The Russia Forum 2013
 
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News

 

Words of Wisdom

 

  • Igor Komarov, President of AVTOVAZ:

    “Asking whether the government should intervene in the economy or help save private businesses is like asking whether a doctor should intervene in our lives. In certain situations, it’s necessary. When a factory is in a coma, there’s no other way.”

     

  • Arkady Volozh, General Director, Yandex:

    “Russia is one of the few countries in which the education level of the population is a very strong asset. And this asset works. In the 1990s and beginning of the 2000s, a lot of our engineers were driving the IT industry and are now driving Internet technology. All the companies that dominate the domestic market are local Russian companies. The two largest European Internet companies in Europe are both in Russia.”

     

  • Elvira Nabiullina, Aide to the President of the Russian Federation:

    “What happened in Cyprus was very dangerous because a fundamental principle of trust was violated. Citizens shouldn’t have to pay for the mistakes of the regulator…The lesson for the mega-regulator is that macroprudential oversight needs to be strengthened.”

     

  • David Bonderman, Principal and Founding Partner, TPG:

    “Russia is a large and attractive market as the consumer sector has grown from a low base to overtake most countries in Europe. However, as an emerging market it continues to have many issues. The West has a negative perception of Russia as a result of its position as a former superpower, and its flaws are always in the spotlight as a result, perhaps unfairly.”

     

  • Ivan Glasenberg, CEO, Glencore:

    “We also need to see Russian companies themselves investing in their assets, building new mines and plants, inviting foreign investors to provide the capital. And the government has to ensure the ownership rights will be observed.”

     

  • Vaclav Klaus, Former President of the Czech Republic:

    “There is no way to accelerate economic growth without solving the political issues in Europe. European politicians must stop their indecision and they must do something, but it does not mean centralizing more. On the contrary, they must do the opposite and increase the role of individual member states.”

     

  • Alexei Kudrin, Head of Committee of Civil Initiatives and Dean of the School of Liberal Arts and Sciences at Saint Petersburg State University:

    “Russia will shake off its dependency on oil, without question, thanks to the role which will be played by new goods and sources of energy as well as new possibilities which Russia will take advantage of. And of course by a series of reforms aimed at the political system, system of institutions, and the economy—all of which will create new possibilities for business.”

     

  • Herman Gref, Chairman of the Board, CEO, Sberbank of Russia:

    “Efficiency and productivity are the orders of the day. And these issues are hindering the quality of corporate management and government administration. As a result, the discussion should center on topics such as management quality, institutional reforms, creating a favorable business climate, supporting small and medium-sized business, and raising the effectiveness of all structures, starting with medium-sized and large companies and all government structures.”

     

  • Sergey Sobyanin, Mayor of Moscow:

    “One of the most promising areas for investment is development, especially in connection with the expansion of Moscow and the rebuilding of the industrial parts of the city. There are more than enough avenues for investors.”

     

  • Herman Gref, CEO, Chairman of the Management Board of Sberbank of Russia:

    “Russia is a large country with the world’s largest non-financial companies and potentially large amounts of domestic savings. So the potential is there [to create an international financial center in Moscow].”

     
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