Business & Money | Thursday 23 March, 2017 2:20 am |

Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data. The country is becoming a safe haven for investors amid economic and political uncertainty in Europe. It’s relatively low sovereign debt to GDP ratio and large gold and foreign currency reserves, have enabled the country to retain the interest of foreign investors. In addition, the Russian authorities are doing everything possible to create the most comfortable conditions for foreign investors and as such will participate at the Annual Investment Meeting (AIM) which will be held in Dubai from 2nd - 4th April 2017 at the Dubai International Convention and Exhibition Centre.

“It is a pleasure to host the Russian capital city of Moscow at the Annual Investment Meeting (AIM). The city has a big gift of natural resources, huge potential market and a well-educated workforce. In addition, the city’s continuous economic and political stability is certainly an encouraging factor for foreign direct investment (FDI) in Russia,” said Dawood Al Shezawi, CEO, AIM’s Organising Committee.

The Russian economy has grown leaps and bounds in the past few years and the government has taken concrete steps and charted policies that make the business environment in the country more favourable to foreign investment. New regimes and policies have been introduced that has improved global competitiveness and encouraged foreign investors to play an important role in Russia’s prosperity.

A report on tass.com stated that Russia has upgraded the country’s GDP growth outlook for this year from 0.6 per cent to 1.5 to 2 per cent. Furthermore, big retailers like Sweden’s Ikea Group and France’s Leroy Merlin SA have begun pumping billions of dollars in new stores and factories.  Ikea is putting $1.6 billion into new stores over the next five years while Leroy Merlin in September 2016 announced a 2-billion-euro plan to more than double the number of outlets in Russia over the same period.

“Following the impressive growth of foreign direct investment (FDI) inflows in the country last year, Russia is witnessing a stupendous growth. This is the moment of investment. We are confident that the investment projects and business activities will continue to pour in given the country’s sound macroeconomic fundamentals and the solid optimism and confidence of international investors,” added Dawood Al Shezawi.

Russia’s demographic dividend, high-skilled, fast-leaner workforce and the strategic location of the country serves as a gateway for varied foreign direct investments (FDI). At the Annual Investment Meeting (AIM), the Department of External Economic and International Relations of the Government of Moscow will provide the audience a chance to explore investment opportunities and ways of doing business in the Russian capital city of Moscow.

In addition, HE Minister of the Government of Moscow Sergei CHEREMIN will present the audience with key insights on Moscow as a business hub. Leonid KOSTROMA, CEO of Moscow City Investment Agency will present opportunities for investors in the city while Maxim OSINTSEV, Executive Director, Head of Middle East, North Africa and China financial institutions at Sberbank CIB will present an overview on Russia’s macroeconomic outlook.

Held under the theme ‘International Investment, Path to Competitiveness & Development’, this year’s edition of AIM will discuss economic development opportunities and counter challenges. The international forum will be host to 140 countries and 150,000 attendees. In addition, AIM will host 100 high-level officials, 500 exhibitors and more than 100 media partners.