Internationalization:

Country

Bulgaria

Year of entry

2008

Industry/ business area

construction

Entry mode

FDI, greenfield, wholly owned, volume is about 30 mln euro.²⁰

Motives

Increase in demand of private property abroad, especially among Russians in such south eastern countries as Bulgaria, Montenegro, Serbia, and Croatia. Bulgaria is the most attractive one in terms of affordance and cultural, historical reasons for Russian consumers, for example.

Firm specific advantages used on the foreign market

Big amount of capital that can be invested in projects. Well-known name in Russian construction market sounds more trustfully for Russian consumers.

First mover or follower

First among Russian leading construction companies, which entered Bulgaria.

Type of state involvement in the process of internationalization

None, fully commercial independent project.

Evaluation of the success of the internationalization

Successful.

Country

Serbia

Year of entry

2008

Industry/ business area

construction

Entry mode

FDI, greenfield, wholly owned

Motives

Increase in demand of private property abroad, especially among Russians.

Firm specific advantages used on the foreign market

Ability to make huge investments.

First mover or follower

First among Russian leading construction companies

Type of state involvement in the process of internationalization

None, fully commercial independent project. conjecture.

Evaluation of the success of the internationalization

Not successful, cancelled in 2009 due to instability in political and social environment.²¹