British business wants to invest in the health and education of the Russian Federation

British business wants to invest in the health and education of the Russian Federation

Are considered long-term investments in these promising areas, said Director of the Russian-British chamber of Commerce Alan Thompson. He noted that business interests of Federal and regional support of small and medium enterprises and exports.

MOSCOW, 20 Oct. British business retains an interest in projects in Russia, despite the ambiguous geopolitical conditions and a difficult situation in the Russian economy, as the most promising spheres of cooperation are discussed health, education and development for small and medium business, said in an interview with the Director of the Russian-British chamber of Commerce Alan Thompson.

On Wednesday, 21 January, businessmen from the Russian Federation and great Britain will meet at the annual investment forum RussiaTALK, that is held by the Russo-British chamber of Commerce and chamber of Commerce and industry of the Russian Federation. The forum will discuss the most significant current events in the economic life of the two countries.

Promising topics

“The most promising areas that we will address at an investment forum RussiaTALK investment in medical industry in the UK. It seems to be very promising, because there are transformation in the Ministry of health, in the sector as a whole. Pharmaceutical companies (from the UK — ed), who are present here, consider various options for the development of local production,” notes Thompson.

According to the head of the chamber, are considered long-term investments in this industry. “The experience that exists in the UK regarding nursing homes, in private medicine and in the form of public-private partnership, to share, to cooperate. This is one of the priority areas,” he said.

“Another promising industry we think educational direction. Starting from language schools and to joint University programs. For example, the existing programme of joint diplomas of Tomsk Polytechnic University and Heriot-Watt University in Edinburgh,” continued Thompson. He expressed the hope that similar programmes will be organized in the field of applied engineering and healthcare industry.

At the conference, said Thompson, there will be three major sessions. “Macroeconomic — that our bilateral relationship where we go, the prospects of cooperation. The main attention will be paid to the business, how does it feel to get feedback,” he said.

In addition, the business will discuss Federal and regional support of small and medium enterprises and exports. In this session, representatives of the Department of small and average business the MAYOR, EXIAR, the Agency for support of small and medium business, CCI of Russia.

“We expect to give companies from the RF algorithm, to enable them to prepare and to establish export deliveries, we will help them discover the British market”, — believes the head of the chamber.

The contacts are saved

Speaking about what has changed in the work of British business in Russia after the introduction of mutual sanctions with the West, Thompson noted: “In General, companies experience difficulties with capital, loans. The number of British banks and companies who previously could easily participate in those or other credit or investment projects has decreased. Their plans were not cancelled and were postponed in anticipation of other sources of money.”

However, he stressed that those companies which are present in the Russian Federation, maintain their interest in the Russian market. “We see that those who have good contacts with their partners cope. If to speak about those companies that were considering entering or increasing investment in the Russian market, there are also some companies that have found a way to cope. I think those who wanted, found opportunities and work,” he said.

Thompson recalled that in March, the chamber jointly with the Agency for strategic initiatives held a road show in London, which was attended by 200-250 British companies.

First of all, there were presented five regions: Kaluga, Tula, Leningrad, Nizhny Novgorod and Rostov region. “Kaluga region is in demand from the point of view of attracting investors. Because of the number of existing investments, they know how to actively communicate with investors”, — said the head of the chamber.

“But I wouldn’t say that British companies limit themselves in something from a geographical point of view in Russia. They go where they are most interesting. Where there may be a weaving community or light industry, Ivanovo consider, for example, has long-standing connections between Ivanovo and Manchester. So everyone more or less is what he’s looking for,” concluded Thompson.