ABSTRACT
Introduction For several years, Russia, as the second-largest emerging economy after China, has been seen by the foreign investors as a country with good potential for economic growth and a great business opportunity. In 2014, it was the tenth-largest economy by GDP worldwide (IMF, 2015). According to the Ernst and Young attractiveness survey’s 2013 figures, Russia has the ninth-largest domestic consumer market and is the sixth-most attractive region to invest in the world. It attracts foreign direct investment because of its huge reserves of natural resources (e.g. natural gas, oil, metals), its educated, skilled labor force and the fast growth of its retail market and middle-class population, the main driver of consumption spending (Ernst & Young, 2013). In August 2012, Russia joined the World Trade Organization (WTO) after eighteen years of negotiations. WTO membership was an additional incentive for greater trade between Russia and other countries throughout the world (WTO, 2012). Western companies have a large presence in a range of economic sectors, including energy, automobiles, telecommunications, finance and business services and consumer goods. Significant opportunities for investment are growing, for example in the areas of transport and infrastructure, machine tools and high-tech industry (Rostowska, 2013; UK Foreign & Commonwealth Office, 2014). Looking at the main macroeconomic indices, Russia should be an attractive country for foreign investors.
