News

7.11.10

General Director of the National Investment Agency Oleg Gorbulin paid a working visit to the Republic of Pakistan.
On November 5-6, according to the invitation of Chairman of the Board of Investment, Oleg Gorbulin visited Islamabad and Karachi. During his working trip to Pakistan was signed a Memorandum of Understanding for boosting two-way investment and enhancing commercial and economic cooperation between two countries. From Pakistan side the MoU was signed by Board of Investment Chairman and Minister of State Mr.Saleem H. Mandviwalla.
Were held meetings in the: Board of Investment, Islamabad Chamber of Commerce and Industry, Federation of Pakistan Chambers of Commerce and Industry, Sindh Board of Investment and meetings with Pakistan businessmen.

18.10.10

Oleg Gorbulin met with H.E. Ambassador of the Republic of Pakistan to the Russian Federation Mr. Mohammad Khalid Khattak.
H.E. Ambassador of the Republic of Pakistan to the Russian Federation Mr. Mohammad Khalid Khattak on October 18, 2010, met with CEO of National Investment Agency Mr. Oleg Gorbulin. Were discussed the prospects for cooperation between the Embassy and the NIA. Mr.Ambassador invited Mr Gorbulin to visit Pakistan in the near future.

30.09.10

Minister of State, Chairman of the Board of Investment of Pakistan, Mr. Saleem H. Mandviwalla met with the leadership of the National Investment Agency.
During his working trip to Russia, Chairman of the Board of Investment of Pakistan Mr. Saleem H. Mandviwalla on Sep 30, at the Embassy Residence, held a meeting with leadership of the National Investment Agency to discuss the matters of mutual interests and immediate concerns and issues between the two countries. The purpose of the meeting was to start Pak-Russia investment projects without tardy.

4.08.10

The owner of a large Indonesian company Mr. Septo Adjie Sudiro visited the National Investment Agency during of his business trip to Russia.
Mr. Septo was accompanied by external affairs adviser Ms. Granitawati Santi and general manager of agribusiness Mr. Idham Setia Ramadhiah which made for Russian businessmen the presentation of the company’s projects (organic rice and coffee).
Mr. Septo held a number of business negotiations with Russian businessmen, interested on in development projects and agriculture. During the meeting they discussed and identified mutually beneficial terms of cooperation.
Information: The Indonesian company supplies organic rice, coffee, tea, vegetable oil, spices, dried fruit and palm oil. The company owns a number of automobile gas stations in Indonesia. In addition, nowadays the company is refurbishing cars to run on gas fuel.

27.07.10

CEO of the National Investment Agency Mr. Oleg Gorbulin met with H.E. Ambassador of the Republic of Pakistan to the Russian Federation Mr. Mohammad Khalid Khattak.
By personal invitation of H.E. Ambassador of the Republic of Pakistan to the Russian Federation, Mr. Oleg Gorbulin visited the Pakistan Embassy and met with the head of diplomatic mission. The meeting was held in a warm and friendly atmosphere. Were discussed possible cooperation between the Embassy and the NIA.

2.07.10

Outcome of the Meeting “On the Socioeconomic Development of the Russian Far East and the Strengthening of Russia`s Position in the Asia-Pacific”.
In July 2d, 2010, the city of Khabarovsk became the venue for a meeting chaired by President of the Russian Federation Dmitry Medvedev on the theme of “The socioeconomic development of the Russian Far East and the strengthening of Russia`s position in the Asian-Pacific region.”
The meeting in Khabarovsk was a major political event. A detailed discussion took place on how to use the powerful, in many ways unique, potential of the Asian-Pacific region to lift the eastern areas of Russia. In conjunction with this question, ways to connect our country, especially its Far East and Siberia, to the integration processes unfolding in the Asian-Pacific region were discussed, along with the forms and methods of strengthening Russia`s position there by developing bilateral relations with our partners and by participating in multilateral regional associations.
In his opening speech, the President of Russia accentuated the attention of those present to three tasks: bring to a new level the economic interaction of our Far East and Russia as a whole with the Asian-Pacific countries, with special emphasis on free trade agreements; ensure the specialization of Russia in the Asia-Pacific market in the field of high technology; and seek to strengthen the role of our country in regional associations, notably in APEC, the SCO (Shanghai Cooperation Organization), ASEAN and BRIC. Separately, the President dwelt on security issues in the Asian-Pacific region. Russia is ready to offer its vision of how to build a regional polycentric, non-aligned architecture of security and cooperation.
Foreign Minister Sergey Lavrov delivered the main report at the meeting. He stressed that the meeting was finally embedding at the level of practical politics, an awareness of the objective fact that we are an integral part of the Asian-Pacific region and that our eastern areas are written into this vast space. The Minister reviewed the advantages our country has in the Asian-Pacific region, and presented a list of practical measures to strengthen Russia`s position there.
During the meeting, Dmitry Medvedev placed before the Government, federal executive bodies and regional authorities of the country, a number of tasks covering an extensive range of issues in foreign policy, security, economy, trade, energy, transport, migration, as well as the preparation for the forthcoming Russian chairmanship of APEC in 2012. The President gave an instruction to prepare a comprehensive Program of Action to strengthen Russia`s position in the Asian-Pacific region.
The Khabarovsk meeting commenced a new phase of big work in the eastern sector. The coordinated, focused and systematic implementation of the tasks set at the meeting is aimed at the realization of our national interests in the Asia-Pacific region in line with Russia’s Foreign Policy Concept. At the same time, these efforts will contribute to stronger regional peace and stability and sustainable economic development.
Full version of speech you may find here http://eng.kremlin.ru/transcripts/547/

5.06.10

The National Investment Agency took part in the annual Asia Pacific Summer Charity Bazaar 2010 organized by the Asia Pacific Women’s Group in Moscow (APWG).
On June 5, 2010, at the Radisson Slavyanskaya Hotel, the Asia Pacific Women’s Group in Moscow held the annual Asia Pacific Summer Charity Bazaar 2010. Most of the 21 embassies were participating in the Bazaar.
Products from over 20 Asian countries such as Indonesia, India, China, Malaysia, Pakistan, Singapore, Vietnam, Laos, Nepal, etc., were presented on the tables of diplomatic missions.
Guests had the opportunity to purchase a variety of ethnic products (hand-made souvenirs, textiles, carpets, garments, jewelry), enjoy the melodious strains of folk songs and smooth dance movements, assess dishes of national cuisines, and take a course of professional Thai massage.
All proceeds of the Bazaar will be donates to the adopted Orphanages and approved charity projects. Some of the orphanages are coming from the GlavUPDK recommendation, and the rest is from the Group recommendation.

6.04.2010

At the Diplomatic Academy of the Ministry of Foreign Affairs held a roundtable on the 60-th anniversary of establishing diplomatic relations between Russia and Indonesia.

General Director Oleg Gorbulin participated in the roundtable: "60 years of diplomatic relations between Russia and Indonesia: Achievements, Prospects and Challenges".

Russian Foreign Minister Sergey Lavrov has sent to the participants the message in which he congratulated them with a significant date, noted the dynamic development of relations between our countries based on strong bonds of friendship and mutual understanding.

With words of welcome and assessment of the bilateral Russian-Indonesian relations were made by: (from Russian side) Deputy Foreign Minister Alexander Borodavkin, Rector of the Diplomatic academy Alexander Panov, Prof.A.Drugov, V.Semenov etc; (from Indonesian side) At the Diplomatic Academy of the Ministry of Foreign Affairs held a roundtable on the 60-th anniversary of establishing diplomatic relations between Russia and Indonesia Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to Russia Hamid Awaludin, the Indonesian Foreign Ministry Director General Andry Hadi, Co-chairman of Indonesian-Russian Business Council Luhut Pandzhaitan, Secretary General of the Ministry of Education of Indonesia Prof.Nizam, deputy CEO of the “Comexindo International” company T.Djiwandono etc.

The round table was held in a businesslike and friendly atmosphere. During the conference in the Diplomatic Academy have been deployed documentary and photographic exhibition reflecting various stages of development of relations between Russia and Indonesia.

*******

Russian Minister of Foreign Affairs Sergey Lavrov Message of Greetings to Participants in Roundtable on 60 Years of Diplomatic Relations between Russia and Indonesia: the Achievements, Prospects and Challenges

I cordially greet the participants of the roundtable dedicated to the sixtieth anniversary of the establishment of diplomatic relations between the Russian Federation and the Republic of Indonesia; I congratulate you on this auspicious occasion.

