Western companies return to Russia

FDI in Russia has surprisingly increased significantly this year. Numerous well-known companies from the West are planning to increase their presence in the country or have already invested heavily, Bloomberg reported.

One reason for optimism is the weak ruble, and the fact that the phase of greatest instability after the imposition of US and EU sanctions has passed. This provides advantages for Russian industrial companies that successfully provide their services and products at http://www.promotech.ru/. Foreign companies are also looking for profit opportunities in rubles.

Among the companies planning to expand their presence in Russia are the Swedish furniture group Ikea, the French Leroy Merlin and the American Pfizer and Mars. In the next five years, Ikea plans to invest about 1.6 billion in the construction of new facilities. Leroy Merlin will invest $ 2 billion in the same period to double the number of its stores. Pharmaceutical company Pfizer and food manufacturer Mars are about to invest in production.

“Now is the time to invest. I strongly believe in the great potential of the Russian market in the long term, ”says the head of Ikea in Russia. Ikea built a furniture factory in the fall of this year for $ 60 million near the second largest Russian city of St. Petersburg.

Foreign direct investment in Russia rose to 8.3 billion in the first nine months of this year, up from $ 5.9 billion over the past year. The election of Donald Trump as the new US president also raised hopes for a normalization between Russia and the United States. “Trump has a more open approach to Russia. This leaves room for better relations and this is an advantage, ”said the chairman of the American Chamber of Commerce in Russia.