News / Europe

    Russian President, California Governor Look for High-Tech Trade

    California Gov. Arnold Schwarzenegger, front left, and Russian President Dmitry Medvedev attend a round table discussion for U.S. and Russian investors and computer experts in the Skolkovo Moscow school of management in Moscow, 11 Oct  2010
    California Gov. Arnold Schwarzenegger, front left, and Russian President Dmitry Medvedev attend a round table discussion for U.S. and Russian investors and computer experts in the Skolkovo Moscow school of management in Moscow, 11 Oct 2010

    California's governor and prospective investors from Silicon Valley are in Russia looking for business opportunities.

    "I have to say that I love places where there is an extraordinary potential and I think when I look at Russia I think the potential for growth and for, I mean really blowing this thing up, the economy, is just so extraordinary," said Arnold Schwarzenegger. "I mean there are so many opportunities here in Russia, that you just look at this and say, 'Oh my God.'

    With that, California Governor Arnold Schwarzenegger announced his intent to get American businesses to invest in Russia's information technology sector.

    Schwarzenegger was in the former Soviet Union as a return gesture to Russian President Dmitry Medvedev's visit to the Silicon Valley earlier this year. During Mr. Medvedev's visit, he appealed for technical capital and American know-how.

    Schwarzenegger led a delegation with representatives from high-tech companies, including the likes of Google, Oracle and Microsoft to Moscow. In discussions with Russia's president, Schwarzenegger talked about the importance of American's setting up shop in the Russian Federation.

    "We are very happy to help in this process because as said we are the best in the world when it comes to this, I mean when it comes to biotech, to nanotech, high tech, green tech," he said. "You know there is no one like us, but we are not like holding on to our knowledge. What we want to do, we want to spread it around the world."

    But political analyst Masha Lipman, with the Carnegie Center, says it is not easy to get started or stay in business in Russia.

    "Risks are indeed high. Russia is not a law-governed place. Russia is a place where decisions are taken in a non-transparent fashion," said Lipman. "Russia is a place where businesses may fall out with the government and the government may take measures. Russia is a country in which government decisions are not contested. This of course creates a climate this is not auspicious, that is unpredictable."

    American Chamber of Commerce in Moscow President Andrew Sommers agrees with Lipman and attributes some of the difficulties of operating in Russia to a sort of schizophrenia between the government and its attempts at modernization.

    "Russia is trying to develop its own industries so it is not totally dependent on foreign investment, but at the same time exploit foreign investment and high-tech," he said.

    President Medvedev has said several times this year that modernization and foreign expertise is important to the Russian economy. Mr. Medvedev promises Russia is committed to joining forces with the United States.

    He says, he would like to say once again that Russia is very much interested in America's immense experience, and that Russia is not shy of learning. He says Russia must admit that in many spheres Moscow is behind Washington, and he hopes very much that the co-operation will bear fruit.

    part of Mr. Medvedev's modernization plans, a new technology center on the outskirts of Moscow was created earlier this year. The facility, in Skolkovo, has been nicknamed Russia's Silicon Valley.

    In addition to creating Skolkovo, Russia has also given $10 billion to innovation investment fund Rusnaro. The fund is run by a group that is financing nearly 100 high-tech products in partnership with the former Soviet Union and foreign firms.

    Meanwhile, the U.S. group Cisco, says it will invest $1 billion in Russia during the next decade.

    You May Like

    Top US General: Turkish Media Report ‘Absurd'

    General Dunford rejects ‘irresponsible' claims of coup involvement by former four-star Army General Campbell, who led NATO forces in Afghanistan before retiring earlier this year

    Video Saving Ethiopian Children Thought to Be Cursed

    'Omo Child' looks at efforts of one African man to stop killings of ‘mingi’ children

    Protests Over Western Troops Threaten Libyan 'Unity' Government

    Fears mount that Islamist foes of ‘unity' government plan to declare a revolutionaries' council in Tripoli

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    London’s Financial Crown at Risk as Rivals Eye Brexit Opportunitiesi
    X
    VOA News
    July 25, 2016 5:09 PM
    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.
    Video

    Video In State of Emergency, Turkey’s Erdogan Focuses on Spiritual Movement

    The state of emergency that Turkish President Recep Tayyip Erdogan has declared is giving him even more power to expand a purge that has seen an estimated 60,000 people either arrested or suspended from their jobs. VOA Europe correspondent Luis Ramirez reports from Istanbul.
    Video

    Video Calm the Waters: US Doubles Down Diplomatic Efforts in ASEAN Meetings

    The United States is redoubling diplomatic efforts and looking to upcoming regional meetings to calm the waters after an international tribunal invalidated the legal basis of Beijing's extensive claims in the South China Sea. VOA State Department correspondent Nike Ching has the story.
    Video

    Video Four Brother Goats Arrive in Brooklyn on a Mission

    While it's unusual to see farm animals in cities, it's become familiar for residents of Brooklyn, New York, to see a little herd of goats. Unlike gas-powered mowing equipment, goats remove invasive weeds quietly and without adding more pollution to the air. As Faiza Elmasry tells us, this is a pilot program and if it proves to be successful, the goat gardener program will be extended to other areas of New York. Faith Lapidus narrates.
    Video

    Video Scientists in Poland Race to Save Honeybees

    Honeybees are in danger worldwide. Causes of what's known as colony collapse disorder range from pesticides and loss of habitat to infections. But scientists in Poland say they are on track to finding a cure for one of the diseases. VOA’s George Putic reports.
    Video

    Video Wall Already Runs Along Parts of US-Mexico Border

    The Republican Party’s presidential nominee, Donald Trump, gained the support of many voters by saying he would build a wall to keep undocumented immigrants and drugs from coming across the border from Mexico. Critics have called his idea impractical and offensive to Mexico, while supporters say such a bold approach is needed to control the border. VOA’s Greg Flakus has more from the border town of Nogales, Arizona.
    Video

    Video New HIV Tests Emphasize Rapid Results

    As the global fight against AIDS intensifies, activists have placed increasing importance on getting people to know their HIV status. Some companies are developing new HIV testing methods designed to be quick, easy and accurate. Thuso Khumalo looks at the latest methods, presented at the International AIDS conference in Durban, South Africa.
    Video

    Video African Youth with HIV Urge More Support

    HIV, the virus that causes AIDS, is the top killer of teens in sub-Saharan Africa. But many youths say their experience with the virus is unique and needs to be addressed differently than the adult epidemic. VOA South African Correspondent Anita Powell reports.
    Video

    Video Pop-Up Art Comes to Your Living Room, Backyard and Elsewhere

    Around the world, independent artists and musicians wrestle with a common problem: where to exhibit or perform? Traditional spaces such as museums and galleries are reserved for bigger names, and renting a space is not feasible for many. Enter ArtsUp, which connects artists with venue owners. Whether it’s a living room, restaurant, office or even a boat, pop-up events are bringing music and art to unexpected places. Tina Trinh has more.
    Video

    Video Scotland’s Booming Whisky Industry Fears Brexit Hangover

    After Britain’s vote to leave the European Union, Scotland’s government wants to break away from the United Kingdom – fearing the nation’s exports are at risk. Among the biggest of these is whisky. Henry Ridgwell reports on a time of turmoil for those involved in the ancient art of distilling Scotland’s most famous product.

    Special Report

    Adrift The Invisible African Diaspora