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Western companies still intent on investing in Russia, despite Georgia conflict

Author: Olga Vasilyeva Section: Major Events of the Month

Issue: October 2008, Vol.3, No. 9

Tags: PricewaterhouseCoopersStuttard

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Pragmatic Optimism

Going by the opinions of the speakers at a London conference in September titled, Russia: Opportunities and Challenges, Western businesses are still interested in investing into Russia, despite the Georgia conflict with South Ossetia. John Stuttard, the ex-Lord Mayor of London City and currently the deputy chairman of the Advisory Council of PricewaterhouseCoopers (PwC), noted that the current capital flight from Russia was a temporary event. “All investors are positive on doing business in Russia,” he said, citing the Russian office of PwC and delegates accompanying current London City Lord Mayor David Louis on his Russia tour.