RosBusinessConsulting's 11th international investment conference "Russian and Ukrainian business under new conditions: risks and prospects" was held in the Swiss city of Gstaad from March 20 to 23. Free capital flows are one of the most important conditions for development in liberal economies. Investments move to where they feel fairly secure. Money is careful and timid. The level of economic development and political stability in a state are investor's guarantees. Respectable Switzerland is a unique place where financial flows and business interests intersect. Chivas Regal whisky was the general sponsor of RBC's investment conference. Business in the former USSR has specific problems. They are imperfections in the law, the poor development of society's civil institutions, and recent high-profile lawsuits. For example, Ukrainian law does not have provisions (as opposed to Russian law) that would afford fairly ample opportunity for the more or less legitimate acquisition of companies.

Russia and Europe are involved in global economic processes. Head of the Department for Central and Eastern Europe of Credit Suisse Bank Arno Leclercq declared at the conference that Russia, excluding the 70 years of Soviet power, has always been and is part of Europe. Cooperation with European countries is an efficient way of transforming the national economy into a transnational one. Russia's interest in Europe was confirmed by the participant's level. Among theme were Alexey Ulyukayev, senior deputy chairman of the Russian central Bank; Arkady Dvorkovich, chief of the Russian President's expert department; Viktor Gerashchenko, chairman of YUKOS's board of directors; Boris Nemtsov, chairman of the Neftyanoi Concern board of directors; Alexander Livshits, Deputy General Director of the RusAl-Management Company; heads of major companies, leading economists, public figures and top-echelon officials.

The conference's program included such topics as: "Long-term investments for Russian business", "Investments in business infrastructure", "Modern trends on the M&A market", etc.

Arno Leclercq also pointed out that Europe did not always understand the language of Russian business. What is necessary is a common investment language, civilized lobbying of Russia's interests in the West, and the creation of a reputation for Russian businessmen as people not tied to criminal circles.

Mikhail Delyagin, Board Chairman and Director of Research at the Institute of Globalization Studies, told the conference that "Putin's five years," during which impressive results were achieved, had come to a close. But oil revenue has stopped influencing the economy considerably and Russia urgently needs structural economic reforms.

Investors' confidence is fragile. To create an atmosphere of confidence for investors in our economy, high-level political solutions, competitive business, modern management, and various forms of international contacts are necessary.