Tatarstan: A unique republic, A unique investment opportunity
Per Kaufmann, CEO of IKEA Russia and Ukraine: “The local administration was very positive and supportive in having us here; that was a main reason for making this our first regional Russian investment outside of Moscow and St Petersburg.”
Umberto della Sala, CEO of Foster Wheeler company: “When we started doing business in Tatarstan several years ago, I could hardly tell you where Kazan was on the map. I was surprised when I paid a visit there to see such a clean, well-developed city. One sometimes worries about working with post-Soviet companies that they will be very bureaucratic. But actually, both Tatneft and the prime minister are very pragmatic, competent,willing to learn and open to all requirements of the global economy.”
Olga Dergunova, CEO, Microsoft Russia & CIS: “An important point is that the republic has created favourable conditions for the federal ministries to be part of the process. They don’t try to do everything themselves but are integrated into the federal strategy, which is important for foreign investors.”
Jean Lemierre, president, EBRD: “Tatarstan’s economy combines natural resource wealth with a strong industrial base. Sound financial management has contributed to an improving business environment and investment climate. Especially important for sustainability is the economic openness of the region, trading as it does with firms in over 60 foreign countries.”
Marc Holtzman, vice-chairman, ABN Amro: “I first visited the republic in 1992, and I’m astonished by how far it’s come in that time. You see shopping malls, fitness clubs, restaurants, five-star hotels. The most amazing thing to me is the emergence of the middle class here.”
Kestutis Sasnauskas, partner, East Capital: “We are very excited about entering the market in Tatarstan through the purchase of a minority stake in Akibank. The region is one of Russia’s richest and Akibank is well placed to capitalize on the strong economic growth and development of a wide range of banking services.”
Adil Shirinov, general director, Severstal-Avto Alabuga: “The region has a great geographical position, 750km from Moscow and connected to the whole Volga region; and it is rich in raw materials that we can use for automobile manufacture.”
