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How to do business in Russia

Author: Fey, Carl F. ; Shekshnia, StanislavINSEAD Area: Entrepreneurship and Family EnterpriseIn: Wall Street Journal Europe, 29/10/2007 Language: EnglishDescription: p. R8.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: Russia has much to attract foreign investors - a fast rate of growth in gross domestic product, a large population and a substantial expansion in purchasing power. But its unique and sometimes murky business environment has left the country with a reputation for being a difficult place to set up shop. How can international companies overcome the difficulties and reap the rewards of doing business in Russia? Based on interviews with executives from 36 foreign companies operating in Russia, as well as our own business experience there, here are eight commandments aimed at helping Western companies prosper.
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Russia has much to attract foreign investors - a fast rate of growth in gross domestic product, a large population and a substantial expansion in purchasing power. But its unique and sometimes murky business environment has left the country with a reputation for being a difficult place to set up shop. How can international companies overcome the difficulties and reap the rewards of doing business in Russia? Based on interviews with executives from 36 foreign companies operating in Russia, as well as our own business experience there, here are eight commandments aimed at helping Western companies prosper.

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