Putin: Russian Market Largest in Europe in Many Aspects / News / News agency Inforos
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Putin: Russian Market Largest in Europe in Many Aspects

Seventh International Investment Forum Sochi-2008 opened in Sochi this Friday. The forum is sponsored by the Ministry of Economic Development, Ministry of Foreign Affairs, Ministry of Regional Development, Office of the RF President’s Political Representative in the Southern Federal District, RF Chamber of Commerce and Industry and Administration of the Krasnodar Territory.

The forum is expected to become a platform in Russia for communication of Russian and foreign business leaders, scientists, state officials and public figures to promote foreign investments in the national economy. About 8,000 people will participate in the forum. A total area of all exhibition grounds is more than 30,000 sq. meters. Several dozen investment projects of various Russian regions will be presented in exhibition halls.

The forum will be attended by the heads of 44 Subjects of the Russian Federation, first persons of the country, as well as Prime Ministers of France, Belgium and Bulgaria, ambassadors and heads of diplomatic missions of 18 countries. The forum agenda includes the conduct of two conferences and more than 20 roundtables.

Minister of Agriculture Alexei Gordeyev, Minister of Economic Development Elvira Nabiullina, Minister of Regional Development Dmitry Kozak, Minister of Education and Science Andrei Fursenko, deputy ministers and heads of federal agencies are invited to make their communications and participate in the discussions. The forum will be visited by governors, top-managers of the largest Russian companies, diplomats and experts.

The event is mainly devoted to investment opportunities of Russia. However, for the beginning the attendees will discuss the world economic crisis and its impact on the Russian financial market. State officials and experts will review such large investment projects as Olympics-2014, special economic zones, gambling zones and state-private partnership investment opportunities. Besides, the participants will discuss the following subjects – The Russian Agriculture: Potential of Leadership, The Azov-City Gambling Zone: Problems and Practice, The Special Economic Zones: Driver of Local Growth, The Development of State-Private Partnership in Implementation of Transport Investment Projects, Why Do We Take Holidays in Turkey? , The Potential of Tourist Business Development in Russia, The South Federal District Economic Development Strategy, The “Russia” Brand as Factor of National Investment Attractiveness, and others.

The work of the Seventh International Investment Forum started with an address of RF Prime Minister Vladimir Putin. In his address he pointed out that the fundamental indicators of the Russian economy are normal.

"All fundamental indicators of the Russian economy are within normal limits including a balance of foreign trade and budget surplus”, the Russian Premier claimed.

"The Government and Central Bank have sufficient reserves to protect the Russian currency and financial system”, he said.

According to Vladimir Putin, the Russian market is the largest in Europe in many aspects.

"Out market in many aspects has already become the largest in Europe. There are few countries in the world that are ready to provide the business community with such broad spectrum of opportunities – from investments in the agriculture and building and housing utilities up to the Olympic Project and high technologies”, he said.

"In general, we have a solid basis for investments. Russia is the seventh largest economy of the world. This decade, the GDP has been increasing approximately by 7 per cent annually, and real earnings of the population have been increasing by more than 10 per cent annually on the average”, the Premier emphasized.

Besides, Vladimir Putin claimed that Russia will attract private business. As for the foreign investments, the Premier said that the Russian Federation is interested in these investments. In so doing, he emphasized the accessibility of Russian companies in the foreign markets. In particular, he pointed out that the control stake in many Russian companies belongs to foreign investors. Speaking about oil companies, Putin expressed his expectation that in certain transactions the Russian oil and gas sector will change to settlements in Rubles.

According to experts, several-billion-Dollar investment agreements may be signed at the forum.
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