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Past Issue
August, 2008

The USRCCNE Monthly Newsletter
For those with interests bridging the US and Russia...


Josh Wilson, USRCCNE EditorWelcome!
From Josh Wilson, General Editor, USRCCNE

Small and medium sized enterprises (SMEs) have long been recognized by governments and societies as bringing strength and flexibility to economies. However, Russia's SMEs have long been mired in an environment of bureaucracy, corruption, inadequate finance, and spotty legal protection. Recently, President Medvedev pledged that the situation would improve, and the Russian legislature has been buzzing with activity to draft new legislation and found new programs to help this long-neglected sector of Russia's economy.

Many news and business organizations have also been buzzing - with analysis and predictions concerning the planned reforms. Will they be effective or not? This month, the USRCCNE Newsletter focuses on SMEs and other issues affecting the Russian economy this summer.

As always, this newsletter is dependent on you. If you have an announcement or a news item to be included in our newsletter, or if you would like to subscribe to this free publication, please contact us.


News Briefs

USRCCNE USRCCNE and MassMEDIC Team Up on Med. Devices. On July 24, MassMEDIC and USRCCNE co-sponsored a discussion of the medical device market in Russia.

Breakfast and Business. On June 17th, 2008, USRCCNE and McDermott Will & Emery LLP sponsored a breakfast seminar featuring Dr. Aleksey Shishayev, Counselor and Head of the Economic Office of the Embassy of the Russian Federation in the United States. 

Russian IT Quarterly #16. While the quarter has been relatively quiet on most fronts, two trends continue: Investment to the sector continues to flow, and the share of small firm's market share continues to decrease.

Auriga Expands Nizhny Novgorod Operations - and other news from one of Russia's most respected IT outsourcers!


Upcoming Events

Kent, CT, Aug 30 - A Russian View of the World will present Janna Bullock, a Russian economist, real estate investor and patron of the arts, who will discuss her business view of US-Russian relations and perspectives about art as a bridge between both cultures.

New York, NY, Sep 24 - The Global Investment Symposium invites global corporate and financial investors to meet with Heads of State and Ministers attending the United Nations General Assembly for private, results-driven discussions on trade and global investment.

Moscow, Russia, Dec 8-12 - Zdravookhraneniye' (Healthcare) 2008, the 18th International Exhibition for Health Care, Medical Engineering and Pharmaceuticals, will present the opportunities that Russia's growing medical services market provides.


SMEs in Russia

Russian SMEs

Go Forward Plan to Scaling Up Innovation (PDF)
Emerging country SMEs with are creating technology capacity to ensure their future in a knowledge world. Much energy is directed at replicating the strategies that made SMEs in Ireland, Korea and others so successful ‐‐ Are these the best strategies with the greatest chances of success?

SMEs in Russia and China: A Comparison
Russia's GDP generated by small and medium enterprises (SMEs) is estimated at 13-17%. China's officially released data for 2005 (the most recent available) showed SMEs there accounting for 55% of GDP.

Red Tape and the Budding Entrepreneur
After the dissolution of the Soviet Union in 1991, Russian authorities did not help, and sometimes even hindered, the development of SMEs. The situation has improved only recently. Why?

Investment Projects for SMEs in Nizhny Novgorod
The following article from The U.S. Russia Center for Entrepreneurship discusses the difficulties and advantages to building or buying property as an SME in Russia.

Food and Drink Industries in Russia (PDF)
One economic sector offering great opportunity to SMEs in Russia is the food and drink industry. The latest AEB Magazine, while not focusing specifically on SMEs, does give a good overview of this promising industry.


More Articles of Interest

Obzor: Review of Russian Economic News
A wide-ranging news review of Russia's economy, with particular focus on financial markets, investment, technology, and labor.

Medvedev's Speech at International Economic Forum
I have no doubt that the 12th Petersburg forum will contribute to the development of new ideas both for Russia's successful development and that of the international community in general.

The Brick's Still There
The following Kommersant article, while not a great translation, is an interesting and informative peek into the inner working of the Russian legislature and some of the bills recently introduced there.

Kazakhstan: Macroeconomic Outlook
Kazakhstan has also been busy with legislative reforms - including several to help SMEs there.

Russian Corner: Commercial Property in Russia
This article will briefly overview the legislation that regulates commercial property in Russia in order to help potential investors better understand the law and the required processes.

Just for Fun: Books and Movies
The latest newsletter from USRCCNE member The School of Russian and Asian studies looks at several recently released books and movies. Fiction and nonfiction are plentiful this summer! See the end of the letter for news about Coke's now nationwide kvas product in Russia. 

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