Gaidar Forum experts discuss investment attraction under sanctions
Experts at the Gaidar Forum 2017 have discussed ways to overcome Russia’s raw material dependence, diversify the economy and attract investment into industry in an industrial policy debate.
The discussion was moderated by Yermolai Solzhenitsyn, Managing Partner of the Moscow Office of McKinsey & Company. Other participants included Denis Manturov, Minister of Industry and Trade; Valentin Gapanovich, Senior Vice-President of Russian Railways; Pyotr Fradkov, Director General of Russian Export Center; Kirill Dmitriev, CEO of Russian Direct Investment Fund; Dmitry Zauers, Deputy Chairman of the Gazprombank Management Board; and Alexei Rakhmanov, President of United Shipbuilding Corporation.
Russian Direct Investment Fund communicates with investors in various countries. CEO Kirill Dmitriev commented on what industries in Russia are most appealing to foreign investors: “Investment is surrounded by many myths that can be simplified and disassembled into simple formulas. Investors are interested in profit, in capital, they compare potential profits with the yield they can get in other jurisdictions, respectively adjusted for risk. It is important to understand that Russia is a competitor among other countries that attract investment, so it needs to offer a higher yield, which would justify the risks, or should dramatically reduce these risks. Being a state fund, many investors are comfortable investing with us, so we have managed to attract 900 billion rubles.”
Organizers of the Gaidar Forum: “The Russian Presidential Academy of National Economy and Public Administration” (RANEPA), The Gaidar Institute for Economic Policy (Gaidar Institute) and the Association of Innovative Regions of Russia (AIRR).
Web: the Gaidar Forum
General partner: Gazprom. Financial partner: Otkritie Bank. Strategic partners: Gazprombank, Unilever, ACIG Group of Companies, Johnson&Johnson, Novartis Group in Russia, Masterсard, Yegor Gaidar Foundation, MSD. Official partners: Microsoft, RVC. Partners: EY, Cotton Way, The Russian Brewers' Union, Tomsk region. Insurance partner: Rosgosstrakh.
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