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

Video British Fighters on Frontline of Islamic State Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More

Pakistan's Political Turmoil Again Shines Spotlight on Military

Thousands of protesters calling for PM Sharif to step down continue protests in front of parliament, as critics fear political impasse could spur another military coup More

Photogallery Ebola Quarantines Spark Anxiety in Liberian Capital

Food prices rise sharply as residents attempting purchases clash with security forces, leaving one person dead More

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.
Native Bees May Help Save Cropsi
X
Deborah Block
August 22, 2014 12:23 AM
U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video Native Bees May Help Save Crops

U.S. President Barack Obama has called for a federal strategy to promote the health of bees that have been declining. The honeybee has been waning due to parasites, disease and pesticides. Wild bees may be used to take over their role as crop pollinators. Scientists first need to learn a lot more about wild bees, says biologist Sam Droege, who is pioneering the first national inventory on native bees. VOA’s Deborah Block went to his research laboratory in Beltsville, Maryland, to bring you more.
Video

Video US Defense Officials Plan for Long-Term Strategy to Contain Islamic State

U.S. defense officials say American air strikes in Iraq have helped deter Islamic State militants for the time being, but that a broad international effort is needed to defeat the extremists permanently. Defense Secretary Chuck Hagel warned Thursday that the group formerly known as the Islamic State in Iraq and the Levant, or ISIL, is better organized, and financially and militarily stronger than any other known terrorist group. Zlatica Hoke has more.
Video

Video Drug-Resistant Malaria Spreads in Southeast Asia

On Thailand’s border with Myanmar, also known as Burma, a malaria research and treatment clinic is stepping up efforts to eliminate a drug-resistant form of the parasite - before it spreads abroad. Steve Sandford reports from Mae Sot, Thailand.
Video

Video Gaza Conflict, Hamas Popularity Challenge Abbas

The Palestinian unity government of Mahmoud Abbas has failed to convince Hamas to agree to Egyptian-negotiated terms with Israel on a Gaza cease-fire. VOA State Department Correspondent Scott Stearns reports on what the Gaza conflict means for President Abbas, with whom U.S. officials have worked for years on a two-state solution to the Israeli-Palestinian conflict.
Video

Video Nigeria's 'Nollywood' Movie Industry Rolls in High Gear

Twenty years after its birth in a video shop in Lagos, Nigeria's "Nollywood" is one of the most prolific film industries on earth. Despite low budgets and whirlwind production schedules, Nigerian films are wildly popular in Africa and industry professionals say they hope, in the future, their films will be as great in quality as they are in quantity. Heather Murdock has more for VOA from Lagos.
Video

Video UN Launches 'Biggest Aid Operation in 30 Years' in Iraq

The United Nations has launched what it describes as one of the biggest aid operations in 30 years in northern Iraq, as hundreds of thousands of refugees flee the extremist Sunni militant group calling itself the Islamic State. As Kurdish and Iraqi forces battle the Sunni insurgents, the fighting has forced more people to flee their homes. Kurdish authorities say the international community must act now to avert a humanitarian catastrophe. Henry Ridgwell reports for VOA from London.
Video

Video Cambodian American Hip Hop Artist Sings of Personal Struggles

A growing underground movement of Cambodian American hip hop artists is rapping about the struggles of living in urban America. Most, if not all of them, are refugees or children of refugees who came to the United States from Cambodia to escape the Khmer Rouge genocide of the 1970s. Through their music, the artists hope to give voice to immigrants who have been struggling quietly for years. Elizabeth Lee reports from Long Beach, California.
Video

Video African Media Tries to Educate Public About Ebola

While the Ebola epidemic continues to claim lives in West Africa, information technology specialists, together with radio and TV reporters, are battling misinformation and prejudice about the disease - using social media to educate the public about the deadly virus. VOA’s George Putic has more.

AppleAndroid