. From among smaller, but S.MakKarti`s worthy transactions allocates acquisition in 2011γ. The Italian company DeCecco The first macaroni company that became the first investment in the history of the company for limits of Italy.
not less actively foreign investors are presented and in the Russian car industry. So, French - a Japanese alliance of Renault - Nissan already owns 25 % of actions the Autovase, and in the future the alliance intends to receive control over the Russian motorcar giant. Speaking about investments into domestic car industry, it is necessary to note also numerous factories in the Kaluga and Leningrad areas for which cars of such foreign marks as Ford, Fiat, Toyota, Volkswagen, etc.
Foreign investors aspire to get and to the Russian teleindustry gather. So, last year the American giant of cinema - and teleindustries Walt Disney has bought 49 % of the Russian federal entertaining TV channel the Seven (were 7 TV ) And now instead of the Seven on air broadcasts Disney.
At the transaction conclusion on purchase and sale of this or that active each party, certainly, pursues the interests. In a case with direct foreign investments of foreign investors the large Russian market, and also possibility of reduction in price of the costs at the expense of manufacture in the Russian Federation first of all interests, the main strategist " believes; Uralsib Kepital Vyacheslav Smoljaninov. Thus foreign buyers prefer the profitable companies which take in the lead positions in the Russian market and provide good conditions for growth and transparent business - models, partner KPMG to Russia and the CIS S.MakKarti marks.
As to interests of the Russian side the domestic industry, besides capitals, is in great need in new technologies, nou - hau and the international experience for increase of the competitiveness in the world market. automobile sector - a good example of branch where the Russian companies managed to involve foreign investments for revival the enterprises that allows them to compete in the local market to transnational corporations which continue to export the production to Russia, and many of which have created local capacities, putting means in own new projects - representative KPMG marks.
According to V.Smoljaninova from Uralsib Kepital use of the best international the expert which are brought with themselves by foreign investors, allows to raise labour productivity and as a whole competitiveness of the Russian enterprises. As a result quality of the goods made in Russia under control of foreign experts, frequently appears above. Thus foreign investors understand that non-observance of behavioural conditions and arrangements can lead to serious problems, up to licence withdrawal or even nationalisation as it is done periodically by the governments of some countries, for example Venezuela, V.Smoljaninov marks. Thus, experts do not see special danger that foreign investors will dominate in one separately taken branch of the Russian economy.
the big possibilities
If to speak about prospects of direct foreign investments into Russia against stagnirujushchej the European economy and growth delay investment possibility in the Russian business on - former raises interest of foreign buyers in China, are considered by S.MakKarti from KPMG. In the future he expects growth of interest of investors to such branches of the Russian economy, as public health services, pharmaceutics, transport and an infrastructure. these branches are capable to offer attractive prospects of long-term growth and need additional investments into the capital and technology for continuation of modernisation of economy of the Russian Federation - explains S.MakKarti. As to strategic branches of the Russian economy, that, according to the expert, in the future, most likely, variety of joint ventures and partnership with the international transnational corporations for realisation of new projects or modernisation of already existing capacities and actives there will be formed.
certain interest for foreign business, according to experts, also is represented by the future privatisation of the state actives to the Russian Federation. now the great attention is chained to branches with strong state participation. If clear and accurate rules of privatisation are presented, and also state and business interaction it will positively affect privatisation process " is registered; - operating partner Ernst and Young across Russia Alexander Ivlev considers. It supposes that as a result participation of foreign investors in the Russian branches and the companies with strong state presence will increase. Also, according to A.Ivlev, inflow of foreign investors on the Russian market will be promoted by integration of Russia into the World Trade Organization (WTO) and the Organization of economic cooperation and development (OESR).
At the same time, on a way of direct foreign investments to Russia till now there are different obstacles. In spite of the fact that the government of the Russian Federation as a whole supports foreign injections in the Russian economy and takes measures on improvement of an investment climate in the country, foreign investors continue to speak about complexities of bureaucracy, especially at local or regional levels, and also about absence of a transparency and predictability performed by the tax and customs legislation of the Russian Federation, marks S.MakKarti. at the given stage the Russian legislation and judiciary practice not always in a condition to provide level of protection of the rights of the investors, comparable to other large international financial centres - partner BDO in Russia Elena Khromov agrees.
according to E.Dorofeyev from bank Petrokommerts the relation of the Russian authorities to foreign investors during the last years by and large has a little changed. Foreigners suppose in any branches but only if real levers of strategic management of the major actives remain with the structures under control to the power, which de - jure can have and foreign registration - the expert speaks. In other words, the Russian authorities regard the foreign capital as a potential source of danger to Russia as sovereign state, it explains. thus readiness degree to suppose foreigners to possession of large sites of the property in Russia fluctuates in inverse proportion to the world prices for raw materials and, accordingly, abilities of the power independently to develop corresponding actives - the analyst adds.
as to interest of foreigners in purchase of the privatised strategic enterprises of the Russian Federation here, according to experts, also there can be a set of questions. Whether will want to buy this active the large direct foreign investor at not clear game rules which are defined by a conjuncture and arrangements at present and, the turn, can exchange in the long term two - three years. At all of us plans very long-term, simply they are reconsidered each six months. I think that, most likely, foreign investors will avoid such investments - the main strategist " believes; Uralsib Kepital V.Smoljaninov.