Английский язык. Практический курс для решения бизнес-задач

FIAC is a forum that for the past decade has been bringing together…….. with the leaders of 25 large, long-standing investors, including BP, Nestle, ExxonMobil and Deutsche Bank.

«Other regions of the world, China especially, have become favored destinations for investment,» said Jim Turley, chairman of Ernst & Young Global, who…….FIAC with Prime Minister Mikhail Fradkov.

Last year, Russia received a mere $6.8 billion in………, compared to China’s $53.5 billion, according to Renaissance Capital.

FIAC also made some more expected recommendations, calling on the government to continue………., bring stability to the……… and improve tax and accounting practices.

Participants singled out the need for Russia to clamp down on excessive……. if it wants to compete for investment.

But for the first time in its 10-year history, FIAC created a special……. dedicated to…… Russia’s image.

«Russia needs to put forward its own…… better,» said Ralph Kugler, president of Unilever.

Countries like China and India «might have lower…….,» Kugler said. «Russia, on the other hand, might have a higher standard of……..»

«There was a general…….. between the foreign investors and the government about the fact that the perception of Russia didn’t align with the reality of the…….. in Russia – and that that perception needed to be moved,» said Grant Winterton, Coca-Cola’s general manager for Russia.

The final communique also recommended that the government complete a plan to spread…….. among foreign investors that political and economic risk is dropping.

Not all the…… gathered in the President Hotel agreed that a government-run…… offensive is what Russia needs, however.

«So many…… are missed because of the wrong perception from abroad,» said Michel Perhirin, chairman of the board at Raiffeisenbank. But, he added, «I don’t believe a media…… could be extremely effective.»

A few FIAC members suggested that the country’s image is not the key to…… investment.

John Barry, president of Shell in Russia said Shell is pushing government regulators to implement….. reforms that will help facilitate…… oil drilling farther afield from cheaper, more accessible……..

Other participants said that the government has indeed been improving its dialogue with the foreign business……

«Particularly these last few years, under President (Vladimir) Putin, we’ve had superior…… from government at (FIAC) meetings,» said senior vice president of United Technologies Corp., Ruth Harkin.

Established in 1994 as a….. for foreign investors and government officials to share investment concerns, FIAC has had a big…… in pushing a number of reforms.

Recently, FIAC members helped the government rework the….. Code and corporate taxation.

FIAC meets annually to discuss pending…… and its effect on foreign investment.

Source: Moscow Times, September 28, 2004 (abridged)

Terms:

FDI, opportunities, representation, media, Customs, legislation, developing countries, red tape, awareness, community, consensus, education, multinationals, impact, doing business, venue, government officials, co-chairs, tax, administrative reform, banking system, locations, boosting, strengths, labor costs, investment climate, executives, campaign, attracting, capital intensive, working group

Exercise 6. Translate into English.

Ценности капитализма: Приоритет национального бизнеса

Дискуссия о соотношении местного и иностранного капитала в российской экономике в последнее время приобрела новое звучание как в коридорах власти, так и в широкой аудитории. Стремление создать мощные национальные компании и уважаемую бизнес-элиту закономерно и понятно. Но очень часто именно иностранцы привносят в российскую практику высокие стандарты качества продукции и социальной ответственности, включая выплату достойных зарплат сотрудникам и соблюдение жестких экологических стандартов. Либерализации процесса привлечения иностранных инвестиций будет способствовать и скорое вступление России в ВТО, а также новое законодательство о концессиях. Показательно, что, например, Германия практически не имеет ограничений для зарубежных инвестиций, за исключением определенного рода вложений в финансовый сектор.

Особенно полезен приход иностранных игроков в отрасли импортозамещения. Прежде всего очень актуально строительство новых заводов в депрессивных регионах, способное частично решить проблему безработицы и пополнения местных бюджетов. Или в сферу услуг: нельзя забывать, что своим рождением и энергичным развитием, к примеру, МТС и «ВымпелКом» во многом обязаны зарубежным акционерам, соответственно немецкому DT и норвежскому Telenor.