"Agitation Train" by German Gref

Russian regions went to Cannes to meet investors

Minister of Economic Development and Trade German Gref has changed the tactics of luring foreign investors to Russian open spaces. Now, it seems, he has adopted the well-known principle “if the mountain does not come to Mohammed...”. If earlier the work was carried out with those who had already reached Moscow, now the minister decided to go out to meet investors himself. Yesterday he was in Cannes (France), at the annual International Commercial Real Estate Exhibition, which attracts investors from all over the world. As local residents say, there are now more visitors than at the famous Cannes Film Festival.

Throughout the last year, German Gref, on each of his business trips to the regions, told local authorities about the fabulous opportunities opening up at this exhibition. And each time I remembered my personal experience. “When I was the vice-governor of St. Petersburg, I went to this exhibition every year and always brought new contracts,” he said, apparently counting on regional leaders to follow his example.

The calculation was justified. Representatives from more than 40 federal subjects came to Cannes (according to German Gref, the total number of Russian participants in the fair reached 1,360 people).

True, according to the minister, there were only five full-fledged presentations of the region. But very large-scale. The Krasnodar region, for example, presented 112 different projects to the traditional singing of the Kuban choir and pancakes with caviar. At the presentation of Tatarstan (the delegation was headed personally by Mintimer Shaimiev), violins played, and the huge stand of the Moscow region was decorated with two mannequins: a snowboarder and a golfer inviting foreign investors.

Although resorts near Moscow, despite their sonorous names, for example, “Russian Switzerland,” are unlikely to be able to boast of natural beauties similar to the Alpine (as, indeed, many other central Russian regions), it is ski resorts that seem to the regional elites to be the most popular and interesting way to invest. Projects for the construction of large ski resorts are presented at almost every stand, from Kaluga to the traditional Elbrus region. This, by the way, distinguishes the Russian pavilion from the expositions of other countries, where commercial and residential real estate projects predominate.

However, already this year it will become much more profitable to develop tourism in the regions. As the head of the Federal Agency for the Management of Special Economic Zones, Yuri Zhdanov, told reporters, next Friday the State Duma should consider in the first reading amendments to the law on special economic zones, introducing a new type of zones - tourist and recreational ones. According to him, these zones will become the most liberal option for “growth points.” Potential investors will not be limited by the size of the territory or the need to invest a certain amount of funds. Moreover, one zone can be located on the territory of several federal subjects. This norm is clearly fixed taking into account the geographical location of Lake Baikal - one of the favorites in the fight for the title of a special tourist and recreational zone. There will be only three or four zones of this type, so there will be serious competition. Almost all future participants in the competition, according to Mr. Zhdanov, came to Cannes to present their projects.

German Gref took on a difficult task in Cannes: he had to not only support regional projects with his authority, but also once again try to convince foreign investors that it was possible to do business with Russia. Speaking to investors, the minister said that foreign investment in Russia needs to be increased tenfold. “The fact that it is more difficult to do business in Russia than in other countries is a myth,” he emphasized. “Yes,” the minister admitted, “there are three risks - corruption, administrative barriers and an ineffective judicial system, but we are trying to overcome them. But Russia has a very liberal tax system, a huge market and a highly qualified workforce.” Among foreign investors, this position seems to be understood. On the very first day of the exhibition, the administration of St. Petersburg concluded two deals with a total value of almost a billion dollars. The Russian delegation is confident that other contracts will be concluded by the end of the week (before the end of the exhibition).

Vera SITNINA, Cannes