Venture to Russia with IE Singapore
Richest BRIC country
Russia is one of the world’s largest economies and has the highest per capita GDP among the BRIC economies (Brazil, Russia, India and China) of $26,9001. Its consumer market continues to grow at a rate exceeding that of most mature markets.
Flourishing resource sector
A flourishing natural resource sector based around natural gas, oil, coal, precious metals, diamonds and fertilizers provides Russia with a significant and stable source of income, which propels growth and in turn spurs investments in other sectors.
Access to the region
In 2012, the Eurasian Economic Space was established to achieve the free movement of goods, capital and labour between Russia and the neighbouring countries of Belarus and Kazakhstan. In 2015, this grouping was enlarged to include Armenia and Kyrgyzstan. Foreign investors in Russia thus enjoy easier access to these other states, making Russia an ideal base for expansion into the region.
Venture to Russia
As the world’s largest country by land area and ninth largest by population, Russia offers similarly vast opportunities. It has the world’s largest reserves of mineral and energy resources, is considered an energy superpower, and is also the largest consumer market in Europe with a population of over 142 million.
Find out what Russia’s recovering economy means for your business.
1: CIA World Factbook, 2016