Izvestiya of Saratov University.

Economics. Management. Law

ISSN 1994-2540 (Print)
ISSN 2542-1956 (Online)

Full text PDF(Ru):
Article type: 

The Investment Climate in Russia and Its Impact on the Investment Activities of Companies of the Fuel and Energy Industry

Sadеkov I. Т., Moscow City Pedagogical University

 More than 10 years the Government of the Russian Federation has addressed the issue of improving the investment climate. Inspite of it, the investment climate in the country remains poor, and the rating of investment attractiveness of the Russian Federation has a negative trend. Theoretical analysis. Investment activity of energy companies is associated with many problems associated with both the organization and planning of the process within the organization and the interaction with all external involved actors, including the issues of required attracting external funding. Results. Measures to encourage foreign direct investment do not have a practical nature and do not solve the basic problems: corruption, poor infrastructure, lack of tax benefits, and political risks. Against this background, taking into account the increased political risk in oil and gas projects with the participation of foreign capital is negligible. Rating of investment attractiveness of the Russian Federation has a negative trend. Conclusions. At the moment, the measures taken by the Russian government to improve the investment climate do not lead to the desired results. This trend is related to the lack of actual change in support of investment processes, as well as the lack of an integrated program to stimulate foreign direct investment. As the professional environment responds only the specific facts supporting the changes, foreign direct investment has not changed. Under such conditions the public investment are particularly important. The effectiveness of public investment becomes the determining factor in the development of the economy in the current decade.

  1. Hismatullin I. R. Osobennosti investitsionnogo klimata Rossii na sovremennom etape [Features of the investment climate in Russia at the present stage]. Sovremennye issledovanija sotsialnyh problem [Modern studies of social problems], 2012, no. 9, pp. 5–6.
  2. Spravka ob investitsiyakh (Statement of Investments). Ministerstvo ekonomicheskogo razvitiya RF (The Ministry of Economic Development Russian Federation, 2012). Available at: http://www.economy.gov.ru/wps/wcm/connect/economylib4/mer/activity/sections/investmentpolicy/doc20121029_08  (accessed 09 February 2013).
  3. Poslanie Prezidenta Federalnomu Sobraniyu [President’s speech Russian Federal Assembly]. Rossiyskaya Gazeta [Russian newspaper], 2012, no. 287(5960).
  4. Robertus V. V. Investitsionnaya deyatelnost toplivnoenergeticheskogo kompleksa kak faktor obespecheniya ekonomicheskoy bezopasnosti Rossiyskoy Federatsii. Dis. kand. ekon. nauk [Investment activity of the fuel and energy industry as a factor in ensuring economic security of the Russian Federation. Cand. econ. sci. diss.]. Moscow, 2010. 180 p. (in Russian).
  5. O nekotorykh merakh po povysheniyu energeticheskoy i ekologicheskoy effektivnosti rossiyskoy ekonomiki. Ukaz Prezidenta RF ot 04.06.2008 № 889 (On some measures to improve the energy and environmental effi ciency of the Russian economy. RF Presidential Decree of 04.06.2008 № 889). Available at: http://www.kremlin.ru/news/313  (accessed 09 February 2013).
  6. Rossiyskiy statisticheskiy ezhegodnik. Federalnaya sluzhba gosudarstvennoy statistiki [Statistical Yearbook of Russia. Federal State Statistics Service]. Moscow, 2012. 786 p.
  7. Neftyanaya i neftepererabatyvayushchaya promyshlennost Rossii 2012-2020 gg. Investitsionnye proekty i opisanie kompaniy. Informatsionnoe agentstvo Infoline [Petroleum and petroleum-refining industry 2012- 2020 of Russia. Investment projects and company descriptions. News agency Infoline]. Moscow, 2012. 720 p.
  8. Pryamye inostrannye investitsii v rossiyskuyu ekonomiku v 2011 godu: uvelichenie masshtaba proektov [Foreign direct investment to the Russian economy in 2011: an increase in the scale of projects]. Potentsial rosta, Ernst end Yang (SNG) B.V. [Upside, Ernst & Young (CIS) B.V.]. Moscow, 2012. 52 p.
  9. Vse investitsionnye proekty na territorii Rossii (s 1 noyabrya 2011 goda po 31 yanvarya 2012 goda) (All investment projects on the territory of Russia (from 1 November 2011 to 31 January 2012)). Ekspert (Expert), 2012, no. 16(799). Available at: http://www.expert.ru/ratings/vse-investitsionnyie-proektyi-na-territorii-rossii-s-1-noyabrya-2011-goda-po-31-yanvarya-2012-goda/  (accessed 14 February 2013)