俄罗斯的外商直接投资简介

沙木松

(首都经济贸易大学，北京朝阳100026)中图分类号：F12文献标识码：A文章编号：1003-2738（2012）02-0336-01

摘要：目前俄罗斯在社会各个领域，尤其是在经济领域进行发展市场经济改革。在俄罗斯经济的迅速崛起之际，在这个阶段的决定性条件是恢复和增加在各个行业和地区的投资。投资是“阿基米德的杠杆”表现在可持续发展和稳定经济效应。这样会创造新业务和新的就业机会，使发展先进的技术和资本升级，促进生产集约化，给新产品和服务提供上市机会。这毫无疑问对生产者和消费者、投资者和国家是一种整体的利益。目前在俄罗斯的投资活动的问题可以圆满解决，但这取决于受自身的生产和更有效的投资政策。政府的政策应当在各个行业，地区和经济实体创造一个有利的投资环境。因此，目前投资领域的人才培训和再培训是在俄罗斯经济中具有特殊意义。

关键词：俄罗斯；金融；外商直接投资

OutlookonRussianFDI

DorzhievZhamso

Absttract:Russiamovestoamarketeconomyandimplementingreformsinallspheresofsociety,especiallyintheeconomy.ThedecisiveconditionfortherapidriseoftheRussianeconomyatthisstageistorestoreandincreaseinvestmentsinvariousindustriesandregions.Investmentsarethe"Archimedeanleverof"sustainabledevelopmentandpositiveeconomicperformance.Theycreatenewbusinessesandnewjobs,allowtodevelopadvancedtechnologiesandupgradecapital,contributetotheintensificationofproduction,provideaccesstothemarketofnewproductsandservices.Thisbringsthebenefitofconsumersandproducers,investorsandthestateasawhole.ThecurrentproblemofinvestmentactivityinRussiacanberesolvedsuccessfully,butsubjecttoitsownproductionandmoreefficientinvestmentpolicy.Itisagovernmentpolicyincreatingafavorableinvestmentclimateinthecountryandtheinvestmentactivityatthelevelofinpidualindustries,regionsandeconomicentities.Therefore,trainingandretrainingofspecialistsinthefieldofinvestmentnowfortheRussianeconomyisofparticularrelevance.Keywords:Russia;Finance;FDI

TheinvestmentclimateinRussia

Theinflowsofforeigncapitalinanycountry,aswellastheefficiencyofinvestmentaredeterminedbythebenefitsoftheinvestmentclimateinthecountry.

ThemainobstaclestotheinflowofforeigncapitalintoRussiaarebyinsufficientlaws,excessivetaxes,thereisnomechanismtoprotectforeigninvestment,crimerate,thespreadofcorruption.Manyforeignbusinessmenlastnameasthemaincause,butalsoemphasizetheinstabilityofthe''rulesofthegame.''

AnecessaryconditionforattractingforeigncapitalintoRussiaisfightingcriminals.Theinternationaleconomyisincreasinglytheroleofsmallandmediuminvestors,andtheyarethemaintargetsofcriminalorganizations.Themajorreasonislackofinvestmentiscriminalityinoursociety.

Inrecentyears,RussiahaslostanappreciableamountofactualforeigninvestorswhoarewillingtoinvestinRussiancompanies,butwereforcedtoabandonit.Thereasonsforrefusalare:

Highcostsand,consequently,thelackofcompetitivenessofproductioninRussia;

SophisticatedandcomplicatedmethodsofregistrationofinvestmentinRussianenterprises;

IntransigenceofRussianpartners,aswellastheirinadequateassessmentofthecontributionoftheRussianside;

AsharpdiscrepancybetweenwordsanddeedsofRussianleadersandofficials(almostallcompanieshavecomplainedthatthemeetingswithRussianleadersahighlevel-governmentofficials,ministers,headsoftheRussianFederation-theyhaveassuredthattheywillprovideassistanceinaddressingemergingproblems,butwhenitcomestotheexecutors,themotioniscompletelystopped);

UnavailabilityofheadsofRussiancompaniestotakeconcreteactionandcooperationwithforeigninvestors,alowlevelofmanagement.

ExtremelyseriousproblemistheregulationofthecustomsregimeinRussia.Currently,anumberofforeigncompanies,realizingtheimport-substitutionprojects,facedwithasituationinwhichtheexistingratesofcustomsdutiesonrawmaterials,componentsandfinishedgoodsproductioninRussiamakeitinappropriate.TheWesternpress,thisphenomenonhasbeencalled''syndromeIBM''.IBMwasforcedtoturntheassemblyofcomputersinRussiaduetothefactthatimportdutiesoncomponentswerehigherthanforimportedpersonalcomputers.

Unfavorableinvestmentclimateforthecountryhostingtheinvestment,therealmonetaryvalue,whichestimatedeconomiclossduetoshortfallsinsignificantinvestmentandlowefficiency"working"capital.

