Covering one-eighth of the earth’s inhabited land area, Russia is the largest country on earth and the 9th most populous. One of the world’s great powers, Russia is a member of the UN Security Council, the G20 and APEC.
Russia has the world’s 12th largest economy by GDP. The country is home to the world’s largest mineral reserves and is among leading producers of oil and natural gas. While the country is ahead of most other resource-rich countries in its economic development, many market niches remain open – offering great opportunities for savvy investors.
Other key industries include aerospace, electricity, paper production and defence.
Russia’s economy has grown as the country has stabilised in the post-Soviet era. In 2001, Russia became the first large country to introduce a flat tax (of 13%) – reflecting the government’s openness to business and foreign investment.
Notably, Russia has a higher proportion of higher education graduates than any other country in Europe or Asia.
HLB International is ranked 8th among the largest accounting networks in Russia, and ranked 3rd in Russia in legal consulting and 7th in financial consulting. Founded in 2013, HLB Russia Group includes Energy Consulting, HLB Prime Advice, HLB Vneshaudit, HLB Univers-Audit and HLB PACC Advice. The offices operate in Moscow, Saint Petersburg, Kazan, Kiev and Singapore.
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