Russia and Indonesia traditionally have strong ties of friendship and mutual understanding. Our relations are evolving dynamically; top and high level contacts are regularly maintained. In 2008, the volume of trade for the first time exceeded the target set by leaders of the two countries of 1 billion US dollars. This work continues, despite the corrections brought by the global financial and economic crisis. Ties are being expanded in such areas as energy, telecommunications, education and space exploration. In 2009 Russian Cultural Days were successfully held in Indonesia, and Indonesian Cultural Days are scheduled for this year in Russia.

Your forum provides a good opportunity to examine the state of bilateral cooperation, to exchange views on promising directions for application of effort and to develop proposals for augmenting many-sided Russian-Indonesian ties and enriching them with new projects. I am confident that the authoritative composition of roundtable participants, including representatives of bodies of federal power, the business community and academic and public circles will contribute to that.

I wish you a successful and fruitful work and all the best.

S. LAVROV
Moscow, April 6, 2010

3.04.2010

CEO of the National Investment Agency Mr. Oleg Gorbulin has made working visit on Batam and Bintan islands (Riau province, Republic of Indonesia).

The aim of the visit is a strengthening of cooperation with Administrations of Special Economic Zones of the Riau province.

During the trip and negotiations with Mayor of Bintan Mr.Ansar Ahmad, Head of the administration of a Special Economic Zone of Bintan Mrs. Hj.Mardhiah, Head of the administration of a Special Economic Zone of Batam Mr. I Wayan Subawa, had been reached arrangements on creation of the most favored conditions for Russian companies and businessmen.

By the invitation of Mayor of Bintan island Russian guests have taken part in the Harvest festival. So, the first sheaves of rice have been cut off and threshed with participation of Russian businessmen.

4.02.2010

Our strategic partner - the Russian Academy of Business - held the reception on the occasion of the opening of its Representative office in Indonesia.

The event was spent at the Ritz-Carlton Kuningan hotel in Jakarta. President of the Russian Academy of Business Mrs. Irina Gorbulina welcomed the guests. H.E. Ambassador of the Russian Federation in Indonesia Mr. Alexander Ivanov in his speech has highly appreciated Academy’s potential and has noted a significant role of public organizations in the establishment and adjustment of mutually advantageous economic relations between Russia and Indonesia.

Russian Trade representative in Indonesia Mr. Victor Konnov has paid attention on perspective areas of interaction between two countries and has presented the Head of the Indonesian representation office, Vice-president of the Academy and CEO of the “FBK” consulting company Mrs. Elena Proskurnya, who has hotly thanked guests and has invited all for fruitful cooperation.

At the end the guests were entertained by dishes of Russian cuisine and the magnificent singing of the soloist of the Moscow theatre "New opera", the winner of the international and All-Russia competitions Mr. Roman Demidov, who has specially arrived from Moscow.

3.09.2009

India`s exports drop 28.4 per cent in July on-year.
India's exports dropped 28.4 per cent in July for the tenth straight month, even as the Planning Commission on Tuesday foresaw a recovery next year when demand returns in rich nations.
The only solace in July was that imports too fell 37.1 per cent, narrowing the trade deficit to US$5.99 billion or nearly half from US$12.15 billion a year ago. Merchandise exports amounted to US$13.62 billion as demand continued to remain depressed.
To prop up the sector, the government in its new Foreign Trade Policy has announced incentives for trade with new markets in Latin America and Africa, which by and large remained insulated from the global crisis.

2.09.2009

Foreign tourists to RI increasing after Jakarta bombings.
The Central Board of Statistics of Indonesia (BPS) said the number of foreign tourist arrivals in July 2009 reached 593.4 thousand people, an increase of 4.59 percent as compared with that in July 2008 which stood only at 567.4 thousand.
"The July 2009 figure is also higher than that a month earlier," BPS chief Rusman Heriawan said here on Tuesday.
The BPS recorded that the number of foreign tourist arrivals in the January-July 2009 period stood at 3.56 million.
Heriawan said that the increase in the number of foreign tourists negated doubts that the number of foreign tourists would drop after the July 17 twin bombings of JW Marriott and Ritz-Carlton hotels in Jakarta.
"We hope that the number of foreign tourists who will arrive in the country the following months would further increase," the BPS chief said.
He said that like in the previous years, July was a peak season for foreign tourists so that in July usually the number of arrivals was bigger than that in the previous months.
Heriawan said that foreign visitors entering the country through the 11 main gates in July reached 510.5 persons, or an increase of 8.22 percent compared with that in the previous month.

1.09.2009

Russia’s withdrawal from crisis is in progress, says minister.
Russia has begun a withdrawal from the economic crisis, although it has not fully gotten out of it yet, Russian Finance Minister Alexei Kudrin said Tuesday.
Prime-Tass economic news agency quoted him as saying the current level of state financing of the economy is quite sufficient and he does not think it should be increased.
“We shouldn’t increase state financing of the economy, as this would inflate the budget deficit or mean eating into reserves,” which in turn is comparable to an additional emission of monies, Kudrin said.
“The latter might trigger new problems with inflation and interest rates, while we’re doing our best to reduce the rates,” he said.

31.08.2009

GM’s St Petersburg-based plant resumes production.
The St. Petersburg-based plant of U.S. carmaker General Motors (GM) has resumed production on Monday after a two-month suspension, the plant’s Government Relations Manager Yulia Boicharova said Monday, the business news agency Prime-TASS reprted.
Production was suspended on July 1 due to a decline of car sales in Russia.
Workers were receiving two-thirds of their usual wages during the suspension period.
The plant was launched in November 2008 and operated in a test mode until February. It produces Chevrolet Captiva and Opel Antara crossovers and is expected to start producing Chevrolet Cruze sedan this autumn.

29.08.2009

Government of Indonesia opens sugar import opportunities by end of 2009.
The government plans to open opportunities for sugar imports by the end of this year to secure sugar supplies next year.
"The opportunities will be open in anticipation of a climatic change which will have an adverse impact on sugar production," Minister of Trade Mari Elka Pangestu said in Jakarta, Friday.
But before making a final decision on sugar imports, the government will first hold a technical coordinating meeting to finalize the national sugar balance on Monday (Aug 31).
"The sugar balance will be a basis for further efforts and measures in suppressing efforts at raising the price of the commodity, such as making the right adjustments of the import volumes," he said.
According to the trade minister, it would be necessary to re-count the national sugar balance for a prection of the impact of a climate change on production targets and changes of data on the need for crystalized sugar which may occur due to the excessive use of sugar by the food and beverage industries.
Right now the government is still trying to curb the increase of the price of sugar which has reached Rp9,700 per kg of the national average.
The first step would be for the government to call on sugar producers, especially state enterprises, to sell the commodity at low prices.
"Another measure would be making adjustments to sugar imports, or import duty adjustments," the minister said.
She also said that sugar supplies for national consumption was still enough until the end of the year, but the government still needs to anticipate next year`s needs of the commodity.

28.08.2009

Russian envoy discusses energy projects with South Korea.
Russian presidential envoy to the Far East Viktor Ishayev held talks with South Korean President Lee Myung-bak and said they discussed joint development of energy resources and cooperation in infrastructure construction and information technologies.
Ishayev, who also met Foreign Minister Yu Myung-hwan, told Tass on Friday he discussed “a wide range of economic cooperation issues between the two countries”.
“Seoul is interested that Russia is currently putting emphasis on the development of relations with Asia and the Pacific Rim as the most rapidly and dynamically developing region of the world. We have the economic basis for cooperation, as well as the political one,” he said recalling Russia and South Korea will mark 20 years of diplomatic relations next year.
“We have no territorial problems, no major debts or other unsettled issues,” Ishayev said.

