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In 1991 Boris Yeltsin became the first elected leader of Russia This was the end of Michael Gorbachevs policy of perestroika radical changes in the economy and glasnost the possibility of free expression Gunn 1995 The new elected president wanted some more radical changes decentralisation democracy and a market economyFor Russia transition to a market economy has been difficult because the government has been trying simultaneously to change the economic and the political system of the country This resulted in a lot problems but the Russian market is emerging This brings me to the following problem statement Is it Interesting for a multinational enterprise to invest in RussiaI shall answer this question by first evaluating the situation in Russia second I shall discuss the opportunities and problems of the Russian business environment and finally I shall draw my conclusion In order to achieve a correct and effective transition the Russian government tried to achieve three main principles liberalisation of prices and trade In January 1992 Russia started the process of liberalising prices and trade A major point in this liberalisation was establishing clear and easily enforceable property rights Until this is done entrepreneurs will have little faith in the market and capital will flow out of Russia Especially in the first few years of the transition inflation was enormousInflation in Russia509041534087705520 European economy Special supplement Eastern Europe 1992 and 1994The government does not set five year plans anymore in which is stated what where and how much to produce Like in the communist period The producers now have to decide themselves what where and how much to produce These decisions need a lot of licenses which the local governments have to supply In order to adapt to these changes local governments need some radical changes but at the moment bribery is usually the only effective way to get such a licence Privatisation of state owned companies In Russia privatising
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