Economics and Life (17.03.2014): Representatives of Foreign Companies in Russia are careful in their Assessment of the Business Environment in the Country

The share of foreign companies in Russia, who think that the business environment remained unchanged, went down from 48 percent in 2012 to 29 percent according to the 2013 data. The number of those who noted a worsening in the business climate increased by over three times – from 8 percent to 23 percent. 48 percent of those surveyed thought that the business environment has improved compared to the previous year.

These results are contained in the report by FleishmanHillard Vanguard, one of the leading strategic communications consultants in Russia and the CIS. The results were presented at the Russian Business Week that opened on the 17th of March in Moscow.

In the ranking of problems that hindered business in the past year, lack of qualified personnel was noted by every second respondent. Following this issue is corruption, noted by 45 percent of the respondents, and insufficient protection of property and contract rights, named by 40 percent.

Representatives of foreign business named the priority measures that, in their opinion, are needed to stimulate socially responsible business. 62 percent named increasing of transparency in the decision-making of government authorities and accountability of government structures, 46 percent pointed to tax incentives and 44 percent mentioned eliminating excessive regulation,

The main goal of the study is to collect opinions of representatives or foreign businesses and joint business ventures with capital participation of leading transnational corporations that operate in Russia and take an active part in the development of its economy, social environment and infrastructure.