Investments: foreigner has seized consumer market to Russia

19th of December 2012
The Russian authorities far from first year speak of need of the improvement of the investment climate in country for attraction foreign investor moreover not profiteer, but serious портфельных investor ready with the whole gravity to develop the business in Russia.

However value efficiency received a visit at this direction of the measures it is enough in a complicated way. This is because exact given about foreign participation in russian business доподлинно an unknown since for foreign shareholder зачастую escape the beneficiaries from Russia. Not secret that, as of same Rosstata, the largest foreign investor in russian assets - a Cyprus, but all understand that arrival of the money from this island in RF, on essences, is возращением russian capital, found out from country in different financial purpose.

We Try to realize, so much foreign investors were submitted for russian market, changed situation with foreign investor in our country in recent years and cost(stand)s return the иностранцам luscious piece the most largest domestic asset.

Hidden numerals

If analyse the deals of the mergings and absorptions with participation of the foreign buyers for the last several years, that appears the curious picture: russian companies buy more asset overseas, than foreigner in Russia. As of KPMG, the lion's share of the contracts for russian market of the mergings and absorptions in 2007-2011гг. accounted for deals between domestic companies, hereinafter on volume of the deals follow the investments of the companies from RF for border, and minority of such deals - a buying foreigner russian asset.

The Share of the real participation foreign investor as final beneficiary in russian industrial exchange "chip" presently forms at the average from 10% before 40%, including from 10% before 30% belongs to the foreign player-profiteer, and only remained small part is found in hand branch strategic investor, brings their own estimations a chief of the department corporative analysis of the bank "Petrokommerc" Evgeniy Dorofeev.

The Foreign investor, in the opinion of expert, traditionally most of all attract the companies in russian нефтегазовом sector, metallurgy, gaining industry and consumer sector. Besides, foreigner are actively interested by russian bank sector. On estimation Ernst & Young, for present-day day foreign investor belongs to approximately fifth part asset russian credit organization.

It Is Made in Russia

Probably, practically each россиянин in its everyday life anyway faces with consequence foreign investment in russian economy, buying goods of the foreign producers, made in Russia. So detailed stop on investment in consumer sector. Same "Vimm-Bill-Dann Products of the Feeding" since September past year on 100% belongs to the leadinging american producer a drink and products of the feeding PepsiCo Inc. Britano-netherland company Unilever Plc in 2011г. also has vastly increased its presence on russian market make-up goods and facilities personal hygiene to account of the buying the russian concern "Viburnum", notes in conversation with RBK partner KPMG in Russia and C.I.S. SHon MAKKARTI. From number more small, but deserving attention of the deals SH.MAKKARTI selects aquisition in 2011г. italian company DeCecco "First макаронной companies" that became to be first in histories of the companies investment for limits of the Italies.

Not less actively foreign investors are presented and in russian автопроме. So, french-japanese alliance Renault-Nissan already владеет 25% shares AVTOVAZA, but in the future alliance intending to get checking on russian автогигантом. Dialect about investment in domestic автопром, it is impossible also not to note multiple plants in Kaluzhskoy and Leningrad area, on which are going to cars such foreign marks, as Ford, Fiat, Toyota, Volkswagen and others

The Foreign investors try to get and in russian телеиндустрию. So, last year american giant cinema- and телеиндустрии Walt Disney has bought 49% russian federal recreational телеканала "Numeral seven" (former "7 TV"), and now instead of "Numeral sevens" in airwaves broadcasts Disney.

Serious interests

At conclusion of the deal on verse-sale that or other asset each side, certainly, pursues their own interests. In the event of with direct foreign investment foreign investor in the first place interests the large russian market, as well as possibility of the reducing the price of of their own costs to account production in RF, supposes the main strategist "Uralsib Kepital" Vyacheslav Smoliyaninov. Herewith, the foreign buyers will show a preference profitable companies, which occupy the лидирующие positions on russian market and provide the good conditions for growing and transparent business-models, notes the partner KPMG in Russia and C.I.S. SH.MAKKARTI.

