The Russian food industry is currently characterized by government efforts seeking to improve the domestic production and replace the use of imported produce. As a result, the local manufacturing companies now need to upgrade their processing equipment with modern machinery.
Currently, over 100 forestry and woodworking projects are developed in Russia. These create an expected total investment volume of about $6 billion and the capacity to process over 80 million m³ of raw material. As a result, there is a demand for Finnish solutions.
The sale of bicycles and biking related products is on the rise in the capital area. The development opens up great business opportunities for Finnish companies with a relevant offering.
Russian medical devices market is very attractive for Finnish companies: it is one of the largest in Eastern Europe. Medical devices market is heavily dominated by import, despite all efforts of the Russian government for import substitution.
Despite the Russian economic crisis, the beauty sector, including cosmetics, makeup, and professional beauty treatments, has proven to be recession-proof. The positive consumer climate and encouraging future outlooks offer great business opportunities for Finnish companies to enter and grow their business in Russia.
Investments in commercial aquaculture in Russia create opportunities for Finnish businesses. Russia is developing its aquaculture sector not only to replace the lost fish imports caused by the food embargo (August 2014), but also to increase the share of the domestic fish production.
The rapidly growing demand for organic, functional and ecological food in Russia provides interesting business opportunities for Finnish food and beverage companies.
Russia has established an objective to achieve a 4.5 % share of renewables (excluding hydroelectric power stations) in the total electricity generation by 2020. A recent change in the legislation sets new targets for wind energy.
The segment of private school education continues to develop in Russia offering significant business potential for Finnish education providers, especially in Kazan, the capital city of Tatarstan.
The vocational education and training sector in Russia, especially in Tatarstan, offers significant opportunities for Finnish education provides.
