Splurge in Sochi for the winter Olympics

Russia’s southernmost region, Krasnodar, is a somewhat unknown region to many Swedish companies. To attract more investors to the region in general and Sochi city in particular, home of the 2014 winter Olympics, a business trip to this area has been arranged.

EVEN IF MORE SWEDISH companies have discovered the Russian market, most of them just know about St Petersburg and Moscow. A few companies, for example Ericsson, SCA Packaging and Tetra Pak, have discovered the Krasnodar region. However, compared to other countries, the number of Swedish companies that have set up business there is low. It’s a shame, says Ekaterina Burlakova at East Event Sweden, a Swedish-Russian business to business PR firm and arranger of the business trip to Sochi in the fall.

– With the Sochi 2014 winter Olympics, there are unique business opportunities for Swedish companies. The Krasnodar region is looking for

partners to build hotels, amusement facilities, develop infrastructure, tourism and ski resorts in Sochi. There is a need for sports equipment and inventory for the Olympics.

In connection with the winter Olympics, the Russian government has allocated SEK 80 billion in the federal budget to develop regional infrastructure. In addition to infrastructural development, there is a need to build modern ports in Novorossijsk by the Black Sea, distribution terminals, factories and business centres in the region.

– Primarily, there is strong demand for foreign companies’ services in the environment and energy sector, says Ekaterina Burlakova. Swedes are known for highly developed technology and skills in this area, she says.

DURING THE LAST SIX YEARS, the Russian Chamber of Trade and Industry, the Foreign Ministry and the Krasnodar region have arranged business trips to the area. The interest from both foreign and Russian companies has increased during this period. Last year, 10 000 people from 36 countries participated in the international forum in Sochi. In spite of international interest, the forum is not well known in Sweden and it is the first time for a Swedish delegation to participate at the forum in September.

– This is a unique opportunity for Swedish companies to establish contacts, get acquainted with Russian business opportunities and to market themselves. If you are interested and curious about Russia, you have to be there to meet other companies in person to succeed.

Emelie Ring

About the Krasnodar region

App. 5 million inhabitants
High economic growth. Industrial growth of 12% last year was twice as high as all of Russia.
Ranked third in house building (after Moscow and the Moscow area).
Investments in the region increased last year by 24% and has passed Euro 6 billion.
Trade with Sweden has doubled in the last 3 years and passed Euro 10 million last year.
Was appointed Russia’s most investor friendly region by the World Economic Forum in Davos.

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