On January 22, the World Economic Forum (WEF) in Davos discussed growth recipes for Russian regions. A group of WEF experts led by former Minister of Finance Alexei Kudrin and Yale University professor Oleg Tsyvinsky prepared a review entitled “Russian Regions: Growth Drivers”.
Investors need to look not at Russia as a whole, but at specific regions, emphasizes one of the authors. Eleven regions have economic and investment attractiveness parameters that are higher than the national average, he notes. The tried “best practices” should be used to improve the business climate throughout the country, WEF experts recommend.
WEF selected three exemplary regions: Ulyanovsk Region, Tatarstan and Kaluga Region.
We built our work in a way that would accommodate the needs of investors, commented Kaluga Region’s Governor Anatoly Artamonov (ITAR-TASS). In order to attract investments, the region established contacts with all development institutions, and the newly created development corporation took charge of all bureaucratic procedures for new industrial parks, he explained.