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. Last Updated: 07/27/2016

Most Foreign Firms Ready to Grow

Around 90 percent of foreign investors are prepared to expand their businesses in Russia, Vartan Dilanyan, a partner with Ernst & Young, said Tuesday at a conference in Moscow.

"In our work, we come across investors that are ready to accept the risks associated with their activities in Russia, and 90 percent of them are prepared to expand their business," Dilanyan said.

The risk of staying away from Russia is higher than the risks related to working in the country, he said.

Speaking at the same event, Paul Vandoren, deputy head of the European Commission's delegation to Russia, said the country needed to display greater willingness to attract foreign investment into some areas, however.

"We wish to avoid access to certain sectors becoming too restricted," Vandoren said, adding that foreign investors could bring in technology, expertise and much-needed capital investment.