Chris Weafer, chief strategist at Moscow-based investment house Troika Dialog Group, discussed the foreign investment outlook in Russia on Bloomberg Television. He said that the next government must rely on sectors besides domestic natural resources to drive economic growth:
We can’t go back to the same type of model we had when Putin was president last time. That model was very inward looking, and […] that model will not sustain economic growth going forward. The next model has got to be based on investment.
Weafer stressed that Putin must take steps to reign in corruption to reduce risk and attract foreigners – both in terms of capital and expertise:
People are well aware of the corruption problems and the governance problems. […] What we’re looking for from Putin’s next government is going to be priorities to deal with these issues, to start actually making progress on the list of reforms.
You can watch the full interview here.
