The USRCCNE Monthly Newsletter
For those with interests bridging the US and Russia
From Josh Wilson, General Editor, USRCCNE
As Russia rolls into a new year, it has much to be excited about in terms of promised government support of the economy. First, the state plans to sell some $33 billion in state assets over the next three years. This will help patch the nation's budget deficit and, it is hoped, improve transparency and make Russia more attractive to foreign investors. This sell-off will also help the government increase its support of several critical industries, especially agriculture, which was hit hard this year by draught and wild fires. Some $1.3 billion in state aid is planned for the agro-industrial sector next year for everything from fertilizer subsidies to low-interest loans. In the longer term, Russians can look forward to some $40 billion dollars in roads, rails, airports, and other infrastructure improvements as Russia prepares to host the FIFA World Cup in 2018.
Russia has always been a country of great potential – to find out what opportunities await you there in 2011 and beyond, hold January 18th open on your calendar for a USRCCNE event that will introduce you to the Skolkovo Project, Rusnano, and the Russian Venture Company! Details to come soon – keep an eye on your email box!
Don't Miss This Month!
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.
Russia’s Drive for Innovation – Opportunities for New England Business
(January 18, 2011 - Boston, MA) Join with your fellow USRCCNE members and other business colleagues on January 20, 2011 for an informative event on how New Englanders can take advantage of opportunities from Russia’s current push for modernization and innovation. Find out more about the widely trumpeted and well-funded new initiatives of the Skolkovo Project, Rusnano and Russian Venture Company. Details to follow in early January. Save the date!
Calligraphy and Manuscript Gilding Workshop
(January 14-15, 2011 - Clinton, MA) Join calligrapher, gilder and book artist Maryanne Grebenstein for a two-day workshop incorporating religious iconography and calligraphy.
The Mother of God in Modern Russian Culture Symposium
(January 27-28, 2011 - Clinton, MA) This working symposium will bring together scholars of Russian literature, religious history and art history to focus on the various ways the iconic image of Mary has been used to frame and shape Russian national, cultural and spiritual self-expression.
A Cultural Tour of Russia!
(May 7-15; August 6-14, 2011 - Russia) This nine-day cultural travel package is unlike any tourism you've ever tried. Eat a home-cooked meal with Russians in their home. Create traditional painted porcelain under a Russian master. Sit in banyas and celebrate life with Russians who will show you how to sing, make toasts, relax, and laugh.
Skolkovo gets rolling! Pictured here is Satellite Innovation CEO Artem Razumkov with Russian Federation President Medvedev at a ceremony in Moscow marking their entry into the project. Satellite Innovation is a partner of USRCCNE member Russia Innovation Collaborative.
Commercial Spaceflight from SpaceX
Imagine flying from Moscow to New York in about 40 minutes.
Russian Joining WTO Could End Overflight Fees
Russia's "discriminatory charges" levied on European airlines for their right to fly over Siberia will be dropped after the country joins the WTO, a European Union official said Monday.
Crash at Domodedovo Airport
Video coverage of the crash of a Dagastani-airlines Tupolev. RT doesn't mention it here, but the current theory is that the mechanics forgot to add antifreeze before takeoff.
Construction Begins on New Pulkovo Terminal
Upon entering service in 2013, the new air terminal will handle up to 13 million passengers a year in St. Petersburg.
Alitalia operates from Sheremetyevo Terminal D
Starting from December 07, 2010 all Alitalia flights will operate from Terminal D of Sheremetyevo airport.
USRCCNE and Member News
International Tech Entrepreneurs Meet U.S. Investors
Technology commercialization paths and strategies were explored at a recent CRDF Global innovation event in Boston.
Russia Innovation Partner Chosen Skolkovo Resident
The Skolkovo Foundation announced its choice of 16 innovative companies as "residents" of the Skolkovo project in a ceremony in Moscow on December 14.
Alinga's "Update on Doing Business in Russia"
On November 23, 2010, Alinga Consulting Group held a seminar for CEOs, CFOs, and heads of branch and representative offices of foreign companies doing business in Russia at the Association of European Business (AEB) office. The seminar covered the practical application of legislative changes in 2010 and addressed many practical concerns, such as choosing the right auditor.
Auriga at Russian Software Engineering Conference
Sergey Zhukov, Team Manager at Auriga Pigeon Point Systems account, took part in the Central and Eastern European Software Engineering Conference in Russia that was held in Moscow on October 13-15. Sergey presented a showcase report based on Auriga projects – “Delivering multi-vendor support for AdvancedTCA Shelf Manager”.
Triple Helix Roundtable Brings Regions’ Role in Innovation into Focus
The Triple Helix model is based on the historical experience of the Boston area and Silicon Valley in creating regional economies focused on knowledge-based, innovative companies.
SRAS Awards $200 Jury Award for Research on Russia
In his work entitled "Ordinary Men: Collaboration and Resistance in Occupied Mogilevskaya Oblast," Mr. Rodeheffer provides a detailed look at what life was like for the inhabitants of a small part of Nazi-occupied Belarus during WWII. He draws upon a wide array of primary source documents, including from both the Soviet and Nazi sides, and from both government sources and individual memoirs.
Articles & Resources
Russia Approves Trillion-Ruble Privatization Plan for 2011-2013
The Russian government has approved a privatization plan for 2011-2013, including the top ten state-owned assets, which could bring an extra 1 trillion rubles ($33 billion) to state coffers.
Social Tax Revisited - Good News for Russian Software Business
As The Russian Ministry of Communications reports, companies working in the field of software development are subject to preferential tax treatment.
Optogan lights up Russia’s "LED revolution"
With the launch of its $13m St. Petersburg factory, Optogan hopes to create Russia's "LED revolution." Its main investors, Mikhail Prokhorov's Onexim and the RF's Rusnano, have pledged to put up another $112m over the next four years. But with Russia accounting for less than 1% of the global market for LED lighting, Optogan will be an export-only business for years to come.
Russian Magnesium looks for $1.8bn financing to become global leader
Russian Magnesium, a domestic leader in this sector, has unveiled $1.8bn worth of plans to restart and expand its three-year-old magnesium production project in the Urals. A multipartite (and yet unclear) investor consortium is being put together, with VEB Bank, Sberbank and Rusnano as the likeliest participants. By late 2013 phase 1 of the project is expected to clear the way for a gradual increase in magnesium production to create “the world’s largest factory”. Subscribe to Marchmont News Service
Russian Corner: Debt for Equity Swaps
This new article from Alinga Consulting Group was published in the Association of European Businesses Quarterly. Open the application and advance to Page 14. Subscribe to the Alinga Market Update
Just for Fun: Olivier Salad
A new recipe and history for an essential ingredient in any Russian New Year celebration! Subscribe to the SRAS newsletter
Joining the USRCCNE is Easy!
Members of the USRCCNE become a part of a vibrant network of individuals and firms dedicated to furthering business opportunities between the U.S. and Russia. We work with business organizations in the US, (specializing in the New England region) and in Russia to bring exposure to the USRCCNE, and ultimately, to our members. Join today!