KazanSummit 2013: 1 billion dollar investment contracts

During the V International Economic Summit of Russia and OIC countries were signed seven agreements, five of them - as part of the latest trend of the world, the ambitious project of the Republic of Tatarstan - Kazan Smart City.

On October 2-3 Kazan held the 5th summit of cooperation between Russia and OIC countries. The summit took place at the site of the International Information Centre (Universiade Village).

Summit has begun from a business lunch of the President of the Republic of Tatarstan Rustam Minnikhanov. Moderator of the morning meeting, which was attended by representatives of major Russian and foreign companies of the world, was ​​ Tatarstan Investment Development Agency Chief Executive Linar Yakupov.

The President of the Republic of Tatarstan noted that the KazanSummit is not only a place where meets the Russian and the Islamic world, but also a great opportunity to present the economic and investment potential of Tatarstan.

On the same time with breakfast at the KazanSummit 2013 site held "Smart cities - economic development of the regions" forum, business forum "World trade as a tool for economic growth" and the "Promoting Foreign Direct Investment (FDI) in the era of investment promotion agencies."

In the second half of the day was a traditional Conference on Islamic Economics and Finance, Investment Forum "Investments in Russia: New Horizons", where discussed the experience, opportunities and challenges of investing in Russia, as well as the media forum.

During the conference on Islamic economics and finance were discussed the trends in the global market of Islamic finance and the development of Islamic finance in the Russian Federation. At the conference the international news agency Thomson Reuters has presented a road map for the development of Islamic finance in Russia and Tatarstan. According to the plan, Tatarstan has all chances to become a center for Islamic finance in the CIS countries.

One of the presentations was devoted to the development of Islamic finance in the Republic of Kazakhstan. Daniar Akishev presented the development of the economic sector and the opening of the first Islamic bank "Al-Halal" in the Republic of Kazakhstan.
The second session of the Conference on Islamic Economics and Finance has been devoted to the development of Islamic finance in the Russian Federation. In this session discussed the issues of structuring of Islamic finance transactions in the Russian conditions and the difficulties which can evolve during the implementation of Islamic financial instruments in Russia and the Republic of Tatarstan.

Opinions of journalists and experts in the field of the media were performed at the media forum of the International Economic Summit of Russia and OIC countries. At the media forum were discussed the role of the media in creating and broadcasting the image and investment portrait of Russia and its regions.

The construction of the new business hub of Russia - International Investment technopolis Kazan Smart City began on October 2 as part of the V International Economic Summit of Russia and OIC countries (KazanSummit 2013). The groundbreaking ceremony of a new investment platform was attended by President of Tatarstan Rustam Minnikhanov, Tatarstan Investment Development Agency Chief Executive Linar Yakupov, Deputy Chairman of the Federation Council Ilyas Umakhanov, Chief Architect Norliza Hashim, Chairman of Tatarstan Gulf Investment Company Khaled Al Jassim and the Head of Laishevsky region Mikhail Afanasyev.

 At the foundation of the future city were four putting-stones, which represent the main areas of International Investment Technopolis (IIT) Kazan Smart City: research and education area, cultural and business center, a special economic zone, a park zone. These zones are defined as the main economic growth points of the republic and implemented at the site of the Technopolis.

The operator of the Kazan Smart City project in the ceremony received a certificate from the Green Building Council (RuGBC). Certification confirms that the JSC "Tatarstan Development Corporation" is a member of the non-profit partnership on promoting the creation and implementation of rules and regulations of environmental construction, and uses principles and ideas of "green" building in the Kazan Smart City project.

The second day of the World Economic Summit began with a parliamentary session. On the second day of the summit scheduled parliamentary session, the strategic forum and exhibitions.

Cooperation of parliament of the Russian Federation and the OIC countries, business and investment climate, strengthening of peace and stability, the promotion of dialogue among cultures and civilizations was the subject of a consultative meeting of the parliamentary session. In the parliamentary session performed the representatives of Pakistan, the Kingdom of Morocco and Bahrain. It was noted that the delegation of the Kingdom of Bahrain for the first time take part in the parliamentary session of KazanSummit. At the parliamentary session also performed the OIC Secretary General Ekmeleddin Ihsanoglu. He underscored the role of the private sector, as well as Islamic investment in the economy.

Strategic Forum traditionally began with the reading of the Holy Koran, which performed the Mufti of the Republic of Tatarstan Kamil hazrat Samigullin.

Speakers at the strategic forum were the Tatarstan President Rustam Minnikhanov, Secretary General of the OIC Ekmeleddin Ihsanoglu, Deputy Chairman of the Federation Council of the Federal Assembly of the Russian Federation Ilyas Umakhanov, Deputy Minister of Economy of the United Arab Emirates Abdullah Al Saleh, Deputy Minister of Economy and Trade of the State of Qatar, Sultan Al-Khater and Ambassador Konstantin Shuvalov. The presidium also attended the first president of the Republic of Tatarstan Mintimer Shaimiev.

The President of the Republic of Tatarstan Rustam Minnikhanov noted the investment potential of the republic, the development of the Islamic world, the existing experience of Tatarstan in the field of Islamic finance. The first president of the Republic of Tatarstan Mintimer Shaimiev said about the importance of KazanSummit. The Secretary General of the OIC countries Ekmeleddin Ihsanoglu, in his speech underscored the strengthening of cooperation and increasing trade between Russia and OIC countries.

The forum ended with the ceremony of signing of several agreements. Tatarstan Investment Development Agency has signed three agreements concerning Kazan Smart City project - with Singapore Radiance Hospitality Group, Tatarstan Gulf Investment Company (TGIC) and the TGT Oil and Gas Services. Agreement was also signed between TIDA and the insurance company "Alliance Life" on cooperation in the development of the insurance product "Takaful" on the territory of the Republic of Tatarstan.

The operator of the Kazan Smart City project - JSC "Corporation of the Republic of Tatarstan" has signed a memorandum of cooperation with Schneider Electric on the development of the concept of ICT Master Plan.

The total amount of the investments is about $ 1 billion.

The first - the amount of 760 million dollars agreement was signed between the Tatarstan Investment Development Agency and Tatarstan Gulf Investment Company (TGIC) on the development of commercial real estate in Kazan Smart City. Document was signed by TIDA Chief Executive Linar Yakupov and TGIC CEO Khaled Al Jassim.The second investment agreement TIDA Chief Executive signed with the Director of one of the first investors in the project - Radiance Hospitality Group - Lim Shuie Tien. 180 million dollar agreement is about the implementation of the Management and Hospitality University, transit hotel and apart-hotel in Kazan Smart City.The third investment agreement was signed between the Tatarstan Investment Development Agency and one of the first residents of the investment platform - an international oilfield services company TGT Oil and Gas Services. The claimed investment is 11 million dollar. From TGT Oil and Gas Services document was signed by Company Director Georgi Vasilev.

At the Strategic Forum was also signed a Memorandum of Understanding between «Wipro Technologies Limited» and the project operator - JSC "Tatarstan Development Corporation" on the development of Kazan Smart City ICT master plan.

Tatarstan Investment Development Agency Press Service