Anton Kabakov spoke about the particularities of investing in St. Petersbug at the annual event Investment Forum

The annual event Investment Forum was held in St. Petersburg at the beginning of the week. A business brunch was organized as part of the Forum to discuss the topic of Life after Sanctions: Why it Is Worth Investing in St. Petersburg. Anton Kabakov, Partner at Forte Tax & Law, spoke at this brunch.

The brunch attendees discussed why the volume of direct investments in St. Petersburg has significantly decreased over the past few years. They also discussed the difficulties that investors encounter when they invest in St. Petersburg as well as what makes the Northern capital an attractive city for investors.

Anton shared his experience with foreign investors and mentioned that they will have to face a number of difficulties ahead, in particular, the lack of stability and predictability of regulations, which translates into numerous and regular amendments to the law. He also noted that regulations are too comprehensive and too intrusive, often resulting in way too many of them. And this scrambles communication. “Investors are not always sufficiently aware of the tools that the city provides to them” commented Anton.

Nevertheless, according to Anton, investors have still confidence in the state and state institutions in Russia. “It’s getting better year after year” noted Anton.