As to interest russian sides, that domestic industry, aside from capital, sharply needs for new technology, know-how and international experience for increasing of its competitiveness on мировом market. "Car sector - a good example to branches, where russian companies to manage to attract the foreign investment for "activities" enterprise that allows him to compete on local market with транснациональными corporation, which continue to export in Russia its product, and many from which created the local production powers, putting facility in own new projects", - notes the representative KPMG.

In the opinion of V.SMOLIYANINOVA from "Uralsib Kepital", the use best international practical person, who bring with itself foreign investors, allows to raise capacity of the labour and as a whole competitiveness russian enterprise. As a result quality goods, made in Russia under checking foreign specialist, зачастую turns out to be above. Herewith, the foreign investors understand that non-observance of the behavioural conditions and agreements can bring about serious problem, up to review of the licenses or even nationalizings, as this seasonly does the government of some countries, for instance Venezuela, notes V.SMOLIYANINOV. Thereby, experts do not see the person to dangers in that that foreign investors will доминировать in one apart taken branches of the russian economy.

Greater possibilities

If speak of prospect direct foreign investment in Russia then on background стагнирующей european economy and decelerations of the growing in China possibility инвестирования in russian business as before agitates the interest of the foreign buyers, considers SH.MAKKARTI from KPMG. In the future he expects the growing of the interest investor to such branch of the russian economy, as public health, pharmaceutics, transport and infrastructure. "These branches capable to offer the attractive prospects of the long-term growing and need for additional investment in capital and technologies for continuation of the modernizations of the economy RF", - explains SH.MAKKARTI. As to strategic branches of the russian economy, that, in the opinion of expert, in the future, sooner whole, will there is formed variety of joint-ventures and partnership with international транснациональными corporation for realization new project or modernizations already existing powers and asset.

The Certain interest for foreign business, in the opinion of expert, also presents the грядущая privatization state asset in RF. "Presently to branch with strong state participation is riveted big attention. If will are presented comprehensible and clear rules to privatization, as well as is prescribed interaction state and business, that this positive will tell on process of the privatization", - considers the control partner Ernst & Young on Russia Alexander Ivlev. He assumes, as a result participation foreign investor in russian branch and company with strong state presence will increase. Also, in the opinion of A.Ivleva, influx foreign investor on russian market will promote the integration to Russia in Worldwide trade organization (the VEIN) and Organization economic cooperation and developments (OESR).

Run with obstacle

Together with that, on way direct foreign investment in Russia hitherto cost(stand) the obstacle miscellaneous. In spite of the fact that government RF as a whole supports foreign infusion in russian economy and takes measures on improvement of the investment climate in country, foreign investors continue to speak of difficulty of bureaucracy, on local particularly or regional level, as well as about absence of the transparencies and предсказуемости in performance tax and customs legislation RF, notes SH.MAKKARTI. "At the point russian legislation and judicial practice not always able to provide the level of protection of the rights investor comparable with other large international financial centre", - agrees the partner BDO in Russia Elena Chrome.

In the opinion of E.DOROFEEVA from bank "Petrokommerc", the attitude of the russian powers to foreign investor in recent years in the largest accounts little changed. "Foreigner allow in any branches, but only if real levers of strategic management the most most important asset remain beside подконтрольных authorities structures, which themselves de jure can have and foreign registration", - speaks the expert. In other words, russian authorities estimate foreign funds as potential source to dangers for Russia as sovereign state, explains he. "At degree to readiness to allow the foreigner to possession large area to property in Russia varies back pro rata world prices on raw material and, accordingly, abilities authorities "by itself" develop the corresponding to assets", - adds the analyst.

As to interests foreigner in buying privatized strategic enterprise RF, that here, in the opinion of expert, also can appear the ensemble of the questions. "Will Want buy this asset large direct foreign investor under incomprehensible rule of the play, which are defined by conjuncture and agreement at present and, its queue, can in prospect two-three years. Beside us all plans very long-term, simply they are revised each six months. I think that, sooner whole, such investment foreign investors will avoid", - supposes the main strategist "Uralsib Kepital" V.SMOLIYANINOV.

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