Topical Issues of Organization, Support, and Protection of Investments in Russia and the OIC Countries

Organiser: The Chamber of Commerce and Industry of the Russian Federation.

Venue: Hall 8, International Exhibition Centre Kazan Expo, Kazan

Time: May 19, 2023, 14:40–16:00

Moderator: Dmitry Kurochkin, Vice President of the Chamber of Commerce and Industry of the Russian Federation

Speakers:

Vladimir Gamza, Chairman of the Council of the Chamber of Commerce and Industry of the Russian Federation on Financial, Industrial and Investment Policy, President of “AlexanderGRAD Brownfield” Group;

Timur Khakimov, President of the Chamber of Commerce Union of the Republic of Bashkortostan;

Artem Genkin, President of the ANO “Centre for the Protection of Depositors and Investors”, member of the Council of the Chamber of Commerce and Industry of the Russian Federation on Financial, Industrial and Investment Policy;

Mikhail Tumasov, Head of the Representative Office of the Chamber of Commerce and Industry of the Kyrgyz Republic in the Russian Federation; 

Hadi Tizhoush Taban, President of the Iran-Russia Joint Chamber of Commerce, the Islamic Republic of Iran;

Dawood Al Shezawi, President of the Annual Investment Meeting, the UAE;

 Anton Kiryanov, Director of Development of “AlexanderGRAD Brownfield” Group.

The challenges faced by businesses today require a distinct and well-aligned approach to investing, structuring and implementation of investment projects. Prior to launching an investment project, every investor shall know what measures of government support can be applied for, and under what circumstances they are available.

The Vice President of the Russian CCI Dmitry Kurochkin told that since 2011 this body implements a project for investment facilitation infrastructure that involves joint efforts of regional authorities, regional CCIs and the Russian CCI in the scope of investment projects. He also noted that at present the share of investing from Islamic countries is below 5%. Partnership financing becomes increasingly popular amid economic instability. The State Duma of the Russian Federation adopted in the first reading a draft law on the establishment of an experimental legal regime for partnership financing in individual constituent territories of Russia (Tatarstan, Bashkiria, Chechnya and Dagestan).

The Chairman of the Russian CCI’s Council on Financial, Industrial and Investment Policy Vladimir Gamza noted that in developed countries 2/3 of capital investments came from the financial market. As for Russia, 2/3 of investments are own funds of enterprises. Over 30 years, the industrial potential of Russia has reduced by half. He told about the government measures for the development and support of investing in industrial renovation and noted that, to intensify investment activity, it is necessary to refocus state institutions on the project financing model, establish unified institutions to facilitate development, implement sectoral and regional programs for enterprise construction and modernization.

The President of the ANO “Centre for the Protection of Depositors and Investors” and member of the Russian CCI’s Council on Financial, Industrial and Investment Policy Artem Genkin noted that investment activity in the country is showing growth. According to the Central Bank, 26% of companies plan to increase investment activity this year. Despite the sanction pressure, investment growth drivers exist in Russia. “The key drivers are the need to change economic connections and technologies, the course on import substitution, federal and regional measures of government support,” he said. Artem Genkin highlighted the major positive trends: the increase of capital investments, the growth of state financing for infrastructure projects, the expansion of investing in the sphere of import substitution, the establishment of new domestic industries.

The participants spoke about measures to support investments in the OIC countries, and a resolution with consolidated expert proposals was prepared following the session.