INCONA took part in the investment forum in Rostov-on-Don


INCONA took part in the investment forum, which was held from September 13 to 15 in Rostov-on-Don. Domestic and foreign investors, entrepreneurs, officials and experts gathered at the venue of this event. The forum was attended by the Governor of the Rostov region Vasily Golubev.

INCONA was represented by General Director Alexey Busev. On the first day of the forum, he made a report on the investments of the Arab states of the Gulf in Russia. A.Busev spoke about the current investment projects of business in the UAE and Saudi Arabia in Russia and about those areas that could potentially be in demand.

Special attention was paid to agriculture and the agro-industrial complex. According to A.Busev, due to natural and climatic conditions, the United Arab Emirates, Saudi Arabia and other countries of the Gulf are experiencing a shortage of food. To ensure their own food security, they actively invest in agricultural enterprises around the world. According to A.Busev, the Rostov region could attract Arab investors with projects in the field of agriculture.

On the second day of the forum, A.Busev held a master class for Russian entrepreneurs wishing to register a company in the UAE. A. Busev spoke about the standards and requirements faced by domestic companies planning to do business in the UAE or in other foreign markets. These are the lack of transparency in the reporting of Russian companies, the lack of openness of information for the customer, the refusal to provide financial information, audits, the history of work performed, the language barrier. Another problem of Russian companies, according to A.Busev, is the lack of international certificates and licenses.

Many entrepreneurs attending the master class were surprised to learn that Russian certificates, even those based on international standards, do not allow them to work in foreign markets (with the exception of the CIS countries). To work in foreign countries, certificates issued by international certifying bodies are required.