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Annual Flagship Conference – “Russian Economy: What to Do or Who is to Blame?”


On May 21th, 2019, the Association of European Businesses (AEB) held its 16th Flagship Conference– “Russian Economy: What to Do or Who is to Blame?”

Opening the conference, Philippe Pegorier, Deputy Chairman of the AEB Board, noted that while Russia is now facing challenging times, legal certainty and predictability of business environment are crucial for investors. He marked out several positive changes in the sphere of foreign business development in Russia, such as a new procedure of charging VAT for services provided by foreign organizations in an electronic form. Mr. Pegorier also welcomed the government’s efforts in reducing the bureaucratic hurdles – the so-called “regulatory guillotine”.
The first session was devoted to the role of Russia in the new geopolitical context. Regina von Flemming,  Advisor to the CEO, Accenture, moderated the session. The participants discussed the current international environment, the Russian economy, social policy issues and the place of Russia in Europe and in the world in the new geo-economic and political realities.

The second session was devoted to the position of the European investors on the Russian market. It was moderated by Frank Schauff, AEB CEO. The speakers shared their first-hand experience in doing business in Russia and their views on the challenges the European investors had to face nowadays. They also discussed the role the European companies were playing in development and modernization of Russian economy.
Summarizing the conference, foreign investors stressed that they still believe in Russia's economic potential and are hopeful about the creation of appropriate conditions for doing business.