From: A miracle begins to emerge in the Russian economy
Soviet-era managers have been replaced, companies have been restructured and into the arena have stepped a new generation of businessmen, often in their thirties, who deemed the making of money by entrepreneurship rather than asset stripping and corruption the preferable road to take. Interestingly these capitalists have not taken the path many western advisers advocated, building up small businesses as in Poland. Instead, they are working at developing heavy industry, building sizeable conglomerates that use the cash generated by oil or metals businesses to invest in manufacturing companies that they bought at knock down prices after the crash. Although ruthless in sacking over manned workforces most of them have leant support to Putin's plans for radical tax reform and judicial reform. They tend to be pro Western and open to bringing in Western managerial and technical expertise.
And the Russians own it all themselves:
From: Russian economy forges on as confidence stays strong: Violent siege leaves business unfazed
Russia's burst of economic growth over the past three years has been driven by local businessmen upgrading oil and metals companies acquired in the 1990s after the collapse of the Soviet state. Foreign investment has played little part in the action.
Heresy!