Vocabulary list
A. investment activity инвестиционная деятельность
capital
expenditure
капиталовложения,
вложение капитала
physical
productive
assets
материальные,
производственные фонды
real investment инвестиции в реальный (основной) капитал
tangible
assets
материальные
активы
embrace
v
охватывать
capital gains прирост капитала
user п пользователь
investor n инвестор
labour
migration
миграция
рабочей силы
prevailing
adj
превалирующий,
преобладающий
exchange
control
валютный
контроль
financial
deregulation
сокращение
объема вмешательства государства в
финансовую сферу
international capital flows движение иностранного капитала
international investment иностранные инвестиции
foreign direct investment (FDI) прямые иностранные инвестиции
foreign indirect investment непрямые иностранные инвестиции
portfolio investment портфельные инвестиции
managerial
control
административный
контроль
operation n (зд.) организация, хозяйствующая единица
joint
venture
совместное
предприятие
foreign branch заграничное отделение
multinational enterprise многонациональная компания
transnational
corporation
транснациональная
корпорация
"global" corporation «глобальная» корпорация
speed v ускорять
diffusion
n
распространение
skill(s) n навык(и)
sharing
(in)
участие
(в)
individual
investor
частный
инвестор
institutional investor институциональный инвестор
investment management управление портфелем ценных бумаг
technique(s)
прием(ы),
технологии
quantitative
security
valuation количественная
оценка
инвестиционных
активов
dividend
discount
models
модели
дисконтирования финансовых потоков
(дивидендов)
obstacle
n
преграда, препятствие
B. Dialogue
Investment climate
Russian: How do you assess the investment climate in your country?
Foreigner. As quite favourable. Foreign investments have been flowing into our country at an accelerating rate since we started our transition to a market economy.
R.: Who invests capital in your country?
F.: Both foreign companies and individuals. The US heads the list of the major investors. The investment policy pursued by the government focuses on foreign direct investments, I mean setting up joint ventures and establishing foreign branches or subsidiaries.
R.: What is the major reason for this striking growth of foreign investments?
F.: Investors are willing to invest because of two reasons: increase in the middle class that is driving economic development, and the decrease in politically motivated interference in the free market.
R.: Do you think the situation will continue?
F.: Definitely, the government have announced plans to privatize the banking, insurance, power, oil, steel and telecommunications industries, which is sure to encourage still more capital inflows.
R.: We know that your investment policy envisages setting up special economic zones as an additional vehicle for attracting foreign funds. Has anything been done in this direction yet?
F.: Our National Technology Park has been designated for this purpose. There are highly trained workers, scientific and production facilities in this locality.
R.: Will the local companies benefit from this?
F.: Of course. The benefits will include exemptions from all real estate taxes, as well as several options for the reduction of income taxes.
R.: It's been very interesting, thank you.
В.
investment climate
инвестиционный
климат
flow v течь
at
an accelerating
rate
все
увеличивающимися
темпами
middle
class
средний
класс
interference
n
(зд.) вмешательство
envisage
v
предусматривать
designate
v
определять, обозначать
real
estate
tax
налог
на недвижимость
option n выбор, право выбора
Words you may need:
generate v (зд.) изыскивать, получать
economies of scale экономия, обусловленная ростом масштаба производства
odd lot неполный лот
round lot полный лот (партия ценных бумаг)
incur v терпеть убытки, принимать на себя расходы
to keep records регистрировать, вести запись
to be on the lookout быть настороже
mispriced securities ценные бумаги по заниженной или завышенной цене
to keep track (of) отслеживать
deviate v отклоняться
money manager менеджер, занимающийся покупкой и продажей ценных бумаг
Words you may need:
mutual funds взаимные фонды
real estate недвижимость
to accept risks принимать риски
money market (mutual) fund взаимный фонд денежного рынка
interest-bearing checking account текущий счет, на который начисляется процент
Words you may need:
payback period срок окупаемости
Words you may need:
stake n доля
CEO (Chief Executive Officer) главный исполнительный директор (корпорации, компании)
infusion n вливание
post v делать проводку, заносить в бухгалтерскую книгу
shrink v (зд.) уменьшать, сокращать
a) Foreign investors participating in the Russian market see that there are many difficulties and important differences in the structure and behavior of the Russian market. Though risky, investing in Russia gives many opportunities to earn profits and superprofits. Some investors managed to achieve remarkable returns by implementing strategies specifically tailored to the Russian market.
Foreign investments are coming to Russia as direct investments, i.e. financial participation in the creation of joint ventures and fully foreign-owned firms, and indirect or portfolio investments, i.e. purchase of stock, without sharing in the institution's management.
However, the influx of foreign capital is still insufficient. The process is hindered by high interest rates, inadequate tax and customs legislation.
Russian investment industry is developing rather rapidly. Russian investors are beginning to play a prominent role in Russia and abroad. Along with investing their own resources, they participate in investment auctions, help to allocate investment from international financial organizations.
Over the last three months, Russian mutual funds, known as payeviye investitsionniye fondy (PIFs), have collected $12 million. Though the money invested in mutual funds equals a mere 0.02%-0.05% of the Russian population's savings, this fact shows that people are prepared to invest. Russian mutual funds invest in government securities and equities. The main problem in investment activities in Russia is objective valuation of fund assets – Russia still lacks officially recognized valuation centers.
Russian investors have a tremendous potential for growth.
Words you may need:
superprofit n сверхприбыль
strategies tailored (to) стратегия, разработанная с учетом определенных требований
influx n приток
hinder v затруднять
mutual fund взаимный фонд
valuation n оценка