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XII SPIEF results

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The XII St Petersburg International Economic Forum has been brought to a close. Judging by the high level of its participants, speakers and an intensive official programme, the Economic Forum that took place in St Petersburg has truly become one of the major events not only in the Russian, but also in the global economic life. It has offered an excellent opportunity of having a serious and circumstantial dialogue, and become a venue for exchange of experience and new ideas. The St Petersburg Forum has passed in an atmosphere of special mutual trust that allowed all its attendees to communicate with one another in an ambiance of cooperation and understanding.

The Forum results

Official progrаmme
Forum participаnts
Concluded agreements
Completed presentаtions
Cultural prоgramme

OFFICIAL PROGRAMME

The Forum's official programme has consisted of two working days - the international one which took place on 7 June, and the Russian day which was actually held on 8 June 2008.

2 plenary sessions have occurred within the framework of the programme. The first one included the speech made the Russian Federation President Dmitry Medvedev, as well as 11 conferences, 2 special working sessions, and 13 round tables. The total number of moderators, speech makers and discussion participants has amounted to as many as 256 persons.

The meeting of Chairmen and CEOs of 114 major foreign corporations with the Russian Federation President D. A. Medvedev has taken place on 7 June 2008, as well as their meeting with the First Deputy of the Russian Government I. I. Shuvalov. The Minister of Economic Development E. S. Nabiullina has participated in it on 8 June 2008 as well.

5 events under the Forum auspices have been held. These included the Russo-American round table ‘The Strategic Partnership Between Russia and the US in the Economics Area'; the round table ‘Financing of Innovations & The Venture Investments Market'; and ‘The Session of the Council of the Round Table of Entrepreneurs of Russia and the CIS countries'.

Some 12 halls situated in 7 pavilions at the Lenexpo Exhibition Centre, as well as the Silver Wind steamboat, have been utilized to enable them to hold the Forum's business programme events.

FORUM PARTICIPANTS

More than 10000 persons have participated in the Forum, out of whom 2360 were its actual attendees, and some 780 represented the mass media.

7 international delegations have arrived. These were The International Monetary Fund (IMF); The World Bank; The European Bank for Reconstruction and Development (EBRD); The League of Arab States; and others. In addition, there were 61 official delegations; 12 Presidents, 11 of whom were from the CIS countries and from Macedonia; there was one Vice President (Columbia); 1 Prime Minister (Bosnia & Herzegovina); 6 Vice Prime Ministers (Azerbaijan, Belarus, Moldova, Serbia, Turkmenistan, Uzbekistan); 27 Ministers, 12 Deputy Ministers, and 46 Ambassadors. There were about 600 top foreign managers. All in all, some 800 foreign attendees from 74 countries worldwide have arrived from all over the world to take part in the Forum.

Some 250 Russian representatives of various federal governmental bodies (both executive and legislative) have participated. They included the Russian Federation President, 5 Vice Prime Ministers, 7 Federal Ministers, 10 Managing Directors of federal agencies, 41 Members of the Federation Council,  55 State Duma Delegates, 53 regional political executives, as well as over 900 Russian business top managers.

CONCLUDED AGREEMENTS

23 agreements and memorandums have been signed within the Forum framework, out of which some 15 have amounted to 14, 69 billion US$. These included:

1. An investment agreement between the Russian Railway Systems (Roszheldor) and the Yenisei Industrial Company - a member of the United Industrial Corporation - to build the Kyzyl-Kuragino railway track with the view of exploring the mineral and raw materials base of the Republic of Tuva for the total amount of 131,6 billion roubles (5,6 billion US$), including the funds received from the Investment Fund and amounting to 49,3 billion roubles.

2. An agreement to create the joint enterprise Severstal-auto-Fiat to produce diesel engines between the Sollers Company (Severstal-auto) and the Fiat Concern for the total amount of 6 billion roubles (253 million US$).

3. An agreement between the PIK Group of Companies and the Maritime Façade (Morskoy Fasad) Managing Company to invest into the project of development of areas situated around the coastal zone of St Petersburg - reclamation of some 500 hectares land located at the western part of Vasilievsky Island. The overall investment amount in the project is expected to reach more than 3 billion US$.

4. An agreement between the St Petersburg Municipal Government and the Sister River Development Company to build an industrial park in the non-residential part of the Equestrian (Konnaya) Lakhta neighbourhood and begin residential housing development of an adjacent land plot. The manufacturing plant for the amount of 431 million US$ is envisaged to relocate here.

5. An agreement between the Association of Economic Cooperation of subjects of the North-West of the Russian Federation and the Price Water House Coopers Russia B.V. Company with the view of increasing an investment potential of the North-Western region of the Russian Federation.

6. A memorandum of cooperation and interaction to implement a range of infrastructural projects in St Petersburg between the Vnesheconombank and the St Petersburg Municipal Government with a view to develop the infrastructure and investment attractiveness of St Petersburg, further attraction of investments into the city economy, and an efficient fulfillment of the strategic investment projects.

7. A credit agreement between the Bank of Development & External Economic Activities National Corporation (Vnesheconombank) and the Dry (Sukhoi) OJSC for the amount of 60,5 million US$ for a term of 8 years.

8. A credit agreement between the Bank of Development & External Economic Activities National Corporation  (Vnesheconombank) and the Dry (Sukhoi) OJSC for the amount of 33,56 million Euro (51,7 million US$) for a term of 8 years. The monetary funds are to be made available for financing of the programme of development of the new kind of an aircraft known as Sukhoi Superjet 100, their certification and launch into the manufacturing production, as well as creation of the after-sale services support system.

