On March 11, 2015, the InvestRus International Conference was held in Moscow. The conference, which has become an annual event, is a respected forum for the discussion of investment policy and the results of its implementation in the Russian Federation. The Conference is held annually under the auspices of the Investment Council under the Chairman of the State Duma of the Russian Federation with the support of the St. Petersburg International Economic Forum and the Foreign Investment Advisory Council.
Some of the key themes of the event included improvements to legislation, an analysis of regulatory enforcement, a discussion of the experience of the regions in attracting capital as well as the new economic realities. The conference was attended by more than 400 people: heads of federal and regional state authorities, industrial companies, commercial banks and investment funds, experts, representatives of financial institutions, development institutions, etc.
The conference’s key speakers included Sergei Naryshkin, Speaker of the State Duma of the Russian Federation, Kirill Dmitriev, General Director of the Russian Direct Investment Fund, Sergey Belyakov, Chairman of the Board of the St. Petersburg International Economic Forum Foundation, Boris Titov, Presidential Commissioner for Entrepreneurs' Rights, Igor Rudensky, Chairman of the State Duma Committee on Economic Policy, Innovative Development and Entrepreneurship, Andrey Nikitin, General Director of the Agency for Strategic Initiatives, Galina Izotova, Chairman of the Management Board of Non-Banking Deposit Credit Organisation of the Credit Guarantee Agency, Alexander Ivlev, EY Managing Partner for Russia, and Kirill Androsov, Managing Partner of Altera Investment Fund.
“We have seen how the authorities a group of Western countries are putting pressure on their own national business and their own companies in an attempt to restrict cooperation with Russian companies and Russian enterprises. This concerns both investment in the Russian economy as well as the capital investments made by our companies in foreign nations. It is ironic that this is taking place at a time when in fact our opponents themselves cannot boast about major successes in their own economic policy or any significant results. Yet many of them are still willing to cause harm to their own economy for the sake of political ambitions. Of course, this is a violation of the norms of international law, the principles of a market economy and the principles of fair and open competition,” Sergei Naryshkin, Speaker of the State Duma of the Russian Federation, said at the conference.
“Over the last year, amendments have been made to roughly 40 federal laws aimed at reducing barriers for business. As a result, we have seen positive dynamics in global ratings on improved business climates and we intend take this further. This year another 35 federal laws are to be adopted during the spring session. All the barriers that businessmen describe as basic ones will disappear,” said Andrey Nikitin, General Director of the Agency for Strategic Initiatives.
One of the talking points at the conference was that more investment is coming from the East given the aggravation in relations with the West. In particular, Kirill Dmitriev, General Director of the Russian Direct Investment Fund, suggested that Chinese investment in the Russian economy will be comparable with European investment in the next two to three years. “We believe this year and next year that there will be considerably more money from China, which will replace European money. Within two to three years, the flow of investment from China may be just as much as the previous flow of investment from Europe,” said Kirill Dmitriev, noting that he was referring to tens of billions of dollars.
All the proposals by this year’s conference participants will be systemised and presented as recommendations to the government authorities and investors. Naryshkin approved the third InvestRus International Conference to be held in spring 2016.
In continuation of the dialogue about investment policy in Russia, a meeting was held on March 12 between State Duma Speaker Sergei Naryshkin and the heads of Russian subdivisions of major foreign companies. Naryshkin promised that, despite all the recent events, Russia will not shut itself off from the world, will remain a democratic state with an open economy based on market principles and fair competition.
General partner of conference – OFK Bank.
General sponsor of conference – Norilsk Nickel. Official partner of conference – Bank for Development and Foreign Economic Affairs (Vnesheconombank).
Programme partner – EY.
Official conference website: http://russia-invest.ru/
Photo gallery: http://russia-invest.ru/konferenciya/galereya/fotoalbom_1/