Added Value

30.01.2014

Sergei Naryshkin called for the improvement of the investment climate in the Russian regions.

Two opening ceremonies awaited Sergei Naryshkin, Russian State Duma Speaker, who flew into the Tyumen Region yesterday. Firstly, he participated in the launching of a new unit at the Antipinsky Oil Refinery, and secondly, he spoke at the opening ceremony of the Tyumen Investment Forum.

The two events are certainly interrelated. The Antipinsky Oil Refinery is a unique enterprise not only because no such capacities (over 7.5 million tons of refined oil per annum) have been commissioned in Russia in over 30 years and an oil producing Tyumen region had practically no prior history of oil refining, but for some mini-refineries that produced substandard fuel.

The Antipinsky Oil Refinery is a wholly privately owned project without any state participation enabling, inter alia, a long-standing dream of Russia producing Euro-5 compliant gasoline nurtured by deputies, and not deputies alone, to finally come true. The unit launched yesterday is specifically aimed at achieving such high quality. At the same time, the refining depth will be increased up to 94 percent. “It is a good example of the implementation of high-tech projects that are truly forward-looking,” Sergei Naryshkin appraised the Tyumenites’ work before pressing the symbolic start button. He added that it also serves as an example of “efficient cooperation among investors, regional and municipal authorities, and builders”.

The Tyumen Region Governor Vladimir Yakushev added that the region’s investment portfolio was currently estimated at 1 trillion 300 million rubles. The discussion on the region’s investment appeal continued at the first Tyumen Investment Forum focusing on the interaction between authorities and business entities against the backdrop of 2014 budgetary constraints.

“To begin with, I would like to say that expert-level discussions such as the Tyumen Investment Forum are very important today not only for the development of the regions, but also for the country as a whole,” stated Sergei Naryshkin at the forum’s opening ceremony praising the Tyumen Region for implementing a considerable number of “large-scale and capital-intensive projects”. According to the State Duma Speaker, “the establishment of new modern production facilities enables the improvement of the economic policy effectiveness, investment climate quality and, consequently, business activity”. However, Tyumen was known to many business people as a new promising business address. Some of them even announced their plans to change their Moscow addresses to Tyumen ones. The locals took it with a pinch of salt: a business can probably be relocated to Tyumen definitely offering more comfortable conditions for running it, but would people like to move here from Moscow?

“The current legal toolkit and Russian financial market institutions themselves still lack comfort,” admitted Sergei Naryshkin drawing the attention of the forum participants to the fact that the situation was “complicated by the fact that 2014 would be a difficult year not only for the Russian economy, but for other countries as well.”

Notably, the Speaker emphasized, such trends are observed now “with the situation being fairly good in our most important raw material markets”. However, Sergei Naryshkin expressed confidence that the Tyumen Investment Forum would contribute its “added value” to the understanding of how to build up the regional investment raising policy”.

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