5 March 2020

Experts discuss investment strategy of Yenisey Siberia regions

In Krasnoyarsk, experts discussed the investment strategy project of Yenisey Siberia regions. This strategy will be presented at the upcoming 17th Krasnoyarsk Economic Forum.

The discussion was held among representatives of the scientific and business community, as well as government authorities of Krasnoyarsk Region, the Republic of Khakassia and the Republic of Tyva. The working draft of the strategy was presented to the expert community by Strategy Partners, a consulting company of Sberbank, which is among the top 3 strategic consultants on the Russian market.

The document provides an assessment of current investment activity in the territory of three regions involved in the implementation of the Yenisey Siberia Comprehensive Investment Project. The comprehensive analysis helped to identify priority areas for further investment development of the regions, and to form a list of promising areas for implementation of new projects, which, apart from having economically attractive prospects, also significantly improve life quality.

Yenisey Siberia regions have a number of advantages and opportunities, which form conditions for effective investment development. First of all, they have a plethora of natural resources, high volume of investments in basic industries, R&D and innovation potential and a significant volume of the domestic market. The combined GRP of Krasnoyarsk Region, Tyva and Khakassia represents 2.5% of the Russian Federation’s GDP, with manufacturing and mineral extraction accounting for about 35% of this combined GRP figure.

The strategy developers propose to build up competencies not only in the mining and energy industries, but in other areas, with a gradual transition to a more diversified economy. The main factors of such development should be expansion of the product processing industry, development of transport and logistics, chemical industry, machinery manufacturing, agribusinesses and innovation sectors, as well as development of pilot production. The participants of the expert session were presented with a preliminary investment portfolio of Yenisey Siberia and product sheets of the chosen areas of development.

During the discussion, experts noted the need for better calculation of not only economical, but also possible social impact from implementation of large-scale investment projects in the regions. They also recommended that this should be taken into account by the developers in their future work regarding the strategy draft.

“It is important to show the priority of regional interests in a strategy document. Development of the natural potential is a standard theme, which today is expressed in large investment projects implemented by our leading companies within Yenisey Siberia CIP. However, it is important to look not only at the potential of large-scale projects, but also at the specific indicators of social development during the formation of the regions’ development strategy,” noted Mikhail Vasilyev, Head of Development Programmes Coordination Department, Siberian Federal University.     

“It is difficult to predict high profitability in the field of education and healthcare. However, in terms of the impact on the region attractiveness for people, these investments can have a much more serious effect,” said Eugenia Bukharova, Director of SibFU School of Economics, Management and Environmental Studies.

Director General of the Yenisey Siberia Development Corporation Sergei Ladyzhenko noted that the document will be further elaborated. “The result of in-depth analysis will be a set of specific investment proposals in the industries and sectors with the most effective economic and social return on investment. The ready-made investment proposals will allow us to attract interested businesses and development institutions from Russia and foreign countries,” said Sergei Ladyzhenko.

The 17th Krasnoyarsk Economic Forum titled Development Projects – Energy of Growth will be held from 19 to 21 March.

For KEF-2020 business program schedule please visit https://krasnoforum.ru/