27.08.2009

Malaysians to Bali up 28.49 percent.
Malaysians spending their holiday in Bali reached 73,853 in the first semester of 2009, which is a 28.45 percent increase compared to the 57,477 people in last year`s same period.
"Malaysia contributed 6.91 percent of the total number of foreigners visiting Bali reaching 1,070,595, head of the Bali Central Bureau of Statistics Ida Komang Wisnu said here Sunday.
She also said that the number of foreign tourists to Bali had increased by 10.25 percent compared to the 971,061 in the first semester of 2008.
"The Malaysians came to Bali through Ngurah Rai airport, and none of them used a sealiner,"Ida Komang Wisnu said.
In June 2009 the number of Malaysians visiting Bali reached 15,661, up 39.77 percent compared to only 11,205 in June 2008.
Malaysia ranked fourth after Australia, Japan, and China of the 10 countries with the biggest number of ciziens visiting Bali.
Australia and Japan are rotatingly the biggest contributor to the number of foreign tourists coming to Bali.
The number of Japanese coming to Bali dropped 10.94 percent, was still second after Australia with 154,071 people, or 14.41 percent of the total number of foreign tourists to the Island of Paradise.
Chinese tourists ranked third with 97,930 people, followed by Malaysia, South Korea, Taiwan, France, the UK, Germany, and the United States.
Of the 10 countries with the highest number of tourists visiting Bali, seven had a significant increase.
Only three countries whose number of tourists visiting Bali had dropped, namely Japan down 10.94 percent, South Korea 9.26 percent, and Taiwan 19.95 percent, Ida Komang Wisnu said.

26.08.2009

Russia and Mongolia sign agreement on joint venture to produce uranium.
Russia and Mongolia signed on Tuesday an agreement on establishing a joint venture on prospecting, production and processing of uranium. The document was signed in the presence of the Russian and Mongolian presidents by the results of bilateral negotiations. “We sign an intergovernmental agreement on setting up a joint venture for prospecting, production and processing of uranium. Russia has become the first country, with which Mongolia signs an agreement on joint operations on uranium. This is an important political signal,” emphasised the Rosatom head in Ulan-Bator, replying to questions by reporters.
According to Kirienko, the joint venture is based “on parity of interests”. He noted that last March 17, Rosatom and the Mongolian Nuclear Energy Agency signed an interdepartmental document, saying that this enterprise would operate under the “50x50” principle. The venture in question, Kirienko continued, displays interest, above all, in developing the Dornod uranium cluster as well as Mongolia’s East-Gobi district deposits.
“We are interested in Dornod also over the fact that our Priargunskiy Mining and Processing Combined Works is located 200 kilometres from this deposit. This will give us a chance to create a single infrastructure and to invite our specialists,” the Rosatom head explained.
Besides, Kirienko went on to say, “we are confident that reserves of the Dornod cluster can be boosted”.
The Rosatom manager did not specify how much Russia was ready to invest in the development of the Dornod deposit, noting only that “one may speak of several hundred millions of dollars”.
Asked about the time of launching the Russian-Mongolian venture for uranium production, Kirienko noted that this would be done in the near future.
“We believe that the main work on establishing the joint venture can be completed even this year,” he added.
Kirienko specified that the AtomMon state-owned company would be the venture’s participant from the Mongolian side and Atomredmetzoloto from the Russian.

25.08.2009

Suzuki to invest US$308 mln to set up global R&D hub in India.
Japanese auto giant Suzuki has announced an investment of up to Rs 1,500 crore (US$308 million) in the next 6-7 years to set up a research and development centre in India, which will be the company's global small car R&D hub.
The company's subsidiary - Maruti Suzuki India (BSE:532500) - will develop the 700-acre R&D centre, to be constructed in two phases, here in Haryana by 2015.
"This facility in Rohtak would be a big step forward in building the R&D capability of Maruti Suzuki, and enable us to offer superior products to our customers in the future as well," Maruti Suzuki India (MSI) managing director and CEO Shinzo Nakanishi said here.

24.08.2009

Foreign investors ready to support Russia’s regional banks.
Russia’s regional banks need financial support, the president of Regional Banks Association of Russia, Anatoly Aksakov, told a news conference on Tuesday.
“The country will be getting out of the crisis along with the development of the regions, where banks are the centres of financial infrastructure,” he said.
Aksakov stressed, additional capitalization of large banks as well as of small regional ones is important. Foreign investors led by the International Finance Corporation (IFC), a member of the World Bank Group, are ready to join this process, he said. Greg Alton, IFC Senior Investment Officer, confirmed this position and noted that the work with Russian regional banks is already underway.
He stressed, with Russian government’s participation the IFC would also increase investments. Alton did not speak in terms of definite figures, but highlighted that about several million dollars were involved.
The IFC has an experience of such cooperation with the Japanese government, he said. Japan set up a special fund with 2 billion dollars worth of the government and 1 billion dollars –of IFC investments.

21.08.2009

Samsung want to build petrochemical plants in Indonesia.
Two foreign petrochemical companies, Mitsubishi Chemicals (TSE:4010) and Samsung, are studying possible investment in Indonesia this year.
Mitsubishi is carrying out a feasibility study on building a coal gasification project valued at US$500 million in Bontang, East Kalimantan.
Meanwhile, Samsung wants to team up with PT Trans Pacific Petrochemicals Indotama (TPPI) to build an aromatic plant in Tuban, East Java, where TPPI already has a petrochemical complex.

18.08.2009

APEC summit 2012 expected to boost Vladivostok economy.
Russia’s Far Eastern city of Vladivostok will be developing in the coming few years owing to manufacturing activity in connection with the construction of facilities for an APEC summit in 2012, said a forecast for Vladivostok’s development drawn up by specialists of the city administration.
These projects are already influencing the economy of the city that will host the summit. The previous year and the first months of the current year show a stable development of the economy and the social sphere, and the crisis is manifested only in the sphere of housing construction and on the labour market.
Specialists consider two variants of the city development. The first one is conservative, demonstrating a moderate pace of the economic development. The second one is moderately optimistic. The document concerns, in particular, forecasts for the development in such spheres as demography, industrial production and construction, the market of commodities and services, foreign economic activity, the development of small and medium-size businesses, the level of incomes of the local population.
Some economic branches of the city are already demonstrating a visible growth. Growth rate in the chemical industry made up 190 percent in the first five months of this year. Production of machinery and equipment grew by 180 percent. The amount of work done in the construction sphere is 10.3 percent higher than in January-June 2008. The number of people arriving in Vladivostok for domicile exceeds the number of those who left the city by 349.

4.08.2009

Russia reports 1.4% year-on-year oil output growth in July.
Russia's oil output increased 1.4%, year-on-year, in July to 41.92 million metric tons (307 million barrels), the Russian Energy Ministry said on Monday.
With the July 1.4% increment, Russia's oil output increased 0.3% in January-July 2009, year-on-year, to 284.52 million metric tons (2.09 billion barrels), the ministry said.
Year-on-year, Russian crude exports declined 0.6% in July to 19.17 million metric tons (140.5 million barrels) and increased 1.1% in the first seven months of the year to 141.59 million metric tons (1.04 billion barrels), the ministry said.
Russia's oil output declined 0.7% in 2008 from a year earlier to 488 million metric tons (3.58 billion barrels). The Economic Development Ministry projects oil production to amount to about 488 million metric tons in 2009, 485 million metric tons (3.56 billion barrels) in 2010, 483 million metric tons (3.54 billion barrels) in 2011 and stabilize at this level in 2012. Oil exports are expected to hit 245.5 million metric tons (1.79 billion barrels) in 2009, 243-246 million metric tons (1.78-1.8 billion barrels) in 2010, 241-247 million metric tons (1.76-1.81 billion barrels) in 2011 and 238-245 million metric tons (1.74-1.79 billion barrels) in 2012.
Russia's natural gas production declined 20.2% in January-July 2009, year-on-year, to 315.93 billion cubic meters while natural gas exports fell 37.2% to 73.62 billion cubic meters, the ministry said.
Gazprom's natural gas output in the first seven months of the year contracted 24.6% to 248.92 billion cubic meters, the ministry said.
In July 2009, natural gas output in Russia declined 16.2% from a year earlier to 41.42 billion cubic meters, with Gazprom's production falling 19.9% to 32.14 billion cubic meters, the ministry said.
Natural gas exports grew 15.6% in July to 15.1 billion cubic meters, the ministry said.
Russia's Economic Development Ministry expects natural gas production to reach 620-644 billion cubic meters in 2009, 596 billion cubic meters in 2010, 610 billion cubic meters in 2011 and 621 billion cubic meters in 2012.
Russia's coal output declined 14.1% in January-June 2009 from a year earlier to 160.8 million metric tons while coal exports fell 2.6% to 53.95 million metric tons, the ministry said.

