Head of Ernst & Young predicts growth of foreign investments in Russia

GORKI. Oct 21 (Interfax) – The world’s largest companies are planning to increase investments in Russia soon, Mark Weinberger, Global Chairman & CEO of Ernst & Young, said.

Weinberger told journalists after a Foreign Investment Advisory Council meeting that “68% of the companies who invest in Russia are planning on increasing investments soon.”

He also said that “if we look at the companies who do not have investing experience in Russia and who do not see the benefits connected with the growth of the middle class and economic reforms, then we do not see the same level of interest.”

“This is our homework. The investors who do not yet have any work experience in Russia and cannot assess the existing risks and earning profile – this is a huge area of work for us,” the Economic Development Minister Alexei Ulyukayev said in reply.