ForpotentialinvestorsinRussiaintheanalysisofthepoliticalsituationplaysacrucialroleingovernmentpolicyonforeigninvestment,thelikelihoodofnationalizationofforeignproperty,thecountry'sparticipationinthesystemsofinternationalagreementsonvariousissues,thestrengthofstateinstitutions,thecontinuityofpoliticalauthority,thedegreeofstateinterventionintheeconomy,etc.etc.

Theinvestmentclimatenegativelyaffectnotonlydirectrestrictionsontheactivitiesofforeignfirmsinthelaw,butalsotheblurringandinstabilityoflegislationparticularlythehostcountry,sinceitdeprivestheinvestorthepossibilityofinstabilitytopredictthedevelopmentofevents,whichreducesthereturnoninvestment.

OnemanifestationofthecrisisintheRussianeconomyistheinvestmentcrisis,whichmeanslong-termdecliningtrendofinvestmentand,consequently,therapidobsolescenceoffixedassetsandtherebyendangeringnotonlythelossofcompetitiveness,butalsothepossibilityoftheexistenceofmanycompaniesandindustries.Recoveringfromthecrisisdependsonthesolutioninvestment.

Amongthemaineconomicparametersconsideredwhenassessingtheinvestmentclimateonthegeneralstateoftheeconomy,thesituationinthemonetary,financialandcreditsystems,customsregime,theuseoflabor(laborcostsanditscorrelationwiththeaveragelevelofskillsandproductivity).

Greaterroleinassessingthesocialenvironmentforinvestmentareindicatorsrelatedtoforeigninvestmentinthecommunity,thedegreeofstratification,thepresenceorabsenceofagreementonbasicissuesofeconomicandsocialdevelopment,unemployment,thepossibilityofstrikes.

ThepotentialoftheRussianmarket

Thisindicatorismeasuredbypopulation,GNPandthevalueofGNPpercapita.

ThesinglemarketoftheformerSovietUnionhadinitsscopeandpotential(numberofcustomers)advantageoverthemarketsofEasternEurope.Atthesametime,thepurchasingpowerofthepopulation(measuredbyincomeofthepopulation,GNPandGNPpercapita)waslowerherethan,forexample,inCzechoslovakia,HungaryandPoland.ThenumberofpotentialconsumersisamoreimportantfactorinassessingthemarketpotentialoflargeWesterncompanies,inwhichproductionisbasedontheprincipleofmassconsumptionstandards.ForthesefirmsasinglemarketoftheformerSovietUnionwasmoreattractivethanthemarketsofEasternEuropeancountries.Forsmallandmedium-sizedcompanies,inwhichproductionisbasedoninpidualizedconsumption,thedecisivefactorinassessingthepotentialofforeignmarketsisthepurchasingpowerofthepopulation,andforthemthesinglemarketoftheformerSovietUnionlostincomparisonwithmarketsinCzechoslovakia,HungaryandPoland.

Formostcompanies,accordingtomanyWesternobservers,thepotentialofthesinglemarkettheformerSovietUnionhaslongbeenregardedasahugeandwasamajorincentiveforinvestors.

Present-dayrealitiesaresuchthatasaresultofpoliticalchangesandthedisintegrationofstatesthatwerepartoftheSovietUnion,largelylostthisadvantageandexceptionallycapacioussinglemarket.NotasinglemarketandtheCISStates.

Today,amongtheCISmemberstatesclearlydelineatedgroup,whoseleaderswereproposingacoherenteconomicpolicyandintegration.ThisisRussia,BelarusandKazakhstan.Governmentsofthesecountriessignedanagreementaimedatrestoringthebrokenproductionrelations,coordinationoftaxandpricepolicies,theorganizationofthenormaloperationoftransportandotheraspectsthatensurethefunctioningofthecommonmarket.

OtherCIScountries,suchastheUkraine,increasinglyisolatingtheirmarket.Undertheseconditions,thepotentialinvestorisforcedtoorienttothemarketsofinpidualcountries-formerSovietrepublics.

TrendsinthedisintegrationoftheRussianFederationhaveanegativeimpactontheoverallappreciationofthepotentialofthesinglemarketandsignificantlyreducetheimportanceofthisfactorforforeigninvestors.

LaborresourcesinRussiaattractedforeigninvestorsabundance,cheapness,andhighqualifications.ThelevelofwagesinRussiaareestimatedU.S.consultingfirm,"EconomicsPlano"didnotexceed3-3.5dollarsperhourandhasfallenfar,farlowerthaninWesterncountries(e.g.Francetheminimumhourlywageis5.4dollarsinU.S.$6).

Underpresentconditionsthereisaneedtore-evaluatethebenefitsofRussia'sabilitytoattractFDI.ThereisnodoubtthattheabilityoftheRussianmarketorexitthroughRussiatothemarketsofthirdcountriesarefarfromexhausted,aswellasnaturalresources.Butwemustbearinmindthatwhenchoosingthelocationoftheinvestmentsinglobalmarketsinvestorsareguidedbycomplexconsiderations.Formanycountries,especiallythemostdevelopedintheforefrontratherthancheaplabor,asherskills,attitudetoworkandotherqualityparameters.

