Business forum “Russia – the Gulf” was held in the Sharjah Emirate (UAE) from 17 till 19 December 2012. Business forum was participated by representatives of business circles, government agencies and experts from Russia and members of the Gulf Cooperation Council (GCC). The main purpose of the forum was establishment of business contacts between Russian and Arab businessmen, expansion of trade-economic relations and improvement of investment climate.
Managing partner of INCONA Alexey Busev made a performance at a round-table conference. His speech was devoted to the development of economic cooperation between Moscow and the United Arab Emirates. In particular, he raised an investment issue. According to his opinion, in Moscow the most attractive investment spheres for Arab investors are the spheres of real estate, infrastructure, transport and electricity.
A.Busev added that Moscow companies have good prospects for realization of products in the United Arab Emirates market. He said that greatest demand in the UAE and other Gulf countries markets is for systems of water purification and water conversion, alternative sources of energy, information technologies, energy-saving lighting, systems of satellite, fire-proof equipment and safety systems.
In the end of his performance A.Busev told about the most serious problems which are often occurred when Russian companies are doing business in the UAE. One of the main problems is absence of the international certification and licenses. Also Russian producers often didn’t have digestible marketing strategies, skills of documentation registration, opacity of Russian companies’ financial reports and English-speaking specialists’ deficit.