American companies operating in Russia are upbeat about economic prospects in the country for 2021 after a promising start to the year, Alexis Rodzianko, the president of the American Chamber of Commerce in Russia, told Sputnik on Thursday
ST. PETERSBURG (Pakistan Point News / Sputnik - 03rd June, 2021) American companies operating in Russia are upbeat about economic prospects in the country for 2021 after a promising start to the year, Alexis Rodzianko, the president of the American Chamber of Commerce in Russia, told Sputnik on Thursday.
"Well 2020 was not as bad as we feared in Russia and 2021 looks very good. The start of the year was very strong and our companies are quite optimistic," Rodzianko said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
Rodzianko went on to say that the travel and hotel industry in Russia where US businesses are major players was among the areas with the most potential for growth, as it featured the biggest recovery from the crisis triggered by the pandemic.
"Then the oil and gas industry is looking good because the prices are up and our US companies are major participants in Russia's oil and gas energy sector. Consumer goods, people are back to buying and we are major participants in fast food ... Generally, the sense is quite good," he added.
Rodzianko also pointed to the aluminum industry as one seeing enormous growth driven by major "green" concerns, saying that an American aluminum company in Russia is currently undertaking one of its best investment projects it has globally due to the high demand for aluminum in the country.
SPIEF an annual economic forum that gathers officials, business people and experts from around the world is taking place in-person from Wednesday through Saturday at St. Petersburg's ExpoForum Convention and Exhibition Center. The Rossiya Segodnya International Information Agency is an official media partner of the country's major economic forum.
