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Almost RUB 500 bln in agreements signed at Sochi investment forum

7 March 2017

The Forum was attended by 4,792 participants from Russia and 36 countries, including 900 media members

Participants in the Russian Investment Forum in Sochi at the end of February concluded agreements valued at RUB 490 billion, not including agreements whose amount is not a commercial secret, the TASS news agency reports.

“Over the course of the Forum, 377 agreements and protocols of intent were signed for a grand total of RUB 490.3 billion (based on agreements whose amount is not a commercial secret).The most significant among them include: the Vologda Region signed four agreements for a total of RUB 220 billion (including an agreement with Gazprom); the Krasnodar Territory concluded agreements for RUB 140 billion; the Republic of Adygea – 11 agreements for RUB 11.2 billion; the Republic of Crimea – 4 agreements for RUB 11.1 billion; the Rostov Region – 8 agreements for RUB 10.7 billion; the Republic of Ingushetia – 6 agreements for RUB 7.9 billion; and Sevastopol – 3 agreements for 2 billion”, the report says.

The Forum was held in a new format with a focus on the Russian domestic agenda.

“Switching the forum dates from September to February helped to evenly distribute the key economic forums held in the country throughout the entire calendar year and also maximizes the use of the infrastructure established in Sochi following the Olympic Games. Forty-one events were held as part of the business programme”, the report says.

More than 400 speakers and moderators took part in the discussions and debates at the Forum. The discussion participants discussed regional policy, the investment climate in Russia’s regions, opportunities to develop business and entrepreneurial activities, the challenges of the digital economy, improvements in production efficiency and the availability of energy infrastructure, funding for infrastructure projects and inter-budgetary relations.

The Forum was attended by 4,792 participants from Russia and 36 countries, including 900 media members. This year, 600 business representatives took part in the forum, including 520 Russian and 80 foreign representatives. A total of 350 Russian and 50 foreign companies were represented by their executives at the Forum. Ambassadors from five countries also took part in the Forum.

Sport doesn’t slow down business

Along with the business programme of the Russian Investment Forum in Sochi, sporting events were also held for its participants. More than 500 people took part in the second Sochi Corporate Games with 453 forum participants and Sochi residents running a race around the Formula One race track.

The forum’s sports programme concluded with a hockey match for the Roscongress Cup between the Russian government team jointly with Fenix Hockey Club and a team of Forum participants. The government team led by Deputy Prime Minister Arkady Dvorkovich won the match with a score a 7:3. He was joined on the ice by Minister of Transport Maxim Sokolov and Minister of North Caucasus Affairs Lev Kuznetsov. The team of Forum participants was led by Russian Capital Bank Chairman Mikhail Kuzovlev and Jugra Bank First Deputy CEO Yuri Melnikov.

The Russian
Investment Forum was held in Sochi on February 27–28. Its programme focused on
three thematic clusters: “New Regional Policy: Opportunities for Development”,
“Improving Business Performance: Opportunities for Growth” and “Projects for
Life”.

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