Will St. Petersburg’s International Economic Forum Break Records? Experts Certainly Think So
Back to St. Petersburg. The first contracts have already been signed at the 2018 World Economic Forum. More than 40 major investors from all over the world with a total turnover of more than $14 trillion have gathered here. All of them are interested in Russian business. The entrepreneurs are ready to invest in joint projects despite the sanctions. These deals will be crucially important for our country.
Tatiana Remezova with the details.
Energy, agriculture, healthcare. Many of the agreements signed today will make our daily life more comfortable. For example, the French public utilities company Veolia, which specializes in water purification and clean energy, is ready to invest in Rosvodokanal. The company has long been working in Europe and the US and now wants to take hold in Russia.
Philippe Guitard, CEO of Veolia: "We've been working in St. Petersburg, Crimea, and Yalta since 2008. You aren't going to leave, are you? Why should we? We are confident about moving forward in terms of our cooperation with Russia".
France also heavily invests in pharmaceutics. The Sanofi facility in Orenburg has been producing insulin for seven years. A year ago, it started exporting pharmaceuticals to Europe.
Olivier Charmeil, Executive Vice President of Sanofi: "We'll continue to fund the production of insulin. Russians will get the best treatment in the world. Digital technology has revolutionized our fight against diabetes. By exchanging technology, we ensure that the patients get the best medications".
Veronika Skvortsova, Minister of Health: "The majority of companies are switching to a full-cycle production in Russia. It means the medicine will be Russian, but produced by top French pharmaceutical companies".
The regions of Russia have also signed some major contracts. The Tula Oblast has signed a joint pact with an aerospace corporation to form a cluster being dubbed the "Composite Valley". They will produce new generation polymer materials.
Alexey Dyumin, governor of the Tula Oblast: "We're trying to attract new companies that will implement innovations in order for their products to be in high demand in the aerospace, space, and UAV industries. That's why we're interested in working together".
Yaroslavl has a whole bunch of contracts. Rosseti, Rostech, and the joint shipbuilding corporation Interrau are ready to invest in it.
Dmitry Mironov, governor of the Yaroslavl Oblast: "We've signed a series of strategic contracts with major Russian companies. They will help us develop our industry and attract more investment".
Regional industries require long-term investment. This powerhouse meeting is dedicated to finding it.
Andrey Turchak, Deputy Chair of Federation Council: "Regions want to save 1-2% of the value-added tax in order to motivate and support the local industry".
The Sirius Educational Center has signed contracts with powerhouse companies such as Sibur, Yandex, Rostech, Rosneft, and Russian Railways. This summer, Yandex will open a developer office in Sochi which, among other things, will be developing self-driving cars. Yandex employees will give lectures to high school and college students.
Yelena Shmelyova, head of Talent and Success Fund: "Russia is the land of opportunities. We have to discuss them with our kids. Moreover, these kids will have a chance to take part in our new educational programs where they'll see a practical example of all those challenges and opportunities".
Creating bridges and circumventing limits: Business always goes for potential
Rainer Seele, CEO of OMV: "The consensus implies that we are to prepare a natural gas production program and understand which industries are ready to invest. I see Russia rapidly develop whether we are talking about sanctions, security, or transportation. Russia is a great place to do business. Foreign companies are highly interested in investing in Russia."
The hosts haven't yet disclosed the total number of signed contracts. But the 2018 World Economic Forum has everything it needs to break the previous years' records.
Tatiana Remezova, Anton Kozimovich, and Alexander Feoktistov for Vesti, St. Petersburg.