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Siberian Energy Group, Inc. (OTCBB: SIBN) (SEG) a U.S.-based publicly traded oil and gas exploration company with 100% of its assets located in West Siberia, Russia, announced today that Helen Teplitskaia, President of SEG and the American-Russian Chamber of Commerce & Industry, spoke at the Saint-Petersburg International Economic Forum, June 6-8, in Russia.
Organized by the Ministry of Economic Development and Trade, Presidential Administration and Government Administration of the Russian Federation jointly with the St. Petersburg Forum Foundation, this event is regarded as “Russia’s economic event of the year,” where under the patronage of President Dmitry Medvedev, international government and business leaders, academics and the media gather to discuss Russia’s growing role in the World economy, opportunities for trade and investment and find constructive solutions to challenges presented by globalization, climate change, and international financial markets volatility.
Teplitskaia, who is a leading authority on Russian/Eurasian affairs, spoke at a roundtable on the second day of the Forum, titled "Corporate governance in Russia as seen by foreign investors.” Her comments focused on a significant progress achieved by Russian companies in entering global markets and attracting foreign investment. She also highlighted an urgent need to increase transparency and enhance reputation of the Russian companies abroad.
"As Russian economy is gaining momentum, Russian companies are aggressively expanding at home and abroad. Just during last two years, 49 Russian companies conducted IPOs raising $49 billion from the public markets. From a mere $200 million in 2004, by the end of 2007, Russian market capitalization skyrocketed to $1.2 trillion. Such success in winning investor confidence would not have been possible without revolutionary changes in Russian corporate governance and increased compatibility with international standards. However, thousands of “second” tier companies are still falling behind and could benefit substantially from foreign investment once their management practices become more transparent and efficient.” said Teplitskaia.
Throughout her career, Teplitskaia has successfully assisted a variety of government agencies and private sector companies, including the United States Agency for International Development, Ministry of Foreign Affairs of the Republic of Uzbekistan, AT&T, Baker & McKenzie, Case New Holland, Gazprom, HeidelbergCement, Ingersoll Rand, Motorola, Pepsi-Cola and the Washington Times Corporation with start-up operations in new markets, mergers and acquisitions, joint ventures, political interfacing and media relations.
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