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Investing in Russia’s Future: How Can National Projects Become Attractive to Investors?

7 June 2019
Инвестиции в будущее России: как сделать национальные проекты привлекательными для инвесторов


Foreign business is ready to invest in national projects

“Foreign investors willingly invest in our infrastructure because they see the opportunities it offers and the potential for profit,” Sergei Ivanov, Special Presidential Representative for Environmental Protection, Ecology and Transport. 

“They [the member companies of the American Chamber of Commerce in Russia, – Ed.] will get involved and will invest. If there is a big project and you need to supply goods and comply with a certain level of localisation, this level of localisation will be implemented,” Alexis Rodzianko, President, American Chamber of Commerce in Russia. 

 “We are guided by the ideology of entrepreneurship – if there is a culture of entrepreneurship and freedom for entrepreneurs we will go there,” Nicolas Dufourcq, Chief Executive Officer, Bpifrance. 

“We realised that we can attract a large number of foreign investors to the healthcare sector, and we believe that we can help transform the entire industry,” Erman Ilıcak, President, Ronesans Holding.


Lack of trust between government and business

“The entrepreneurial climate, the confidence of entrepreneurs in the future, and power politics, which have become more acute of late, are significant issues that we have to deal with,” Kirill Dmitriev, Chief Executive Officer, Russian Direct Investment Fund (RDIF).

 “If there is an absence of trust between a fund and companies that invest, no projects get implemented,” Vladimir Evtushenkov, Chairman of the Board, JSFC Sistema. 

“Today there are not enough companies or entrepreneurs involved in national projects. We need to create new markets and re-establish trust between the state and entrepreneurs,” Andrey Kuzyaev, President, Chairman of the Management Board, Member of the Board of Directors, ER-Telecom Holding.

“78 percent of civil servants and 22 percent of businesses have faith [in national projects, – Ed.]. These statistics come amid news that foreign investors are ready and willing to invest in national projects and the Russian economy as a whole,” Evelina Zakamskaya, Anchor, Russia 24; Editor-in-Chief, Doctor Channel.


State support for investors 

“How to make national projects effective – the state should offer just enough support to keep our investments to a minimum, but at the same time investors should receive a minimum rate of return. Then everything will be managed better and done as it should be,” Kirill Dmitriev, Chief Executive Officer, Russian Direct Investment Fund (RDIF).

“There should be five or six funds [like RDIF, – Ed.]. Firstly, this would mean that we could choose between funds, and secondly, it would be better for the economy,” Vladimir Evtushenkov, Chairman of the Board, JSFC Sistema.

“After the success of RDIF, the Russian Federation should allocate resources so that we can look into what is required in the future – just RDIF or many such funds,” Dominique Strauss-Kahn, Managing Director, Parnasse SARL.

“You cannot separate the private and public realms – the goal should be to form public-private partnerships,” Mark Kurtser, General Director, Mother and Child Group of Companies. 

“The state plays a vital role in regulating the pharmaceutical industry: if back in 2010 the state hadn’t began to amend legislation on the distribution of medicines, then chances are nobody would have invested in the industry. And the boom in the development of technologies in Russia related to the production of high-tech products would not have happened,” Petr Rodionov, General Director, Geropharm LLC. 

Project development in detail

“Implementing national projects can be difficult. These include many individual initiatives and projects that must go through a specific filter. <...> As possible investors in national projects, we would like to avoid having to take decisions immediately at the conception state. All projects should go through certain stages, and they need to be carefully analysed and developed,” Dmitry Konov, Chairman of the Management Board, SIBUR Holding.

“There are three factors of particular importance for national projects. The first factor is the provision of a turnkey project that is ready for investment. <...> The second is a team capable of implementing the project, and the third is large-scale and long-term investments from investors with a clear understanding and vision of the opportunities offered by the project,” Karima Nigmatulina, General Director, Vi Holding; PhD, Professor of the Russian Academy of Sciences.

Increasing the level of trust

“The most important thing is entrepreneurial activity and trust between the state and business. Trust is indeed a key factor that needs to be worked on as we move forward,” Kirill Dmitriev, Chief Executive Officer, Russian Direct Investment Fund (RDIF).

“The way I see it RDIF is the most successful national project; a project that garners a high level of trust, and in the investment world trust is key,” Andrey Guryev, Chief Executive Officer, Chairman of the Management Board, PhosAgro.

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