INCONA took part in the conference «Russia-UAE: Investment Cooperation»

On November 18, the Chamber of Commerce and Industry of the Russian Federation hosted the conference «Russia-UAE: Investment Cooperation». The conference was attended by businessmen, officials, and representatives of Russian regions. A wide range of issues related to the process of attracting investments in the Russian Federation was raised.

The conference was co-organized by INCONA. Alexey Busev, General Director of INCONA, made a presentation. He noted the interest of the Arab side in investing in Russia. Alexey Busev said that a portal has been developed and is already functioning in a test mode for the development of bilateral investments GULFINVEST.RU. The portal provides general background information on the economy of the Gulf countries, as well as tenders and investment projects that could potentially be of interest to Russian and Arab business circles. Busev also presented a business guide to the UAE for Russian entrepreneurs, developed jointly by INCONA and the CCI of the Russian Federation.

Vladimir Padalko, Director of the Department of External Relations and Work with Business Councils, noted the importance of developing bilateral cooperation between the UAE and Russia on the investment front. He noted that in order to stimulate bilateral investment development programs, programs have been developed to create joint Russian-Emirati development funds.

The representative of the Department of Asia and Africa of the Ministry of Economic Development of Russia Nikolay Aslanov outlined the problem of insufficient volume of mutual investments. N. Aslanov noted that the key problem is the lack of awareness of both Russian business and Emirati business partners about the investment opportunities of 2 countries.

Mikhail Khazin, President of NEOCON, noted that in recent years there has been quite a stable and understandable investment model, which was built on accelerated capitalization of assets, i.e. accelerated increase in the money supply and a constant decrease in the value of money. Mikhail noted that in recent years this model has exhausted itself. The model of making a profit in the world in the next five to ten years will fundamentally change.