Moscow hosts a seminar on cooperation with the UAE

 Tatarstan Investment Development Agency Taliya Minullina participated in the seminar "Practical issues of attracting foreign investment in the Russian regions. Preparation of projects for UAE investors".

Among the participants of the event were the Vice President of the Moscow Chamber of Commerce and Industry Suren Vardanyan, head of the Commission on foreign economic cooperation with the UAE Alexey Busev, Head of Investment Promotion and Innovationof the Chamber of Commerce and Industry of the Russian Federation Alexey Vyalkin.

UAE direction: work continues

O the Emirates market currently works a number of Russian companies. For example, "Stroytransgaz" constructed a gas pipeline across the country. In addition, there arenegotiations to attract  2 billion dollars that the UAE plans to invest in the Crimea, which has a special economic zone. However, the potential of bilateral economic relations is far from being exhausted.

Today the trade turnover between Russia and the United Arab Emirates is 2.2 billion dollars over the past 5 years, this figure increased by 2 times, but it still remains low. Even more modest performance in the field of investment.

So, in 2014 Emirates invested in 60 countries more than 100 billion dollars, but the share of the Russian Federation in this indicator is very small, noted the Head of the Department of Investment Promotion and Innovation Alexey Vyalkin. This is due to the fact that the business community of Gulf monarchies evaluates investments in the Russian economy as risky.

At the same time, the Chamber of Commerce and Industry of the Russian Federation for more than two years continues to work on attracting investments in the Russian regions from the United Arab Emirates. Emirates can be seen as a "gateway" to the Gulf countries, having more than $ 1.9 trillion total investment potential.

Search for investors: focus on results

At the seminar, information was announced that one of the important activities of the RF Chamber of Commerce and Industry is to find partner companies at the request of foreign companies. From March 2013 on regular basis holds sectoral investment session, and such a big event as the Russian week of public-private partnership has proven to be necessary, including for investment.

In the Chamber of Commerce and Industry of the Russian Federation there is mechanism of processing of investor’s  treatment: consideration period is 10 days, each project is supervised by a representative of the Chamber. Relevant departments makes analysis and revision of investment proposals based on a set of requirements. In addition, a pool of investment companies and banks was made, provided  holding of qualified expertise. This algorithm works brings some results.

An example of a successful project is the Russian-Croatian direction said therepresentative of the RF CCI. So, after the application of one of Croatian companies operating in the production of uniforms, in the Ivanovo region high-tech enterprise has been launched jointly with the Russian company "Textile-M". Also on 17 February to be hold the Russian-Croatian Forum, which will be attended by representatives of 68 companies.

Investor interested in investing in jointly developed projects

Alexey Busev, Chairman of the foreign economic cooperation with partners in the UAE and Managing partner of INCONA Middle East Business Consulting, in his speech paid special attention to the work of Russian regions with potential investors. In his opinion, it is necessary to carry out the attraction of investments by constructing joint projects that are of interest to the investor. In this case, the proposal must be very specific. Projects developed in a unilateral way – is the yesterday, he said.

Hope for Tatarstan

During the seminar, the Republic of Tatarstan was noted as one of the regions, successfully interacting with the UAE and other Arab countries.

"For our country is one of the priorities. On behalf of the President of Tatarstan work with the Middle East countries will be strengthened. Such seminars held in the Moscow Chamber of Commerce and Industry is a tool to improve the operation of an investment activities subjects, to intensify efforts to create a flow of investments into the Russian economy, including Tatarstan from  the Gulf States", - said TIDA Chief Executive Taliya Minuliina, participated in the seminar.

TIDA Press Service Iskander Akhmedov