USD35 Billion Investment Contracts Signed At St.Petersburg International Economic Forum

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spief17The growing sense of opportunities for investing in Russia, despite Western sanctions upon it increased this week with USD32 billion worth of contracts signed at the St.Petersburg International Economic Forum (SPIEF). The Forum is an annual business event for the Russian economic sector, and has been held in St.Petersburg since 1997. The Forum brings together the chief executives of major Russian and international companies, heads of state, political leaders, prime ministers, deputy prime ministers, departmental ministers, and governors, and is supported by the Russian President.

The Roscongress Foundation, who organized the event, stated that this year, 475 investment agreements, memorandums and letters of intent have been signed, with their total worth amounting to 2 trillion rubles (USD35 billion) excluding contracts covered by confidentiality agreements. Some 14,000 delegates participated.

The largest deals included an agreement between German chemical company Linde Group and Russia’s TAIF on the building of a new ethylene production site in Russia (USD10.5 billion) and an agreement between Russia’s Rosatom and Nuclear Power Corporation of India Ltd on the building of power units for the Kudankulam Nuclear Power Plant in India (USD4.2 billion).

“The SPIEF is an important Eurasian investment event”  says Chris Devonshire-Ellis of Dezan Shira & Associates “and is now attracting far more interest from Asian investors. This is the primary place for showcasing the opportunities in Russia and a great example of the Russian-Asian Trade Corridor at work. We can expect to see far more Asian investments signed at SPIEF in future years.”

 

Russia Briefing is published by Asia Briefing, a subsidiary of Dezan Shira & Associates. We produce material for foreign investors throughout Eurasia, including ASEAN, China, India, Indonesia, the Silk Road & Vietnam. For editorial matters please contact us here and for a complimentary subscription to our products, please click here.

Dezan Shira & Associates provide business intelligence, due diligence, legal, tax and advisory services throughout the Eurasian region. We maintain offices in Moscow and St.Petersburg through our Russian partner firm, as well as our own offices in China, South-East Asia and India. For assistance with Russian issues or investments into Russia and Asia, please contact us at russia@dezshira.com or visit us at www.dezshira.com

 

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