Experts eye 'promising' Russia tech market

World
Europe

01:55

One sector neglected by global investors in Russia is technology, an area that has a unique competitive landscape. Experts consider Russia's digital sector promising and advise global investors to monitor it closely.

Russia has seen the emergence of thousands of start-ups. The 2015 Global Startup Ecosystem ranking put the number of tech start-ups in Moscow at around 3,000. In a move to diversify the economy away from its dependence on raw materials, the government has invested heavily in the tech ecosystem.

Igor Marich, managing director of Money & Derivatives Market at the Moscow Exchange. /CGTN Photo

Igor Marich, managing director of Money & Derivatives Market at Moscow Exchange, noted that Russia's capital market is willing to attract more tech listings and cross border capital flows.

“Russian companies are very determined to pay good dividends in order to attract investors and to improve the evaluations in the eyes of market participants and investors,” he explained.

And Marich believes that Russian tech companies are full of potential and would be an attractive point for investors both Russian and foreign.

Russia's e-commerce used to be fragmented. However, with the fast-growing consumer demand in the country, leading players see the growth of the whole sector speeding up.

Alexander Shulgin, CEO of OZON Group. /CGTN Photo

The leading online store in Russia, OZON.ru, is regarded as “The Amazon.com of Russia”. And OZON Group's CEO Alexander Shulgin claimed that the sector is limited to fulfillment capacity as well as delivery capacity.

He advised Russia's e-commerce market to boost fulfillment capacity and delivery, adding that cross border business from China is a “priority for us.”

“We welcome Chinese partners to list on our marketplace and do business for Russian consumers,” Shulgin said.