VEB Group participates in the 14th International Investment Forum Sochi-2015

In the course of the Forum in the city of Sochi organizations comprising Vnesheconombank Group entered into the following agreements:

• Vnesheconombank and CJSC R-Pharm entered into a credit agreement to fund a project on the creation of an advanced pharmaceutical production facility to manufacture import substitution pharmaceutical substances and finished pharma products in the Yaroslavl region as well as to fund R&D program. A total value of the project on the creation of an advanced pharmaceutical production facility to manufacture import substitution substances and finished pharma products in the Yaroslavl region as well as funding for the R&D program of CJSC R-Pharm is 19.7 billion rubles, with Vnesheconombank’s participation share being 14.61 billion rubles. The project provides for constructing a pharm-substances plant in the city of Rostov and the second stage of the finished pharma products plant in Yaroslavl as well as completing R&D on seven original medications – innovative developments including those intended for exports;
• The Russian Direct Investment Fund (RDIF, VEB Group), the Russian Transport Ministry, Federal State Unitary Enterprise Rosmorport signed an agreement on cooperation to jointly implement a project on the construction and operation of a seaport “Taman” in the Krasnodar Territory;
• In the course of the 14th International Investment Forum Sochi-2015, SME Bank (VEB Group) and the Administration of the Krasnodar Territory signed an agreement on cooperation in supporting small and medium-sized enterprises. The parties are to join their efforts to make credit facilities more available for small and medium-sized enterprises involved in implementing investment projects. The Krasnodar Territory is a leader among Russian regions in implementing SME Bank’s Program.
• In the course of the 14th International Investment Forum Sochi-2015, SME Bank and non-profit organization (NPO) the Mono-Cities Development Fund signed an agreement on cooperation in supporting small and medium-sized enterprises registered in mono-cities and on territories of accelerated socio-economic development;
• Non-profit organization the Mono-Cities Development Fund (VEB Group), The Agency for Strategic Initiatives to Promote New Projects signed an agreement on cooperation;
• SME Bank and the Government of the Trans-Baikal Territory signed an agreement on strategic partnership in supporting small and medium-sized enterprises. The partnership will be aimed at increased lending to enterprises and at making financial resources more available for SMEs available. The parties are to focus their efforts on implementing investment projects aimed at developing innovative, energy-saving and import-substitution production facilities. The Trans-Baikal Territory is an important Russian region for implementing SME Bank’s Program. In the course of the Program’s implementation, support worth 1.26 billion rubles was provided to 541 enterprises.

On the opening day of the 14th International Investment Forum Sochi-2015 the North Caucasus Development Corporation (VEB Group) presented a unified investment portal of the North Caucasus Federal Distract – investkavkaz.ru. At this resource, topical information on the region’s investment activity is accumulated on-line. Here you can find recommendations on raising co-financing, description of measures for supporting investors, an interactive map of investment projects, news and information of each entity of the North Caucasus Federal District.

Moreover, the Corporation together with the Ministry for North Caucasus Affairs presented the brand ECO Product of North Caucasus. JSC the North Caucasus Development Corporation received a certificate of the Federal Agency for Intellectual Property for the right to use the brand “ECO Product of North Caucasus” on the territory of the Russian Federation in categories of industrial and consumer products, agricultural and food products. The brand ECO product of North Caucasus was created to support commodity producers of the North Caucasus Federal District and promote the region’s products at the federal level.

Vnesheconombank’s delegation took part in the following events:

Vnesheconombank approved participation in 26 investment projects contributing to import substitution in the amount of more than 500 billion rubles, with VEB accounting for 364 billion rubles. VEB is examining 15 import-substitution projects in the total amount of 164 billion rubles.
• Vnesheconombank Chairman Vladimir Dmitriev spoke at the Forum’s main plenary session “Getting back to Economic Growth. Mid-Term Strategies for Russia”. He also spoke at a round-table session “Import Substitution. Check up of Implementing Sectoral Plans. Mr. Dmitriev participated in a meeting of the Government Commission on Import Substitution chaired by Russian Prime Minister Dmitry Medvedev.
  
  Vladimir Dmitriev: “Most of the projects funded with Vnesheconombank’s assistance deal directly or indirectly with import substitution. Vnesheconombank funded such large-scale projects as Tobolsk-Polymer. Vnesheconombank provided about 2 billion dollars for the construction of a major integrated plant to process and utilize associated petroleum gas which is used to manufacture polypropylene, which has been up to now purchased abroad. - Vnesheconombank invested significant financial funds in the domestic automotive industry, which manufactures now competitive products with the assistance and cooperation links of such large automakers as Ford, Fiat and Japanese automakers. Such projects include “Ford Sollers”, AvtoVAZ, KamAZ. Vnesheconombank invested in these projects more than 100 billion rubles. There are also other projects but I’d like to stress that as far as import substitution is concerned we should try to find out where small and medium-sized enterprises might want to operate. Providing support for small and medium-sized enterprises is also one of pour top-priority lines of activity. We should support SMEs in such a way that they could get involved in import-substitution projects, in manufacturing high-tech competitive products.
• Vnesheconombank First Deputy Chairman – Member of the Board Andrei Sapelin participated in a session on the following theme “How to make strategies for the development of regions to work?” He also spoke at a round-table discussion “Development Institutions. What did we manage to achieve?”
  
  Andrei Sapelin: “At least 5 years are needed to implement innovation projects successfully. The main result is that we have already implemented dozens of projects. An average investment phase of a serious project, whether it be an industrial or an infrastructure one is 3-5 years today. Most of our projects became budget-forming ones in the regions. As a rule, enterprises and businesses funded by us start to operate they are among three largest taxpayers.
• Vnesheconombank Deputy Chairman (Chief Economist) – Member of the Board Andrei Klepach took part in the following debates: “Budgetary Policy in 2016-2018 –Short-Term Challenges and Long-Term Priorities”, he also participated in a round-table session “Russian Economy’s Changing Structure, Sectors, Property, and Economic Growth Models and - in a panel discussion: “Options of Overcoming Investment Crisis”.
• Vnesheconombank Deputy Chairman Irina Makieva became a moderator of a brain storm event: “Drivers of Developing Diminishing Cities as exemplified by Mono-Cities”. She also participated in a round-table discussion “Small and Medium-Sized Enterprises. Consolidation of Support Measdusers – a Recipe for Successful Development”.

In the course of the Forum Vnesheconombank Chairman Vladimir Dmitriev answered journalists’ questions.




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