3.08.2009

Indocement to invest US$80 mln in expansion.
Indonesia's second-largest cement maker PT Indocement Tunggal Prakarsa (JSX:INTP) will invest US$80 million this year. Part of the funds will be used to build a cement mill now under construction in Cirebon, West Java, with a capacity of 1.5 million tons a year.
The project would be completed by the end of this year, Indocement President Daniel Lavalle said here last weekend. The new production facility would increase the production capacity of the company, which was controlled by Germany's Heidelberger Zement Ltd, to 18.6 million tons a year, Lavalle said.

1.08.2009

EU, Ukraine reach agreement on gas sector reform.
The European Commission said the EU and Ukraine have reached an agreement to reform the Ukrainian gas sector, and Kiev will be given an international loan to buy Russian gas.
Commission President Jose Manuel Barroso said Friday evening: "I'm extremely pleased that political agreement has been reached with Ukraine on reform of its gas sector which opens the way for a financial assistance package to be provided by the International Financial Institutions to Ukraine."
"The agreement should provide the stability needed to significantly reduce the risk of a further gas crisis between Ukraine and Russia and therefore provide the security of supply that Member States and our consumers expect," he said.
Ukraine is seeking a syndicated loan of over $4 billion from European banks to help pay its debts to Russian energy giant Gazprom until November 2009. An EC source said earlier that Ukraine could now be given up to half of the sum.
Barroso said in early June it would be difficult for the EU to help Ukraine keep up with its payments.
Russia, which supplies around one quarter of Europe's gas, briefly shut down supplies via Ukraine's pipeline system at the start of the year during a dispute with Kiev over unpaid debt.
The conflict was resolved in January, when Russian Prime Minister Vladimir Putin and his Ukrainian counterpart, Yulia Tymoshenko, agreed deals on deliveries to and gas transit through Ukraine for 2009.
The ex-Soviet state transits around 80% of Russia's Europe-bound gas.

30.07.2009

S.Korea, Russia to discuss laying gas pipeline across N.Korea.
South Korea's economics minister along with oil and gas executives will visit Russia in August to discuss the possibility of laying a gas pipeline across North Korea, the Maeil business daily said on Thursday.
During his visit, Lee Youn-Ho will meet with Russian Energy Minister Sergei Shmatko. The talks will involve the heads of the Korea Gas Corporation and Korea National Oil Corporation.
The countries hope to be able to pump natural gas from Yakutia in the Russian Far East to South Korea directly via the North. However, all economic projects between the two Koreas are currently frozen.
According to information from the South Korean government, Russia is set to supply 750 metric tons of natural gas annually to South Korea for 30 years, to meet about 20% of the country's gas demand.
The talks in Moscow are also expected to focus on an action plan for the joint development of oil and gas deposits, and also the development of offshore deposits to the west of Kamchatka in the Russian Far East, the paper said.

29.07.2009

Bangladesh revenue board to adopt business-customs partnership.
Bangladesh's National Board of Revenue (NBR) is now going to adopt a new technique based on Business-Customs Partnership to increase revenue collection by preventing tax-dodging tricks.
Under the new methodology, the NBR will use businessmen and their trade bodies to unearth revenue-dodgers. NBR member (Customs and VAT Administration) M Farid Uddin said Business-Customs Partnerships were a new idea in the financial world and had been proved very effective in catching tax evaders.
He said that the NBR would sit with the leading businessmen and trade bodies from different sectors and request them to provide information regarding the culprits who are dodging revenue.

28.07.2009

Britain still interested in business contacts with Russia.
The global financial and economic crisis has had an inevitable negative effect on the level of Russian-British economic relations, however the United Kingdom still has major interest in developing business contacts with the Russian Federation, Russian Ambassador Yuri Fedotov told Itar-Tass in an interview.
According to him, the global crisis effects have lowered the level of trade-economic relations between Russia and Great Britain, that “even in unfavorable political times remained a reliable anchor” of the bilateral contacts. “But at present we have to state, unfortunately, that the volume of British investments in the Russian economy is decreasing and the growth of trade between the two countries has slowed down.It is quite a natural phenomenon in the global crisis conditions,” the Russian diplomat noted.
At the same time, Fedotov stressed, “of the thousand British companies that have settled and are working in Russia, not a single has quit and they continue to keep their positions.” According to the head of the Russian diplomatic mission to Britain, the two countries’ governments are signaling to their business communities that it is necessary to survive this crisis and adapt to it in order to again have the possibility to successfully develop the bilateral relations after it ends.
“Despite the crisis effects, Great Britain is in the group of the four largest investors in the Russian economy. The total volume of accumulated British investments exceeds 12 percent.
And, judging by my contacts with the British business representatives, the interest towards our country, the possibility of making investments in its economy is not weakening,” Fedotov noted. He also said with conviction that this interest is clearly observed in Scotland and Wales, he saw this in contacts with representatives of business communities during recent trips in these UK regions. Fedotov said that it is planned to hold an official meeting of the intergovernmental commission on trade and investments this year, most likely in autumn. Its co-chairs are: from the Russian side – Vice Prime Minister and Finance Minister Alexei Kudrin, and from the British side – Lord Mandelson, a British Labour Party politician who is the current First Secretary of State, Secretary of State for Business, Innovation and Skills and Lord President of the Council.
According to the Russian ambassador to Britain, the task of this commission it to outline new horizons of the trade-economic cooperation, and not only in such traditional spheres and the mining and oil and natural gas sectors, but also in the advanced spheres, including nanotechnology. Besides, Fedotov noted, there is major potential in interaction of the organisational committees, non-government structures and business communities in the process of preparations for such important events as the 2012 Summer Olympic Games in London and 2014 Winter Olympic games in Sochi.

27.07.2009

Russia has to seek new markets for grain exports. Russia will be forced to look for new markets for its grain this year amid declining demand in countries that are traditional buyers, the president of Russia's Grain Union said on Monday.
"A difficult season is expected. This is not linked with our level of competitiveness - objectively, consumption is declining in the countries for which Russia is a traditional grain supplier: Egypt, Saudi Arabia, Tunisia, Morocco and others. This prompts us to look for new markets," Arkady Zlochevsky said.
Zlochevsky declined to specify the possible amount of Russian grain exports this year.
'Exports depend on many factors. However, they will hardly exceed last year's level [22.4 million metric tons]. But in any case, we'll be able to sell 13 million metric tons - the amount that we have earlier secured in guaranteed sales on the world market," he said.
The expert said that most likely Russian exporters would be developing Southeast Asian markets to which the first batches of Russian grain, in particular to Japan and the Republic of Korea, were delivered in the previous marketing season.
"This is a very capacious market," Zlochevsky said, adding, however, that these efforts would be hindered by logistic problems. Zlochevsky said that Russia's gross grain harvest was expected at 85-90 million metric tons this agricultural year despite drought in some grain-producing regions of Russia. Last year, Russia harvested 108.1 million metric tons.

26.07.2009

Russia to have its own pavilion to EXPO 2010 to Shanghai.
Russia is to have its own pavilion at the Shanghai World Expo 2010 which is due to run from May 1 - October 31, 2010, a spokesman for the operator the All-Russia Exhibition Center said.
The central theme of Shanghai Expo 2010 in China’s financial capital is Better City, Better Life.
Russia is due to present its proposal for the pavilion on July 28 during a visit by a Russian delegation to Shanghai.
The spokesman said that the Russian pavilion at the Shanghai expo will represent innovation and the intellectual search to solve the complex tasks of the post-industrial world.
“Conceptually, the pavilion represents Russia as a country with unique experience and traditions in the creation and development of engineering and humanitarian technology. The main focus of the Russian display will be a combination of priority areas for Russia’s development, including those inspired by urban life: energy security and efficiency, innovation in healthcare and social development, nuclear technology, space exploration and the development of communications,” he said.
The design of the Russian pavilion will be based on three main elements: 12 white and golden towers, a “hovering” cube resting on the foundations of the twelve towers, and an internal installation.
The towers will jut upwards to symbolize skyscrapers in fast-growing cities. The white and golden color of the towers represent historical images of Russian architecture and the towers will be designed to represent the different ethnic groups in Russia.
“External facing elements are mobile, creating vast spaces of a ‘living facade’ which will create an image of a giant being while reflecting the sky, towers, plants, and people. During the nighttime, special lighting will be used to create an even more breathtaking effect of a changing light-color-dynamic screen,” the spokesman said.
He added that the Russian pavilion would contain a humanitarian zone where EXPO participants and visitors will be able to take part in a discussion on the meaning of a Better City, Better Life and on changing urban communities, and how to implement the idea of global harmony.
Visitors to the Russian pavilion will also be able to sample national cuisine at a local restaurant and buy a variety of souvenirs made by Russian craftsmen.