ThecheapnessofthesamequalificationsandtheRussianworkforceislargelyamyth.Russianlaborforceisrelativelycheapinrelationtomarketeconomies,butnotincomparisontomanydevelopingcountries.Asinotherdevelopingcountries,itspriceincreases.

However,withthequalityparametersofRussia'slaborsituationisnotquiteright.

RatingsofSwissInstituteofBeriinqualityoflabor(integralindexofqualityoflaboriscalculatedasaweightedaverageof4components:laborlawandcollectivebargainingagreements,therelationshipbetweenwagelevelsandlaborproductivity,labordisciplineandattitudetowork,skillsofworkers)arenotconfirmthewidespreadviewofthepresenceofthecompetitiveadvantagesofRussiainthisfield.

Russia,accordingtothisranking,isonlyathirdofthefourdesignatedgroupsfrom49states.Thethirdgroupcomprisescountrieswhereinprinciplewecanallocatecapital,buttheconditionsforthisarenotverygood.ThisassessmentofthequalityoftheRussianworkforceistheresultofbadevaluationsofinpidualperformance.Ifthestatelaborlaws,collectivebargainingagreements,employeequalificationsareevaluatedwithrespecttotheaveragelevel,workdisciplineandattitudetowork,therelationshipbetweenwagelevelsandproductivity-isverylow.

Russiahasahighlydevelopedscientificpotentialandagoodleveloftechnologyandscientificdevelopments,particularlythemilitary.

IntheformerSovietUniontoworkmorethan5,000scientificresearchinstitutes,mostofwhichfocusedonRussia.Sovietscientistsattheforefrontofmanyscientificandtechnicalresearch.Examplesincludeaerospace,metallurgy,researchinextremecold,thedevelopmentofmedicalinstruments,selectionofworkinextremeclimaticconditions.

Unfortunately,inRussiathesituationinscienceisnotonlynotimprovedbutdeterioratedsharplyduetoreducedresearchfundingfromthebudget.

Russiaiswellprovidedwiththeirownnaturalresources,rawmaterialsandenergy.Itsterritory(17millionsq.km.)Morethan7timestheterritoryoccupiedbyalltheEUcountries.

Russiahassignificantwaterandvegetation,inparticular,itleadstopossessthemostvaluableintheeconomicfieldofforestresources.Focusedonitsterritoryoccupyingoneofthefirstplacesintheworldofstocksofcommercialfishandgameanimals.Russiaisthelargestproducerofcrudeoilandnaturalgas.However,theinfrastructurecanonlybeassessedasverypoor.InRussia,theverylowdensityofrailwaysandroads(25timeslowerthaninGermany,10timeslowerthaninPoland).

RussialagsfarbehindWesternandmanyEasternEuropeancountriesintermsoftelecommunicationsdevelopment.IfintheSweden's100residentsaccountedfor63telephonesintheUSA-50-39inJapan,theninRussia-10devices.Bythenumberofcomputersconnectedtocommunicationnetworks,RussialagsbehindtheU.S.inabout300-500times.

WecanconcludethateventhoughRussiahasarichresourcepotential,therealizationofopportunitiesavailableheredirectlyrelatedtotheflowofeconomicreforms,thelegislativeframeworkandpoliticalenvironmentforinvestment.

Conclusion

AtthepresenttimeinRussia,unfavorableconditionsforforeigninvestment.Thisisduetopoorinvestmentclimateingeneral,theunstablepoliticalsituation,thecontinuingeconomicdownturn,poorinfrastructure(financial,transport,serviceinthefieldofcommunications).Hightaxes,legalexposureandfailuretoresolvemanyissuesofownershiparenotconducivetoinvestmentingeneral,andforeign,inparticular.Oneofthemainreasonsforthelowactivityofforeigninvestors-arenotconducivetoforeigninvestmentpolicyofthestate,thelackofthemforMFN,whichwascreatedinmanydevelopingcountriesandprovidesahighimpact.Foreigninvestorsaredeterredinconsistencyofeconomicpolicy,constantlychangingthe"rulesofthegame."OnefeatureofscaringoffforeigninvestorsthatRussiaistheRussianwayofthinking.ItisverydifficulttoreorientpeopletounfamiliarsovietRussia(thoughinthepast)marketeconomy.ItisinterestingtoviewRussellMead,whobelievesthatRussiacannotcontroltheirterritory.''Everytime,returningfromRussia,Iammoreandmorestrengthenedintheconviction:nobillionsinvestedWestintotheRussianeconomywillnotdohergood.It'slikespittingintothefire.''MostdevastatingandhopelessfeatureinRussiaasobviousinVlapostok,aswellasinTyumenandMoscow,isthelackofworkethic.''Theystealeverythinghere.Workerssteal.Therefore,theyarenotinterestedinefficiencyandcostofrawmaterials.Waiterssteal,sotheyarenotinterestedincustomers.Armyofficialssteal,sotheyarenotinterestedinimprovingmilitarydisciplineandtoestablishorderinthearmy.UndertheRussiansystemnofreeeconomydoesnotwork.''

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