ЮГ Times. On regional authorities’ advice, local leaders have dramatically reviewed the principles of their investment policy: now modest but economically more feasible projects are coming to the foreground, says Governor of the Krasnodar region Veniamin Kondratiev.
Each municipal leader should comprehend what business activity is feasible in their territory taking into account availability of the required infrastructure, and assess its prospects bearing in mind market demands.
Q.: What are you expecting from the current Forum in Sochi?
A.: Of course, I am expecting tangible results in the form of signed contracts that will be profitable for the investors and really feasible in the region. But in the first place they should be favourable for the Kuban residents, and they should meet their needs.
This year, as usual, most of the investment offers have to do with agriculture, processing industry, tourism, and development of the region’s infrastructure. There are more than 400 offers in our portfolio – from rather small to billion wirth.
Q.: Last year, you assessed quite severely the projects presented by municipalities and instructed them to approach more carefully and meticulously the formation of proposals for potential investors. Have the municipalities fulfilled the task to have their projects thoroughly prepared?
A.: I can see the wish and readiness of the municipal heads to work in the new format. All projects we are going to present have passed the expert examination of the regional Investment Department. And, by the way, the selection process was more than tough – some proposals were sent back to rework. So the final list of projects is now almost three times smaller than last year.
Such factors as availability of infrastructure, transport, and readiness of the documents were checked.
Besides, this year we instructed the municipal heads to get the business circle actively involved in the formation of the investment agenda. Nearly 30% of the projects had been initiated by entrepreneurs, not authorities – and this is evidence of their feasibility. Where there is private money, there is a totally different approach to the efficiency of the project.
As for the question how successful the municipalities and the region on the whole will be in this new format, it would be worth answering it after the Forum.
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