Title:      Business Opportunities for Companies in the Security Sector around Major Events in Russia 

This event was hosted in association with Control Risks.  MEI would like to extend their sincere thanks to Control Risks and all those who were involved in ensuring the success of the event.

Just under 40 attendees gathered together in the offices of Control Risks to listen to three experienced operators in Russia.  Yuri Botiuk, a partner from Pinsent Masons LLP, gave a very frank and entertaining introduction to the challenges of doing business in Russia.  It was made clear that Russian law was developing and moving away from the intense bureaucracy of the Soviet years.  That being said, it will be a slow process and businesses looking to penetrate Russia should be prepared for a time consuming and frustrating journey.  The rewards, however, like the margins, are high and the importance of building relationships, making friends and having people of the ground could not have been more strongly encouraged.  Paul Sprague, a Director of Russia Consulting gave a swift overview of accountancy practices and tax law in Russia confirming the view that tax collectors were armed in Russia and that securing a trusted partner was a crucial element for success in business.  Double taxation, expense accounts, company registration, capitalisation and the company ‘Czar’ were touched upon and we were left with the advice that forms hold more value than their substance, harking back to more repressive times.  Following the break, Dilshod Yusupov from ITE Group PLC came to the lectern and gave us a brief insight into the activities of this event management group in the security sector in Russia.  Dilshod stressed the importance of understanding the very different characteristics between businessman in Moscow and businessmen in St Petersburg and that Moscow is not Russia any more than Kazachstan is the Caucasus.  Once again the importance of relationships was stressed.  In Dilshod’s view, make friends first, then do the business.  The last of the presentations was given by Piers Lawson, Client Relationship Director of MEI, who explained the part that MEI played in the major event sector, providing the audience with a clear explanation of what services they offer and how they are able to support businesses looking to penetrate new markets.

Finally the audience were given a light hearted account of a recent trip to Russia experienced by Darryl Adler, a journalist present in the room before our two event partners Russia Local and Varega both explained the services that they offer businesses looking to work in the Russian market.

Copies of all presentations can be downloaded from the MEI website at Presentations.

Our next Security and Resilience Briefing will take place in London on Thursday 17th October and will look at the cyber threat to major events.  Our next Russia focus event is due to take place on Wednesday 6th November.  Please save these dates in your diary.

Additional information