Moscow-Invest 2004

The VII International Forum "Moscow-Invest 2004" has successfully completed its work in the United Arab Emirates. The organizer of the forum from the Russian side was the Moscow International Business Association (MIBA), whose president is Yuri Mikhailovich Luzhkov. The Russian delegation included more than one hundred businessmen and about 30 officials - heads of several federal departments, members of the Moscow government, representatives of Russian banks, insurance companies, industrial, construction, and trade enterprises.
As a result of previous forums, MIBA member companies attracted more than $ 5 billion of US investments to Russia, in particular to Moscow.
In his welcoming speech at the opening of the forum in Abu Dhabi, the mayor of the Russian capital, Yu. M. Luzhkov, identified the main priorities and prospects for Russian-Emirate economic cooperation.
In it, in particular, it was noted that Moscow is the most developed consumer market in Russia, where products, goods and services for $ 30 billion are sold annually and almost 80% of the total banking capital of Russia is concentrated. However, the trade turnover between Moscow and the UAE in 2003 amounted to only about $ 90 million. USA. This suggests that currently opportunities for cooperation in the trade and economic sphere are still not being effectively used. According to the mayor of the Russian capital, the UAE market may be of great interest to a number of goods and services from Moscow, in particular high-tech products, such as integrated water desalination plants, new generation refrigeration units, medical equipment, construction and educational services and much more. "The choice of Abu Dhabi as the capital of the Emirates for the forum is not accidental. We want to take serious steps here. The UAE has not only a strong investment potential, but also one of the most influential organizations in the world - the Islamic Conference, in which Russia received observer status shortly before the forum, "the mayor of Moscow emphasized.
More than 200 heads of companies in Russia and the UAE participated in open dialogs with representatives of all levels of government of both countries, exchanged views on pressing financial and economic issues. Particular attention at the forum was paid to the presentation of new investment projects by foreign and Russian participants in this event.
In an interview given to our correspondent by the chairman of the Investment Program Commission under the Mayor and the Government of Moscow, Olga Mikheeva, large-scale international projects were highlighted: New Ring of Moscow, Fourth Transport Ring of Moscow, Hotel Development Scheme, Moscow-City , "Draft reserve development program" and many others. “The Moscow real estate market is one of the most attractive in the world,” said O.V. Mikheeva. “The profitability of most projects reaches 200% of the volume of investments, this clearly shows that not all opportunities are now being used to expand contacts in the trade and economic sphere The government of the capital pays great attention to the study of foreign markets to provide full assistance to foreign economic activity, to ensure industrial cooperation with foreign partners, information on supported by the Russian businessmen in terms of expansion of economic relations. "
Grigory Fedorovich Fomin, Managing Director of the Russian Trade Center in the United Arab Emirates, acting representative of the Chamber of Commerce and Industry of the Russian Federation in the United Arab Emirates and co-organizing the Moscow-Invest 2004 forum from the Arab side, gave a brief assessment of the state of trade relations in his speech at the CCI Abu Dhabi between the UAE and Russia.
In particular, he noted that over the past year there has been a tendency towards qualitative changes in the interaction between Russia and the United Arab Emirates. Analyzing the activities of the Arabian Russian group of companies working to promote Russian goods and services on the UAE market, Mr. G. Fomin told the forum delegates that projects related to direct investment and the creation of joint Arab Russian enterprises, as well as the organization of assembly plants in the Free Economic Zones (SEZ).
On one of the days of his visit to the UAE, a group of Moscow entrepreneurs participating in the investment forum visited Jebel Ali, the largest free economic zone in the Persian Gulf region. Russian businessmen met with the leaders of the Free Zone, got acquainted with its work and facilities. In his speech, Ibrahim Al Janahi, Jebel Ali SEZ Europe Manager, urged members of the delegation to pay attention to the positive experience of Arabian Russian Trading Relations and to more actively use the unique opportunities of the Free Economic Zone in business with the countries of the region.
The Moscow-Invest 2004 forum was held to expand and strengthen the international relations of Russian companies in the investment sphere in the Middle East. The practical results of the forum were not long in coming; the activity of entrepreneurs from Russia manifested itself literally in the early days of the forum: some of its participants expressed their willingness to invest in real estate in the UAE.
The Arab partners so far take a wait-and-see attitude, which dictates the need to continue communication, conduct regular negotiations and develop existing contacts.

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