THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
Due to the nationalization of foreign assets, the Russian economy will not receive Western technologies that will allow it to successfully develop business, says Ivan Chumakov, an expert on economic policy and investment. In a comment to a Rosbalt correspondent, he gave examples from the technology industries.
“Business came to our market as trading structures that trade, and did not bring complex technological chains. Roughly speaking, screwdriver assembly was practiced in Russia. Take for example one well-known company – a large manufacturer of trucks. The engines were supplied from the USA, the gearbox and fuel system were supplied from Germany. Now we are told that they will switch to their equipment. But there is no technology, no specialists, no investments. Without this, the technological transition is impossible,” the expert noted.
As another example, he cited a pulp and paper mill in the Leningrad region, which partially suspended work due to a lack of supplies of chemicals from abroad. So the sanctions hit the production of ordinary office paper, Chumakov added.
“We have a shell, a brand name, but without filling with an internal technological process. Foreign companies initially did not bring technology here, they made sure not to transfer the main competitive advantage. Nationalization, on the other hand, can fundamentally destroy the reputation with which any investment, any cooperation begins. If reputation is killed, no one will come here. If today they don’t bring engines, then tomorrow even wipers for trucks, ”the expert suggested.
According to him, neither personnel, nor the economy, nor the management system are ready to intercept imported developments.
“We can nationalize a huge box from the company, but we won’t be able to replace it technologically,” Chumakov summed up.
Earlier, the Kremlin stated that it had not formed a position on the proposals of parliamentarians on the nationalization of foreign enterprises that had left the Russian market. The American White House warned of retaliatory measures if the Russian government makes such a decision.
Meanwhile, the lawyer pointed to the legal complexities of the nationalization procedure in Russia.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