25.07.2009

Indonesia to open 400,000 ha of new oil palm plantations this year.
Indonesia, one the world's largest palm oil producers, plans to expand its oil palm plantations by 400,000 hectares this year from 7.1 million hectares it has now.
The expansion, twice as large as earlier projected by the association of palm oil companies (Gapki), will be made in Sumatra and Sulawesi, Plantation Director General Achmad Mangga Barani said. Mangga Barani said investment needed for the expansion is around Rp30 million (US$3,000) per hectare.
Barani said among large companies planning expansion this year are the Sinar Mas Group, Wilmar Group, and PT Bakrie Sumatera Plantations, and state companies PT Perkebunan Nusantara III and IV.

24.07.2009

China to overtake Germany as world`s largest exporter: WTO.
China is expected to overtake Germany as the world's top merchandise exporter this year due to the weak performance of the European economy, an official with the World Trade Organization said Wednesday.
WTO chief economist Patrick Low made the remarks at a two-day gathering of trade ministers from APEC economies in Singapore. Figures from the global trade body show that China's merchandise export totaled US$1.428 trillion last year, slightly below Germany's US$1.465 trillion.
"WTO data show that Asian countries are leading a recovery in the global trade," Pascal Lamy, Director-General of the WTO said. International financial institutions predicted that as the world economy gradually pulls out of the recession, led by emerging economies later this year, China will benefit from recovering trade.

23.07.2009

Republic of Indonesia maintains economic growth target for 2009.
Finance Minister Sri Mulyani Indrawati said the government will not change the 2009 economic growth target because the recent bomb attacks at JW Marriott and Ritz Carlton hotels here did not leave a bad impact to the Indonesia`s economy.
"We do not revise the 2009 economic growth, because last Friday`s bombing attacks we condemned, did not bring about serious impact to real economic activities in the country," the minister said here Wednesday following a discussion with five other cabinet ministers and representatives of the Indonesian chamber of commerce and industry.
The government will only anticipate a change in the flow of human resources in connection with the tight security inspection in seaports, airports and bus terminals, Indrawati said.
Sri Mulyani Indrawati said the cancellation of tourist visits in the last weekend, only concerned those who would stay at the two hotels attacked by the terrorists.
"In addition, we also had talked with the House of Representatives (DPR) that if an anticipatory effort caused an impact on the budget, the DPR will support (the government)," he said.
During the discussion, minister Indrawati also talked about the goverment`s preparations for he Muslim fasting month of Ramadhan and the Idul Fitri festivities.

22.07.2009

Indonesia: APEC needs to have regional trade financing cooperation.
Indonesia has proposed the establishment of regional trade financing cooperation within the Asia-Pacific Economic Cooperation (APEC) forum.
"What we have been after since yesterday is trade financing. We must continue cooperation (in the field) at APEC level. The cooperation so far is bilateral among individual members," trade minister Mari Elka Pangestu said to newsmen through a teleconference from Singapore here on Tuesday.
She said trade financing was very important for developing small and medium-sized buinesses (UKM) particularly with regard to exports.
"It is the UKM that needs insurance. We hope there will be trade relations among UKMs of APEC members," she said. Trade ministers from APEC members gathered for an annual meeting on July 21-22 in Singapore to discuss progress of economic cooperation among APEC members in various fields.
In the session on "Addressing the Crisis, Preparing for Recovery" the ministers discussed efforts to facilitate trade financing through bilateral and regional cooperation networks.
"To recover from current crisis it requires coordination and close linkage of steps in the financial and trade sectors," she said. In the meeting the ministers agreed that the dialogue process had to be continued and increased not only to overcome crisis and smoothen ways to recovery but also to create APEC economic resilience in the long term.
Mari said in the meeting Indonesia had given special emphasis on increasing social resilience through capacity development programs for UKMs, the poor and the workers.
"This is a very important short- and medium-term agenda for APEC especially with regard to helping the people and businesses that have been hit the hardest by the current crisis and to increasing regional economic and social resiliance to face possible similar crisis in the future," she said.
The minister said APEC had to pay attention to capacity development programs that would affect UKMs and community groups badly in need of them.

21.07.2009

Pacific Economic Congress to be held in Vladivostok July 25-26.

The Pacific Economic Congress will be held in Vladivostok on July 25-26 under the motto “Russia and APR Countries - from Cooperation to Integration.” The organising committee has sent more than 600 invitations for the congress to representatives of the Russian and foreign business, state structures and scientific communities.
The programme “Strategy socio-economic development of the Primorsky Territory up to 2025 in the conditions of transformation of Asian markets” will be presented at the event. Primorye governor Sergei Darkin will deliver a report at the forum’s plenary session.

Executive Director of the Secretariat of the Asia-Pacific Economic Cooperation (APEC) forum Michael Tay is invited to the forum. His speech is also devoted to peculiarities of the region’s economic processes – “Asian markets’ change: change in the development model of Asian countries,” the forum’s organising committee told Itar-Tass on Tuesday. Khabarovsk Territory governor Vyacheslav Shport is also planned to deliver a report on the “development of the fuel and energy complex of the Russian Far East – the foundation for intensification of Russia’s integration cooperation with Asia-Pacific Region’s countries” at the plenary session of the congress.

The forum’s programme includes discussions reflecting aspects of the development of cooperation in the region: "The fuel-energy complex, and oil and gas processing: market development projections and key projects," "Transport and logistic system and transit traffic of the Far East: growth and development prospects." A presentation “Regional architectural exhibition Vladivostok 2012” will also be held.
Darkin said in a welcoming message to the congress participants, in particular, that “Within the Congress frame, the foreign and domestic representatives of governmental authorities, business and scientific circles are going to discuss and elaborate new ways of investment, industrial and trade cooperation between Russia and the Pacific Rim countries, as well as the growing importance of the Russian Far East in the regional integration processes.”

“Of special significance for both Russian and foreign participants is the fact that Primorsky Krai - the hub of the Russian Far East business activity – is chosen to host this event. The discussion platform of the Third Pacific Economic Congress is one of the key events in the Far East to discuss the investment issues, commercial and economic issues, scientific and technical issues, and social issues within the frame of cooperation between Russia and the Pacific Rim countries,” he noted.
“The parallel discussions concerning most vital aspects of the current business and social life are to be proposed to the participants. The focal point of the Third Pacific Economic Congress is the strategic collaboration between the Far East and the Pacific Rim countries, the implementation of new investment projects, and the improvement of the transport, energetic and financial infrastructures,” Darkin said.
“I express my confidence that suggestions and recommendations elaborated at the Third Pacific Economic Congress will appear on the agenda of the APEC Summit that Vladivostok hosts in 2012, and that these ideas will promote further investment, industrial and trade collaboration between Russia and the Pacific Rim Countries,” he said in the message.

The Pacific Economic Congress is an event of the international and national levels, hosted in the Primorsky Territory as an annual event with the participation of the Russian and foreign business circles, scientific community and governmental institutions. Congress' objective is the development of the investment, trade and industrial cooperation between Russia and the Pacific Rim countries, the growth of importance of the Russian Far East in the regional integration processes. The congress has the following goals: organisation of the international discussion platform for the representatives of Russian and foreign business circles, scientific community and governmental institutions concerning the questions of the investment, innovation, trade and economic collaboration between Russia and the Pacific Rim countries; discussion of the efficient mechanisms of the state and individual cooperation for joint implementation of the investment projects between Russian and foreign partners.

The Pacific Economic Congress will be held in the Primorsky Territory for the third time. The first congress was held in Vladivostok in July 2007. More than 350 businesspeople, economists from Moscow, St. Petersburg, RF Far Eastern territories, as well as from China, Japan, South Korea and the United States attended the congress. The most important events were the presentations of projects for the preparation of Russia’s APEC presidency in 2012 and creation of the Primorye gaming zone.

