said Oleg Dorin of Saint-Gobain. - CCIFR
said Oleg Dorin of Saint-Gobain. - CCIFR
said Oleg Dorin of Saint-Gobain. - CCIFR
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Eighty percent <strong>of</strong> residential buildings are delivered without finished interiors, industry members <strong>said</strong>, which promotes the sale <strong>of</strong> construction materials to consumers.<br />
“There is a clear mechanism in place in the<br />
Nizhny Novgorod region for making decisions<br />
on investment projects,“ <strong>said</strong> the press <strong>of</strong>fice <strong>of</strong><br />
the government in the Nizhny Novgorod region.<br />
Introducing its 'One Window' system for investors<br />
allowed it to reduce waiting periods for<br />
decisions and time filling out paperwork from<br />
about 1 1/2 to two years to only three months,<br />
it <strong>said</strong>.<br />
Within the framework <strong>of</strong> a meeting <strong>of</strong> the<br />
governor's investment board, the board members<br />
agree on the spot whether to accept or deny an<br />
investment project.<br />
Because <strong>of</strong> regulations that are in place,<br />
the region’s authorities narrow its field to a<br />
simple informal relationship between inves-<br />
tors and authorities, which is much better, and<br />
very different from the way business is done in<br />
Russia’s other regions. The region has legislatively<br />
strengthened its system <strong>of</strong> benefits and<br />
guarantees for projects that are a priority for<br />
the region.“<br />
As a result, the amount <strong>of</strong> foreign investments<br />
continue to grow in the region, investment<br />
in fixed capital has increased more than<br />
three times in the past few years, and the volume<br />
<strong>of</strong> saved investments increased in 2010 to<br />
1.5 trillion rubles ($53 billion).<br />
To date, 4,500 investment projects have<br />
been approved, and 62 projects received the<br />
status <strong>of</strong> high priority, which gives investors<br />
correspondingly preferential treatment,<br />
COMPANY STATS<br />
Onduline - Construction Material (Nizhny Novgorod)<br />
Manufacturer <strong>of</strong> ro<strong>of</strong>ing sheets<br />
Owner: French manufacturer <strong>of</strong> ro<strong>of</strong>ing materials Onduline SA (100 percent)<br />
Financial results (company information for 2009):<br />
Revenue: 1.22 billion rubles ($43 million)<br />
Net pr<strong>of</strong>it: 311.1 million rubles ($11 million)<br />
MAXIM STULOV / VEDOMOSTI<br />
according to a prepared statement by the press<br />
<strong>of</strong>fice.<br />
“If businessmen in the West are turned<br />
<strong>of</strong>f by the political climate, people who are<br />
acquainted with the Russian economy in practice<br />
are more concerned by the creditworthiness<br />
<strong>of</strong> partners and corruption in government<br />
agencies,” <strong>said</strong> Nikolai Solabuto, asset manager<br />
for the holding company <strong>of</strong> the brokerage<br />
firm BKC.<br />
Solabuto <strong>said</strong> the first main risk for business<br />
in Russia is credit risks and those risks<br />
related to the credit worthiness <strong>of</strong> partners.<br />
In second place are market or competitive<br />
risks (simply put, businessmen are concerned<br />
about strong direct competition from rival<br />
companies). In third place are regulatory<br />
risks related to the legal framework. In fourth<br />
place are currency risks and liquidity risks,<br />
followed by concern over corruption in the<br />
government.<br />
However, all <strong>of</strong> these risks in practice have<br />
not stopped the inflow <strong>of</strong> foreign investments to<br />
promising projects in Russia’s growing economy.<br />
This trend, according to experts, will be relevant<br />
in the foreseeable future, as well.<br />
<strong>Saint</strong>-<strong>Gobain</strong> Construction Material Rus<br />
Manufacturer <strong>of</strong> construction materials (drywall mixtures, drywall panels and isolating materials).<br />
Co-owners: French <strong>Saint</strong>-<strong>Gobain</strong> (87.4 percent), EBRR (12.6 percent)<br />
Financial results (company information for 2009):<br />
Revenue: 3.4 billion rubles ($121 million)<br />
Net pr<strong>of</strong>it: 156.5 million rubles ($5.6 million)<br />
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