Each PR agency in Russia can’t wait to meet new customers. We are always particularly glad to hear news of new foreign companies in Russia. Today we’ll tell you about the main reasons to enter the Russian market.
Russia has always been an interesting market for foreign companies. First, it is the scale of the market that attracts them. If your product is in demand in 1/6 of the globe, you can’t but agree it is a success. Also, on the plus side is the relatively low cost of labor resources and here you are – it is the utterly compelling and strong reason to enter the Russian market!
There are times when the Russian economy is anything but stable. Alternatively, you get the opportunity to work in emerging market settings, where, as you know, there are always more opportunities.
The rather low competition in many sectors of the Russian economy is likely to be one of the most attractive factors. And this means that your company is well placed to take the lead in its niche in the Russian market.
Admittedly, you should never disregard the reasons for the fears of some investors: the sanctions still not removed, legislation not very favorable and sometimes outdated, and occasional declines in household incomes.
However, countries such as China, Germany, and many others continue to actively invest in the Russian economy and are not going to abandon the strategy. And for sure, they have a good reason for that.
It is worth mentioning that the local government continues to take steps to improve the investment climate in the country. Russia has even adopted a special plan: Business Climate Transformation, which is aimed at simplifying business and investment activities in various sectors of the economy. The actions of the plan are scheduled for 2019-2024 and should contribute to the growth of the Russian economy in 12 main areas.
If you plan to do business in Russia, be sure to choose the right PR - agency that will help you establish communication with local consumers and make your entry into the Russian market the most effective.
PR Formula is always ready to support you in your desire to work in our country and will arrange PR support for your business in Russia in the best way possible.
CEO, PR Formula
- PR for foreign brands in Russia