FORM A COMPANY NOW

REQUEST
CALL BACK

FREE CASE EVALUATION

Russia's Economic Recovery Good for Finnish Companies

The Russian economy is showing the first signs of recovery after several years in which it did not fare so well. This increase is most welcomed by Finland, one of the countries Russia has important trading relations with. Finland was heavily damaged by the sanctions the EU imposed to Russia during the last months. Our lawyers in Russia can help foreign investors to open companies here.

The industry to show first signs of recovery in Russia

The economic growth was first seen in the Russian industrial sector, according to specialists. The economy has finally reached its turning point and started to recover as the industrial segment is on the rise once more. So is the manufacturing industry which has become quite competitive when it comes to number of imported products.

After declining in 2008 and 2009, the Russian economy made a quick recovery and now it is at the same level as it was before 2008 and thus proving how resilient it is. This increase is mainly due to the oil prices, according to analysts. The oil and gas industry is expected to remain the main engine of the economy, as Russian companies are predicted to increase their production levels. The fluctuations of the Russian ruble have also helped the business environment, as it created the path towards economic adjustment.

As mentioned above, the manufacturing industry in one of the sectors registering considerable economic growth. Among the most competitive clusters are the production of chemicals, pharmaceuticals, fertilizers and machinery equipment which are destined to export, especially to Finland.

Russia’s economic ties with Finland

The two countries’ relations are also close because a large number of Russian citizens have chosen Finland as their vacation destination for year now.

Finland is also a heavy investor, being in the top 10 foreign investors in Russia, which is why Finnish companies have welcomed the news about the country’s economic recovery. According to specialists, Finnish companies have registered great successes when investing in Russia which is why they are now expecting for new possibilities.

For more information on the legislation on foreign investments, you can contact our Russian law firm.