A round table “Investment cooperation. Results, opportunities and prospects” was held during V Azerbaijani-Russian Interregional Forum in Gabala.
During V Azerbaijani-Russian Forum “Interregional cooperation: new opportunities for growth,” which takes place on June 23-24 in Gabala, the round table “Investment cooperation. Results, opportunities and prospects” was held. It was attended by the Department of Extrabudgetary Investment Projects of the Russian Ministry of Regional Development, business, development institutions and regional authorities of the Russian Federation and the Republic of Azerbaijan. The discussion was moderated by the Director of the Project Finance Department of Russian Investment Agency “Invest in Russia” Kirill Amelkovich and the President of the Export and Investment Promotion Fund in Azerbaijan (AZPROMO) Rufat Mammadov.
The round table participants discussed the prospects and potential of investment cooperation between Russia and Azerbaijan and measures to promote bilateral investment activity.
The representatives of the regional authorities of the Russian Federation held a presentation of the investment potential of Russian regions, in particular, the Republic of Bashkortostan, Stavropol Region, the Republic of Dagestan, the Republic of Tatarstan, the subjects of the Siberian Federal District. The realized and planned investment projects were presented to investors from Azerbaijan.
Much attention during the discussion was devoted to the measures of state support for investment provided by the federal government of the Russian Federation. The representatives of the regions of Russia admitted a major role played by the Russian Ministry of Regional Development in the growth of investment opportunities in the Russian regions and the positive dynamics of inflow of extrabudgetary investment.
Kirill Amelkovich spoke about the activities of the Russian Investment Agency “Invest in Russia”, which was established under the Ministry of Regional Development of Russia in late 2013.
The Agency provides a platform for interaction between all participants in the investment process: on the one hand, it acts as a single client center, a source of information about the investment potential of the Russian regions for foreign investors, on the other hand it creates an infrastructure to promote investment projects, providing a favorable investment climate.
The process of attracting investment as part of the activities of the Agency includes:
- – Identification of priority sectors for investments in accordance with the long-term development strategies of specific industries;
- – analysis of global trends in these industries, leading companies and opportunities for projects in Russia;
- – creating a list of potential companies that can become investors in Russia for the development of various industries;
- – negotiations and the formation of specific proposals for the implementation of investment projects.
Kirill Amelkovich said that starting from July, the Agency would conduct a series of trainings on attracting investments for regional investment agencies and development institutions and invited the Exports and Investment Promotion Fund in Azerbaijan to take part in seminars in order to exchange experiences and knowledge.
Head of “Information and Analytical Centre for Foreign Trade” Roman Liadov spoke about the foreign trade activities of Information and Analytical Center of the Ministry of Industry and Trade of Russia, created with the aim to assist the Russian exports and imports.
AZPROMO held a presentation of the investment climate and business opportunities of the Azerbaijan Republic. The Fund representatives spoke about the positive dynamics of cooperation between Russian and Azerbaijani business community: recently more than 30 business forums and meetings were held and there were four business missions of the Russian regions to the Republic, showing a steady increase in turnover. There is a widely diversified structure of mutual trade and investment: cooperation has been established on more than 200 activities.
Summing up the results of the round table, the Deputy Director of the Extrabudgetary Investment Projects of the Ministry of Regional Development Vakhtang Sagareyshvili noted that the potential for cooperation between the two countries in the field of investment is enormous; the package of potential joint investment projects is worth several billion rubles. According to him, the Ministry of Regional Development will further strengthen the cooperation between Russia and Azerbaijan and will render comprehensive assistance to Azerbaijani investors in Russia.