The conference Experience and prospects for attraction and expansion of foreign investments as a factor of the economic development of the region was held in Krasnodar

The Conference was attended by the Vice-Governor, the Minister of Finance of the Krasnodar Region Ivan Peronko, the Minister of Economy of the Krasnodar Region Igor Galas, the Head of Krasnodar Vladimir Yevlanov, the Head of the EU Delegation to Russia, Ambassador Vygaudas Ušackas, the Chairman of the Association of European Businesses (AEB) Philippe Pegorier, the General Director of the Association of European Businesses Frank, as well as representatives of Russian and foreign businesses operating in the Krasnodar region.

The participants of the Conference discussed the prospects for Russian-EU business cooperation and interaction between business and government at the federal and regional levels, the development of initiatives to support entrepreneurial activity and improvement of the investment climate.

More than half of the total foreign trade turnover of the SFD accounts for the share of the Krasnodar region today that amounted to 15 billion USD in 2014. During the year it has increased by 13 percent in value terms and by a quarter on physical volumes.

An investment peak was reached in 2013. More than 1.9 billion USD of foreign investment were sent to the final stage of preparation for the Winter Olympic Games in the Krasnodar region. The volume of such investments in the region exceeded 888 million USD in 2014. And today, in the post-Olympic period, in a difficult economic and geopolitical situation, Kuban remains attractive to foreign investors. More than 300 million USD were invested in the economy of the region only in the first quarter 2015.

Companies created in Kuban with the involvement of foreign capital continue developing. The second stage of agricultural machinery company CLAAS will launch in Krasnodar on October 1, 2015, as we reported earlier. The Philip Morris Kuban Company continues to steadily grow and invest significant means in the modernization of its production in Krasnodar as well. Only in 2015, more than 15 million USD were invested, and the same amount will be invested by 2017. Bonduelle-Kuban increases its production capacity in the Timashevsk district as well by extending its production building, upgrading its equipment and constructing a new warehouse of finished products. Over 90 new jobs will be created as a result of this project with an investment volume of 620 million rubles. Other investment projects involving foreign investments are being implemented as well.

Source - Investment portal of Krasnodar region