The second congress was held in July 2008. It was remembered for the presentation of the strategy of socio-economic development of Russia’s Primorsky Territory up to 2025.
Besides, the forum’s participants discussed development of the energy and oil and natural gas industries of the Far East, transport-logistic complex of the region, the development of financial markets and implementation of business projects in the Russian Far East.

20.07.2009

Russia, Kazakhstan, Belarus could resume WTO talks in September.
Russia, Kazakhstan and Belarus could reopen World Trade Organization (WTO) negotiations in September, the Kremlin's WTO point man said on Monday.
"Russia, Kazakhstan and Belarus will likely resume negotiations on WTO membership by the fall of 2009," Maxim Medvedkov. He said Russia and her partners in a yet-to-be-formed three-nation customs union were in the process of synchronizing their positions.
Russia, Belarus and Kazakhstan agreed in early June to form a customs bloc and seek joint accession to the WTO.
Russian President Dmitry Medvedev said last Friday the most realistic option for Russia to join the World Trade Organization was to do so separately, but to agree on common positions with Belarus and Kazakhstan.
Commenting on Russia's WTO prospects, the organization's head Pascal Lamy said in late June WTO members were still "unclear as to what the next steps would be."
Russia is the world's only major economy still outside the WTO. Consent from all 153 WTO members is necessary for a state to join the organization.
To date, Russia has completed mandatory bilateral negotiations with 60 countries, but has yet to synchronize positions on several issues, including agriculture, export duties for timber, and regulation of some state-controlled companies.

19.07.2009

Amid some fanfare, PepsiCo opened its largest bottling plant in the world last week in Domodedovo, on the southern outskirts of Moscow.
The opening came immediately after US President Barack Obama's visit to Moscow, and a day before the 50th anniversary of Pepsi coming to the Soviet Union. Exactly 50 years earlier, then-CEO Donald Kendall personally helped hand out 3 millions cups of Pepsi to visitors at the American National Exhibition in Moscow, and Nikita Khrushchev was said to have downed several cups of the drink.
An 88-year-old Kendall was present at the July 8 ceremony, which was also attended by US Commerce Secretary Gary Locke and Economic Development Minister Elvira Nabiullina.
Both Locke and Nabiullina commended PepsiCo's investment in Russia as a model for mutually beneficial trade ties. "We welcome foreign investment," she told reporters at the ceremony."The Russian market is vast and open."
Pepsi was the first Western consumer product to be manufactured and sold in the Soviet Union.
PepsiCo chairwoman Indra Nooyi said that the newly opened plant, in which $180 million was invested, is part of a three-year plan to invest $1 billion in Russia and the CIS. A plant for making snacks in the Rostov region is currently in the works.
This will bring up PepsiCo's total investment in Russia and the CIS to $4 billion, including the $2 billion acquisition last year of Russia's biggest juice producer, Lebedyansky, which holds the brands "Ya" and "Tonus", amongst others.
The 45,000 square-metre plant employs 450 people and has two production lines. That is soon to become three, and eventually, seven lines should be working, producing up to 1 billion litres of beverages a year.
CEO of PepsiCo International, Mike White, is confident about expanding in Russia, and says there is still a lot to bring here. "Doritos for instance," he said, "is something I think we should get to work on."
The main problem, however, lies in the main ingredient, corn. While FritoLay, a division of PepsiCo's snack food may be a niche relatively immune from the recession.
Nooyi said that "nobody likes to see recession" and that people are still eating and drinking, but different things. "We like our business, but we like growth much better. Great consumer confidence, great consumer optimism is the best for all of us," she said.

18.07.2009

Bomb blasts won`t affect taiwanese investment in Indonesia.
The two low-level bomb blasts which slightly damaged two hotels in Jakarta and killed nine people will mot affect Taiwanese investment in Indonesia, a Taiwanese official here said.
Timothy Chin-tien Yang, Representative of the Taipei Economic and Trade Office in Indonesia, in an interview here on Friday evening said cooperation in many fields between Taiwan and Indonesia would not be affected.
Bomb blasts could happen anywhere in the world. Even the United States whose security system was perhaps the best in the world was not immune to bomb blasts, he said.
"I do not think the bomb blasts will deter Taiwanese investors from investing in Indonesia," Timothy said.
However, the investigation into the incidents should be handled seriously by the government so that foreign investors could be convinced that security in Indonesia was good, he said.
"I personally understand that security and conditions in Indonesia in general now are conducive, good and safe. There is nothing to be worried about," he said, adding that people living in foreign countries did not know this. Therefore, efforts to catch the perpetrators of the bombings should be made consistently," he said.
Asked whether Taiwan would issue a travel warning on Indonesia, Timothy said it would never happen. He as Taiwan`s representative in Indonesia would not make any recommendation to his government to that effect.
"The bomb blasts happened only at two American-owned hotels in Jakarta. Why should we be worried about it. Taiwanese tourists can stay at other hotels," he said.
"I received long-distance calls from four Taiwanese TV stations but I just said there was nothing to worry about. Such bomb blasts could happen anywhere.Hence, it is not necessary to discourage Taiwanese tourists from visiting Indonesia," he said.
In the meantime, the Indonesian Chamber of Commerce and Industry (Kadin)`s chairman for Cooperatives and Small Businesses, Sandiaga Uno, said on Friday it was hoped the bomb attacks would not affect the real sector too seriously.
"We hope the bomb blasts will not deter foreign and domestic investors from investing in the country," Sandiago Uno said.
The Kadin official said it was hoped prospective investors would not be prompted to cancel their investment plans in Indonesia in the coming two years. "I am afraid the tourism sector which is now thriving in Indonesia will be affected significantly," he said.
He said Kadin was hoping the bombing`s impact on the tourism sector would not last too long because the multiplier effect of tourism development was beneficial for small businesses.

16.07.2009

G8 leaders "hopeful on economy".

Leaders of the major industrial powers, the G8, say there are signs of stabilisation in the world economy but warned that "significant risks remain".

The statement came as the International Monetary Fund said the world economy was beginning to pull out of recession.
The G8 summit is being held in the town of L`Aquila, Italy, where nearly 300 people died in an earthquake in April.
UK Prime Minister Gordon Brown said later on Wednesday that the summit has agreed tough new carbon emissions cuts.

He said the G8 had agreed it would cut carbon emissions by 80% by 2050 with the rest of the world committed to a 50% cut over the same period.

Mr Brown said the G8 would try to prevent global average temperatures rising more than 2C above pre-industrial levels.
The summit agenda is also expected to include food security, North Korea and Iran.

The area where the three-day summit is being held is still suffering aftershocks and an evacuation plan is in place in case a serious tremor should hit

Russian President Dmitry Medvedev flew in fresh from talks with Mr Obama in Moscow in which they agreed a framework for new nuclear weapons cuts.

15.07.2009

German investor confidence falls.
Confidence among German analysts and investors has fallen in July for the first time since October 2008, an influential survey suggests.

The findings of the Zew economic sentiment index will temper hopes of recovery in Europe`s largest economy, observers say. The index, which measures expectations of economic activity over the next six months, fell to 39.5 from 44.8 in June. A Reuters poll had suggested analysts sentiment was improving.

But Zew said that respondents had expressed concern over whether lending to firms and households would work out - something that posed "considerable risk for the future development of the German economy".
A separate measure of current conditions rose slightly, to -89.3 from -89.7.
Germany`s economy shrank by 3.8% in the first quarter of 2009 on the back of slumping demand for exports.
Late last month, a separate survey suggested that firms in Germany were more confident than they had been for seven months.
The Ifo index climbed for the third month in a row to 85.9 in June from 84.2 in May - better than many analysts had been expecting.

14.07.2009

G8 pledges to boost food supplies.

Leaders of the G8 developed nations have pledged $20bn (12bn) for efforts to boost food supplies to the hungry, on the final day of a summit in Italy.

The investment, which is $5bn more than had been expected, will fund a three-year initiative to help poor nations develop their own agriculture.

