The Association of Regional Investment Agencies established by the Russian Investment Agency “Invest in Russia” as a specialized platform of interaction and exchange of experiences among investment agencies and development corporations of regions of the Russian Federation with a view to their maximum integration in the international investment community. The Association aims to attract foreign direct investment in the Russian regions through the promotion of regional investment projects in a partnership with the World Association of Investment Promotion Agencies (WAIPA).
The partnership with the WAIPA opens to all members of the Association the access to information resources and best practices of more than 244 successful investment promotion agencies from 164 countries of the world. Over 2013 the members the WAIPA have attracted more than 1.4 trillion USD of foreign direct investment, of which over 60% were attracted by developing countries. Russia has significant potential in this regard.
The objectives of the Association are as follows:
– Cooperation with Russian regional investment agencies on collecting information about the organizations or individual entrepreneurs who implement or plan to implement investment projects;
– Preparation and publication of analytical materials about the investment climate in Russia, including those in particular regions;
– Development and publication of key messages and evaluations in the Russian and international media;
– Assistance to the members of the Association in providing services on developing relations with Russian and foreign investment agencies and investors;
– Assistance to the members of the Association in providing investors with information and organizational support;
– Assistance to the members of the Association in the preparation and management of investment projects implemented on the principle of a public-private partnership (PPP);
– Assistance to the members of the Association in providing services in the implementation of investment projects;
– Assistance to the members of the Association in bringing various financial institutions in order to provide credit to investment projects implemented by means of PPP, including those in the sectors of housing, utilities, engineering and social infrastructure;
– Assistance to the members of the Association in the development of recommendations and suggestions in order to improve the legislation of the Russian Federation in the field of implementation of investment projects based on the principles of PPP;
– Assisting in the organization of events with foreign investors (round tables, conferences, workshops);
– Assistance to the members of the Association in the study of market conditions and public opinion polling.
Today the investment promotion agencies from more than half of Russian regions have already joined or are in the process of joining the Association. It is assumed that all members of the Association will be actively involved in the establishment of the key areas of its activities, jointly develop a strategy of the Association that focuses primarily on the interests of the regions and promotion of regional projects.
For all its members it is planned to conduct regular trainings on international best practices in attracting investment. The trainings will be conducted by qualified foreign specialists in the field of promotion of investment projects, improving the investment climate, the preparation of project presentations. Such trainings have proven to be effective in mastering the skills of employees of investment agencies worldwide.
In July 2014 for the first time in Russia a two-day training will be held together with the WAIPA for the members of the Association. As coaches for the training the heads of investment promotion agencies from Italy, France, Germany and Singapore have been invited. They will give master classes in Investor Relations, they will share their experience in the organization of the process of attracting investment and talk about the most prioritized investment areas in Russia and in the world. The main focus of the training will be given to the establishment of the regions’ proactive process of attracting investment. A separate session will be devoted to the criteria and best practices in preparation of investment projects. Discussion of other issues during the training will be possible in the framework of bilateral negotiations. For all members of the Association such events will be held at least once in a quarter.
The Association’s work is not limited to the conducting of training sessions. At the moment, in order to promote projects and establish business relationships the Agency has held bilateral meetings with companies and investors from France, Germany, Switzerland, the Great Britain, China, Kuwait, UAE, Bahrain, Singapore, Turkey, Japan and other countries, which resulted in signing a number of cooperation agreements. Also agreements on cooperation have been reached with the investment agencies from Singapore, Turkey, Italy, Germany, Switzerland, Mexico, Brazil and a working dialogue has been arranged with dozens of other foreign agencies. All these dialogues and contacts will be broadcast to the regions through the Association, which is becoming an important tool to attract investors to the subjects of the Russian Federation.
The management of the Association:
• the President – Lenar Yakupov, the Head of Investment Promotion Agency of the Republic of Tatarstan,
• the Head of WAIPA, Carlos Bronzatto, is the member of the Supervisory Board of the Association.
The admission to the membership of the Association is carried out by the decision of the Supervisory Board upon application and payment of dues.