Kuban remained an attractive region for business development. Investors continue to invest in the region’s economy - but their money seem not be yielding the expected effect.
These were the main ideas discussed by the workgroup ‘Honest and Efficient Policy’ of the regional branch of the All-Russia Popular Front.
We asked Eduard Kuznetsov, Executive Director of the regional branch of the Russian Union of Industrialists and Entrepreneurs and member of the regional branch of the All-Russia Popular Front, to comment on the discussion.
“One of the main strategic tasks set by President [Putin] is to ensure a 30% annual growth of investment volume in the gross regional product. In 2014, the figure was 41.9%; in 2015 - 28.3%. The estimated figure for the last year is 22.9%. At the same time, the total GRP volume was quite high - nearly 2.2 trillion rubles. It means that hundreds of billions were invested in the Kuban economy - but this money have somehow failed to work for the benefit of the region.
“The thing is that other indices of economic growth distinguished by President [Putin] were not growing. Say, working efficiency should grow by 1.9 times by January 1, 2020 - however we can see that no positive changes have even started yet. For the past three years, the region has hardly approximated the reference mark - today’s working efficiency is just 3.9% higher than it was in 2011.
“I consider that the main drawback in the partnership with our investors is a great many of administrative barriers and mandatory regulating procedures that need much time to overcome and adhere to.”
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