Richer nations had a moral obligation to help poorer nations, he said.
Mr Obama added that the G8 nations had agreed to commit $15bn for the new initiative going into Friday`s meeting, but had then promised an additional $5bn in "hard commitments" during the talks.
"We do not view this assistance as an end in itself" he said.
"We believe that the purpose of aid must be to create the conditions where it`s no longer needed, to help people become self-sufficient, provide for their families and lift their standards of living."

That is to be achieved with more investment in the agriculture of developing countries, and the G8 nations - Britain, Canada, France, Germany, Italy, Japan, Russia and the US - will provide significant resources, our correspondent adds.

13.07.2009

Russian government approves 2010-2012 macroeconomic forecasts.

The Russian government at a meeting on Monday approved updated forecasts for the country`s economic development in 2010-2012, Economic Development Minister Elvira Nabiullina said at apress conference following the meeting.

"The draft scenarios and parameters of socioeconomic development in 2010-2012 have been approved," she said. The government selected a base scenario for moderate growth with oil prices forecast at $55 per barrel in 2010, $56 in 2011 and $57 in 2012.

12.07.2009

Indonesia aims to increase shoe exports this year.

Indonesian shoe makers set an export target of US$2 billion this year or an increase of 6.98 per cent from last year`s exports of US$1.87 billion.

The purchasing power of consumers in the export destination countries is improving, the association of Indonesian shoe companies said. Association chairman Eddy Widjanarko predicted demand will grow in the second half of this yea. Widjanarko said seven new foreign companies have invested in Indonesia`s shoe making industry as they see improvement in the market.

30.10.2008

In the context of Russian Federation’s strategy of the economic integration into economy of the Asia-Pacific region National Investment Agency has organized business-mission to Indonesia from October, 17 till October, 26th. The main purpose is assistance for Russian businessmen to involve their activity into the Indonesian markets using accumulated experience of National Investment Agency and its well-adjusted business contacts that provides the building of long-range cooperation with the dependable foreign partners.

Participants of business mission took part a number of successful meetings at high level – in National Agency for Export Development (NAFED), Ministry of Trade of the Republic of Indonesia, Chamber of Commerce and Industry of the Republic of Indonesia, Investment Coordinating Board of the Republic of Indonesia.

The Russian delegation has visited the largest exhibition of Indonesia «Trade Expo Indonesia 2008» which presented the wide range of goods and services: fish and seafood, cocoa, palm oil, coffee, volatile oil, traditional medicine (herbal), electronics, souvenirs, furniture, jewellery, footwear, medical equipments, clothes and textile, design-services, auto-repair parts, rubber and its production, foods, spices, office materials, leather goods, IT-companies etc. Has been signed a number of agreements including the agreement between National Investment Agency and Chamber of Commerce and Industry of the Republic of Indonesia.

14.10.2008

General director of National Investment Agency, Oleg Gorbulin, together with the head of the Center of Project Management in the sphere of Housing maintenance and utilities board, Ludmila Kozlova, took part in the III Economical Forum in Tula “Financial system – base for rapid economic growth”, that took to place since 9th of October 2008 till 11th of October 2008 in Tula.

It was noted that the investment projects of municipal entities were worked out on high level: a list of prospective projects in industry, agriculture, tourism was presented.

1962 delegates took part in the III Economic Forum in Tula, thereby, the heads of diplomatic missions from more than thirty countries participated at the invitation of the governor V.D. Dudka.

Within the framework of the III Economic Forum in Tula “Financial system – base for rapid economic growth” 47 investment agreements on partnership were endorsed, total coast of about 254 billion 550 million rubles. Herein: in industry – 204 billion 275 million rubles, in building industry – 39 billion 311 million rubles, in agriculture - 7 billion rubles, in enterprise – 404 million rubles.

05.10.2008

Oleg Gorbulin, General Director of The National Investment Agency, Participated At The II Investment Forum Of The Penza Region.

The II Investment Forum of the Penza region-2008 “Economy Of Stimuli: A Regional Model” took place on 4-5 October, 2008. It was organized by the Government of the Penza region. It had the following purposes: to attract investors for the implementation of the investment projects and to present the investment potential of the region.

Vasily Bochkarev, Governor of the Penza Region, Sergey Ivanov, Deputy Chairman of the Government of the RF, Grigory Rapota, Plenipotentiary of the RF President in Privolzhskiy Federal District, Irina Gorbulina, the member of the Public Chamber Committee on regional development, the head of the Subcommittee on regional development in the sphere of investments, the representatives of public associations and the leaders of large companies made their reports.

During the three-day-program of the Forum the participants got acquainted with the investment projects, took part in the section meetings and round-table discussions, master-classes and presentations, and visited the exhibition and the enterprises of the Penza region.

In the frameworks of the forum there were presented 5 sections: Industry, Agroindustrial Complex, Processing of the Raw Material Resources, Commercial Estate Property and Innovations. There also worked the “Investment City”-exhibition, where the investment prospects of the Penza region and the partners’ proposals were widely presented.

A number of protocols of intentions and agreements were signed as a result of the II Investment Forum of the Penza region-2008 “Economy Of Stimuli: A Regional Model”.

30.09.2008

On September, 29, Y.Limonov, the executive director of the National Investment Agency took part in the Russian-Korean Business Forum, which was organized in the frameworks of the official visit in Russia of Li Men Bak, president of the Republic of Korea.

The forum participants were greeted by Li Men Bak, President of the Republic of Korea, and E.Primakov, President of the Chamber of Commerce and Industry, the latter noting the high tempo of development of the Russian-Korean trade and mentioning, that the mutual commodity turnover may reach a record level; according to some estimations it will amount 20 milliard USD During his greeting Li Men Bak, President of the Republic of Korea, declared for the significant expansion of the economic cooperation between Russia and Korea in the spheres of oil and gas, energy, transportation building. He also emphasized the interest of the Korean business in the investment activity expanding in Russia.

The event was organized by the Chamber of Commerce and Industry of Russia together with the Russian and South-Korean Business Council and the Korean Assosiation of International Trade. The business-elite representatives of the both countries participated in the Business Forum. From the Korean party about 80 representatives of the leading enterprises and companies, working in the spheres of energy, automobile- and ship-building, aviation, electronics, building, chemical industry, tele- and intercommunications, finance, etc took part in the event. Among the Russian participants there were more than 160 leaders of the largest enterprises and business-structures, belonging to the key branches of economy: energy, oil-and-gas, building, transportation and finance ( JSC INTER RAO "UES of Russia", the Russian Railways Trading House, JCS VTB-bank, JSC "Eastern Energy Company", LLC RDM "Capital", JSC "Energy-Machinery-Building Alliance", JSC "Zarubezhstroy", etc).

A number of business negotiations were conducted and new business-contacts were established by the representatives of the National Investment Agency in the frameworks of the business-forum.

26.09.2008

The officials of the NIA took part in the “Indonesian Expo”- exhibition, which was held in the Moscow embassy of the Republic of Indonesia in Moscow on September, 20-26. A number of talks with the representatives of business circles, Administration and Indonesian investment organizations were held on the threshold of business-mission to Indonesia.

The program included a trade fair, the demonstration of the investment and trade potentials of Indonesia and a cultural program. The partners of the National Investment Agency visited this exhibition and held a number of meetings with the representatives of Indonesian side.

25.09.2008

The representatives of National Investment Agency took part in the 17th international exhibition “World Food 2008” on 23-26 September.

The exhibition has been passed annually since 1992 and it is the largest international food fair in Russia. Among the participants there are such companies as «Vernost kachestvu», «Glavproduct», «Evroprodservis», «Korkunov», «Rostagroexport», «Russian Tea Company», «Russian field», «Clean Line», «Efko», «Canada Pork», «Elit Chocolate», «Aguas Сlaras», «Comexport», «Mediterranian Brands SA, Hortino», «Albatross Seafood», «USA Poultry & Egg» and others.

A number of business negotiations were conducted, new business-contacts were the projects of partnership with the Russian and foreign companies were discussed.

22.09.2008

On Saturday, September 20, 2008 the first meeting “Russia-Taiwan Roundtable” was held at Marriott Grand Hotel.

