South Africa is committed to focusing on the development of its core competencies and a move from import substitution to self-sufficiency. The realization of these objectives for South Africa should lead to a future of sustainable economic growth. Inc. Dave's presentation highlighted a number of factors that have contributed to the declining economic stability of Russia and the overall effect on the business environment. There has been no unanimous agreement on major issues such as oil prices. There is a visible lack of leadership in the government.
Banks have been run like trust companies, Russia has no banking system in place.
There has been no development or implementation of a tax system to provide needed government funding. Even considering the current conditions plaguing the business environment in Russia such as hyperinflation, currency devaluation and a small undeveloped capital market, some firms, such as CAT, Boeing, and Motorola, have remained committed to their investments in Russia, maintaining a long-term view. Remaining in Russia provides ongoing challenges for these and other companies, and requires new and innovative solutions. It is widely accepted that Russia will remain capitalist, however, it will be some time before any improvement in the business environment will be realized. The US policy towards Russia has become passive in that it feels that Russia needs to learn to help itself.