OREANDA-NEWS The turn to the East has turned into a powerful competition for Russian industrialists from friendly countries. This was stated by the head of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin. He was quoted by TASS.

He included Indonesia, Vietnam, Thailand, Malaysia and others among these such States. In addition, he admitted that it was not easy to enter the Chinese market with some high-tech products.

According to Shokhin, this state of affairs has become a serious challenge for the Russian industry. However, it is difficult to ensure high quality products in the domestic market if you do not gain a foothold in the external ones.

"It is very important that even small batches of technological products are exported," Shokhin is sure.

In early November, representatives of the RSPP complained about an unprecedented high increase in late payments from counterparties. Such dynamics may indicate an approaching wave of bankruptcies.

In addition, industrialists talk about the curtailment of many investment programs and complain that half of the tenders are won by Chinese suppliers.