The business-circles representatives of Taiwan and Russia have taken part in the Forum. Also the participators from Ministry of Foreign Affairs and Ministry of Economic Development were involved in this meeting. On the Forum the condition and prospects of bilateral cooperation in the trading and investment field were discussed. According to the results the steering Committee has defined a number of directions, in which activity will be made in the short term. In particular:
- The continuation the work for conclusion the agreement about investment between Russia and Taiwan.
- The proposal for simplification of the issue of Russian visa for foreign businessmen and assignation the work possibility for foreigners on the period from 3 till 5 years.
- The proposal about reduction of customs tariff for the import to Russia.
- The conduct for provisional the information about tenders and supporting the Taiwan companies in these tenders.
- The support of the Taiwan companies in the lease of land for establishment of production and branches on the favorable terms.

12.09.2008

The NIA representatives have been invited to participate in Indonesian EXPO 2008, which is organized by the Indonesian Republic Embassy in Russia. This event will be held in the building of the Embassy on Novokuznetskaya Street, 20 – 26, September. During this date the presentation of new economic and cultural prospects of Indonesia will be realized.

The last years (since 2004) show stable growth of the bilateral trading between Russia and Indonesia. In 2007 its quantity reached 916 million USD that exceeded by 50,9 % the similar index in 2006, including export – 251,6 million USD (addition by 43,6%), import – 664,4 million USD (addition by 58,1%).

The National Investment Agency (NIA) cooperates successfully with Indonesia for the long time. NIA organizes business-mission to Jakarta in October, 2008. This event is supporting by Indonesian Embassy as well as Russian Embassy in Indonesia.

08.09.2008

On Saturday, September 20, 2008 the meeting “Russia-Taiwan Roundtable” is to be held at Marriott Grand Hotel. The National Investment Agency will be presented by the NIA Executive director Mr. Y. Limonov. He is to introduce the report that is relating to development of the relations between Russia and Taiwan and investment prospects. The representatives of Ministry for Foreign Affairs of Russian Federation, Ministry for Economic Development of Russian Federation, Taipei-Moscow coordinating Commission and well-known consulting companies of both states will be attending this meeting.

22.08.2008

The National Investment Agency invites you to take part in Taiwanese business conference that is organized by the Taiwan Ministry of Economy and Taiwanese Consulate for development of foreign trading.

The conference is to be held from 6 till 8 October, 2008 in Taibei. The main issue is the “New Taiwan, New Prospects”.

Mainly the central subjects will be presented as follows:
- Technologies and projects in the sun energy;
- Wireless communications;
- Finances;
- Building;
- Tourism.

More than 600 participators will exchange of ideas and valuable experience and they will have a ground for more effective using the broad possibilities in the field of investment and partnership.
If you are interested in this, you can address for the additional information by the phone 411-85-43 or making an enquiry to artemov@ex.ru, zakirova@ex.ru

19.08.2008

On the 19th of August general manager of Russian Academy of Business, Oleg Gorbulin, endorsed a memorandum of understanding agreement between National Investment Agency and Prior Group with the president of New Zealand Company “Prior Group”, Stuart Prior, laid the foundation of partnership in a number of industries and branches, as well as discussed plans for business mission in Australia and New Zealand.

Prior Group is a New Zealand consulting company, specializing in advancing business partnership between New Zealand, Russia and CIS. Prior Group offers wide range of products and services on market guidelines, including business consulting, tourism, agriculture, commerce and education. Jointly with New Zealand partners company also suggests consulting services on immigration and investment in New Zealand issues.

05.08.2008

The business mission to Indonesia is to be held between 17 and 26 October, 2008, which will be organized by the National Investment Agency (NIA) in association with the Russian Academy of Business in the frames of realization “Russia–Asia-Pacific region” program.

The main purpose is assistance for Russian businessmen to involve their activity into the Indonesian markets using accumulated experience of Russian Academy of Business and its well-adjusted business contacts that provides the building of long-range cooperation with the dependable foreign partners.

The directions for the trading cooperation:
Textile and textiles industry, furniture, rattan-cane palm production, coffee, cocoa production, auto-spare part, electronics and electrical engineering, agriculture production and fisheries, mechanical engineering, constructional materials, rubber and its production, chemical production, mining equipment, cellulose and paper production, palm oil, food industry (seafood), spices, herb production, medical herbs, healthcare and pharmaceutics, souvenir production, tobacco production.

Investment possibilities: mining industry, energy, building and land property, agriculture, road building, railroad, sea transport.

Special possibility: visiting of the largest Indonesian trading exposition “TRADE EXPO”, which presents the broad range of goods and services: fish and seafood, cocoa, palm oil, coffee, volatile oil, traditional medicine (herbal), electronics, souvenirs, furniture, jewellery, footwear, medical equipments, clothes and textile, design-services, auto-repair parts, rubber and its production, foods, spices, office materials, leather goods, IT-companies etc.

02.08.2008

The National Investment Agency invites you to take part in a seminar that named “Perspectives and possibilities for educational and healthcare market in Russia”, which is to be held 26 August, 2008 in Singapore. The seminar is to be held by the Singapore Trade Chamber. For the additional information you can address by the phone 411-85-43 or making an enquiry to artemov@ex.ru, zakirova@ex.ru

17.07.2008

17 July the representatives of the National Investment Agency took part in the Forum “Trading, investment and tourism cooperation” that was organized by the Hanoi People’s Committee together with the Embassy of Socialist Republic of Vietnam and the Government of Moscow in the frames of the “Hanoi’s Days in Moscow”. During the Forum the investment projects in Vietnam were presented, a number of protocols about intensions were signed between Hanoi’s and Russian companies. The new contacts were established by the NIA representatives with business-circles as Vietnamese party, so representatives of the Russian region.

07.07.2008

The meeting took place with the representatives of the Queensland administration, Albert Cello and Andrew Craig, within the regular dialogue with Australian business-community in NIA. During the Forum different prospects and forms of mutual cooperation were discussed, as well as the promoting the Queensland companies to the Russian market and the Russian companies to Australia.

04.07.2008

01.07.2008

1 July the sitting of Subcommission for the regional development was held in the Public chamber of Russia, which was related to examine the long-time Conception for the socioeconomic development of Russia till 2020.

The representatives of 15 regions from Saint-Petersburg till South-Sakhalinsk submitted their remarks, proposals and recommendations on the content of the Conception. The maturity of elaboration the investment component of the Conception was estimated during the sitting. The representatives of the National Investment Agency (NIA) took part in the sitting. Mr. Y. Limonov, the Executive director of NIA appeared with the report that contained information about involvement of the foreign financial institutes to realize the Conception.

27.05.2008

The Experts of the National Investment Agency took part in the hearings of the Public chamber of Russia.

27 May the hearings of the Public Chamber of Russia were held that had respect to discussion about long-term strategy for the large-scale housing construction in relation of development the middle-class in Russia.

In the hearing of the Public chamber of Russia the next participants took a part: chairman of the Public Chamber Commission on the questions of region development and local government Vyacheslav Glazychev, chairman of the Public Chamber Commission on the questions of economic development and support the enterprise Valery Fadeev, deputy of the chairman of the Public Chamber Commission on the questions of local government and housing policy Oleg Alekseev.

The National Public Organization “Russian Academy of Business” on the hearings was represented by vice-presidents of “Russian Academy of Business” Ludmila Ponidelko and Georgy Belousov, and General Director of the National Investment Agency Oleg Gorbulin.

The Public Chamber Commission on the questions of region development appeared as the co-organizer of the hearings. Some reports contained information of radical kind, which are changing fundamentally the ideas about prospects and priorities of housing market development and state policy in this field.

26.05.2008

The delegation of National Investment Agency took part in the all-Russian Forum “Small and middle business is a basis of socioeconomic development of Russia in XXI century”.

26 May 2008 in Moscow the all-Russian Forum “Small and middle business is a basis of socioeconomic development of Russia in XXI century” had place.

In relation with the growing importance of small and middle business measures that support it have become the priority of the Russian government at the present day. In 2007 the new Federal law “About development the small and middle business in Russian Federation” has been admitted. Factually the acknowledge of great role of the entrepreneurship in the Russian economic development and establishment the small and middle business shows the result that the Russian Enterprise Day – 26 May, which was approved by the Decree of the Russian President dated October 18, 2007 №1381.

On the Forum the results were summarized and perspective directions were determined to establish the best conditions for the further development the small and middle business that is the crucial factor for regions economic growth, as well as for the rise of competitive ability and provision of the social stability in Russia in XXI century.