Russia is a land of opportunities
Thursday 12th November 2009, 2:30PM GMT.
Barry Martin, managing director of visa specialist The Russia House, addresses the seminar. Behind him is Stephen Dalziel, executive director of the Russo-British Chamber of Commerce. (Picture by Steve Sarre, 0871125)
PLENTY of opportunities exist to do business in Russia, a seminar audience was told yesterday.
The Doing Business in Russia event, hosted by the Guernsey Chamber of Commerce, gave an insight into what those opportunities were, but also the obstacles that companies and individuals will face in capitalising on them.
Stephen Dalziel, executive director of the Russo-British Chamber of Commerce, which acts as the bridge between British and Russian business and facilitates the bringing together of businessmen from each country, said Russia had changed considerably since the end of the last century and no longer fell into the many associated stereotypes.
‘Russia today is very much a consumer society. I always tell business people visiting Moscow for the first time to try and afford themselves one day so they can go round the Kremlin and then out to the Moscow Ring Road to see how Russians enjoy spending their money. It’s incredible.’
But, like the rest of the world, it had been affected by the recession.
However, that was not all bad news, according to Mr Dalziel, because if firms willing to invest in the country did so before it came out of recession, they would earn the respect of the people.
‘Russians admire and respect loyalty so if you come in now when it’s tough, its people will respect that and stick with you.’
The country’s political situation should also not deter would-be investors, particularly those in financial services.
- To read Guernsey Press stories in full, click here for subscription details. Individual editions are now available online.
Island Life
All about Guernsey
Ambassador of the Year 2011
History & Heritage
Visitor Information
Guernsey's government
Campaigns
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
This is Guernsey
Guernsey Press
Useful Links
Is anyone else concerned about this? First the Chinese and now the Chamber of Commerce is encouraging us to get into bed with the Russians. This is a gangster economy if ever there was one, any business thinking about getting involved in Russia needs to be very careful as these guys don’t mess around. Where there is a successful businessman there is a murky past. Make sure you allow for protection money.
Report abuse
Sagaman
I doubt the island authorities would dare to treat the Russian money with such disregard as the Icelandic savers!
Report abuse
it seriously makes you wonder what this States would have done if the finance industry was in situ here when Hitler was busy making Germany an up and coming power………
Morals? Intergrity? Naar, what do we need those for? All we need in money money money!
Report abuse
I am on record about my feelings concerning Guernsey trying to deal with China. My problem is how Guernsey thinks it can show China how to manage its affairs and what on earth China can learn from Guernsey.
Some bloggers promote a holier-than-thou approach to Guernsey versus China, and now Russia, coming up with doom laden comments on how bad it is to deal with these places but never substantiate their comments with any up-to-date facts. What it boils down to in every situation is the knowledge that you are dealing with individuals in each and every case and, so long as you check out the individuals and find that they are good to go, then any concerns will disappear. This applies to not just China and Russia but also to the USA (remember GITMO?), Germany (if you can remember Tiananmen Square in 1989 then, if you’re going so far back into history, you should maybe also remember WWII) and many other countries.
There is also the hypocritical angle here. You have people in Guernsey criticising totalitarian states in a situation where all of the laws concerning the financial services industry in Guernsey go through the States on the nod, without any examination or debate, and the GFSC is allowed to persecute people way beyond what the European Human Rights legislation allows without any examination, review or debate.
In my dictionary “totalitarian” means, authoritarian, dictatorial, tyrannous, oppressive, autocratic, and despotic – if that doesn’t describe the financial services industry in Guernsey in general and the GFSC in particular then I do not know what does.
“Specks and planks” come to mind.
Report abuse
The present Russian regime seems, from the outside, to be even more corrupt, if anything, than the Nazis.
Perhaps, Peter ‘John the Baptist’ Niven can tell us what the Guernsey finance industry line is on bribery, blackmail and gangsterism.
Report abuse
Remember, remember. 1974.
The totalitarian is not the issue. The corruption and fraud are.
Report abuse
Scarlett
Same as Switzerland I suppose
Report abuse
Sagaman did you say Russia was the gangster economy?
are you certain you have the right one?
Why not have offices in every country in the world, so our beloved leader and his hangers on, can get there free Jolie’s.
Does anybody in their right mind, think that China will do any business with us.
If you are old enough to remember, when the Dutch French and Spanish growers were shown by us how to we grew tomatoes.
My father was asked to do this, but l will not repeat what he said in french to the Advisory Service.
Report abuse