Russia

Ausserer & Consultants, Russia – Global Accounting Alliance Member

Economic Overview & Business Opportunities

Russia is the largest country in the world with most of its population and cities situated within Europe and some around the Asian dominant half. Home to a population around 140 million people, Russia has an upper-middle income in strategic areas of the economy.

As a resource-rich country with immense diversity, Russia has undergone remarkable changes ever since the collapse of the Soviet Union. The Russian economy has moved from a centrally planned economy towards a more market-centred economy. As of now, Russia is one of the world’s leading producers of oil and natural gas, and it is predicted to grow in the next 10 to 15 years. Besides, Russia is also the top exporter of metals like steel. On top of that, its captive market of over 140 million people has provided tonnes of investment opportunities for foreign investors. Other than its huge market and strategic location, the strong educational system has successfully produced highly skilled workforce, which is one of the greatest assets of the Russian economy.

According to 2016 World Bank Group Global Doing Business report, Russia is ranked 40^th on the list of the ease of doing business across 190 measured economies. The ranking and its economic performance have further proven that Russia possesses tremendous growth potential. In fact, invest in Russia yields a multiplicity of advantages:

• Dynamic economic growth
• One of the largest markets in the world
• Highly skilled human resources
• Rich natural resources
• Strategic geographic position that links Asia and Europe
• Attractive taxation system
• Pro-business government
• Stable political system

Russia’s unique geographical location that borders the North American continent, it has great access to sea, road and rail routes that gives it the advantages in logistics and transportation. The untapped potentials of the market and soaring rates of return in Russia have promised a decent investment climate in the country. If you are planning to expand internationally, Russia could be on your bucket list.

Johannes Ausserer
Managing Partner