9. A credit agreement for a term of 5 years signed between the Bank of Development (Vnesheconombank) and the United Aircraft Corporation (UAC OJSC) for financing of the project to build a range of civil aircrafts An-148, Tu-204, and Il-96 for the amount of 7,5 billion roubles (316,5 million US$).

10. An individual credit agreement between the Vnesheconombank and the Deutsche Bank AG, Germany, that envisages attraction of credit resources for the amount of 110 million US$ for a term of some 66 months for financing of the project known as the ‘Construction of a complex producing sandwich panels, metallic constructions and zincification of the metal products'. The project in question is currently undertaken and developed by the Metal-Don OJSC.

11. An individual credit agreement between the Vnesheconombank and the Deutsche Bank AG, Germany, that envisages handing of the monetary funds for the amount of 48,2 million US$ for a term of 8 years for re-financing of the credit line offered by the Vnesheconombank OJSC to the Safonovsky Svinokompleks Co.

12. A memorandum of understanding between the Vnesheconombank, the Eurasian Bank for Development (EBD), Кazyna Capital Management, Renaissance Capital Holding Limited and Macquarie Capital Group Limited. The Memorandum stipulates an intention between the aforementioned parties to invest funds into the joint infrastructural foundation - the Macquarie Renaissance Infrastructure Fund (MRIF). An initial size of the Fund will equal between 1 and 1,5 billion US$, and an anticipated part the Vnesheconombank is about to play will amount to 200 million US$. The Eurasian Bank for Development's investment share in the project will also total 200 million US$, while the Kazyna Fund will be investing up to 100 million US$.

13. A cooperation agreement between the Vnesheconombank and the Lipetsk Region Administration to create a strategic partnership for the development of long-term, efficient and mutual beneficial cooperation in the investment activities area.

14. An agreement of cooperation in an area of implementation of Kyoto Protocol provisions aimed at formation of environment protection policies and prevention of further climatic changes. This has been signed between the Vnesheconombank and the Macquarie Bank.

15. A protocol of anticipated cooperation between the Rostov Region Administration and the French Company Lafarge SA to implement an investment project of building of the cement producing facility for the total amount of 800 million US$.

16. A protocol of anticipated cooperation between the Rostov Region Administration and the Ball Packaging Europe GmbH Company to fulfill an investment project of building an industrial enterprise for production of aluminum tins used for soft drinks for the total amount of 100 million Euro (154 million US$).

17. A memorandum of cooperation between the Rostov Region Administration and the American Company Guardian Europe Sarl to implement an investment project of building a manufacturing plant for production of plate glass for the total amount of 240 million US$.

18. An agreement of anticipated cooperation between the Yaroslavl Region Government and the Glavstroi Corporation in an area of building the social and business complex and the residential housing development on site of the Yaroslavl plant of fuel equipment for the total amount of 5 billion roubles (211 million US$).

19. A protocol of anticipated cooperation between the Tver Region Administration and the Internet Logistics LLC to fulfill an investment project of building and further operation of the industrial logistics complex located in the Tver Region.

20. An agreement of cooperation between the Krasnoyarsk Region Administration and the Volga-Dnieper Group of Companies in terms of creation the Krasnoyarsk International Aviation Hub Terminal and its inclusion in the special port economic zone.

21. An agreement of the strategic partnership between the Ulyanovsk Region Government and the Volga-Dnieper Group of Companies (as per the appraisal of the Ministry of Economic Development of Russia, the total number of projects undertaken by the Volga-Dnieper Group of Companies have reached 2, 41 billion US$).

22. A memorandum of mutual understanding between the Savings (Sverbank) of Russia and the Deutsche Bank AG with the view of strengthening the bilateral cooperation and widening of a spectrum of banking services for the Russian corporative and private clients.

23. An agreement between the Rosnanotekh Group of Companies and the Intel Technologies Inc.

PRESENTATIONS COMPLETED

18 presentations have been completed:

1. Presentation of the project to found the St Petersburg International Commodities Exchange;

2. Presentation of the first flight made by the Sukhoi Superjet 100;

3. Presentation of the first flight made by the SSJ 100;

4. Presentation of the project ‘The Best Management Practice';

5. Opening ceremony of the exhibition ‘Sverbank is the Best Natural Selection';

6. Presentation of the Vnesheconombank National Corporation;

7. Presentation of the ‘Forum Close At Hand' project;

8. Presentation of a charity project ‘The Internet For Kids!';

9. Presentation of a range of events undertaken in the Sverdlovsk Region in terms of preparation and provision of the chairmanship of the Russian Federation in the Shanghai Cooperation Organization (SCO) in 2008-2009;

10. Presentation made by the Mechel OJSC;

11. Presentation of the stand ‘Welcome to the Shanghai Cooperation Organization 2008-2009!';

12. Presentation of the project made by the Sister River Development Co;

13. Presentation of the Olympic collection made by the TM BOSCOSPORT Bejing-2008;

14. Presentation of the project of building a soccer stadium in St Petersburg;

15. Presentation of the new product introduced by the Coca Cola Company;

16. Presentation of integration projects undertaken in the Sverdlovsk Region: the Titan Valley (Titanovaya Dolina) project, and the Ural Trans Continent Airport Area project;

17. The Maritime Façade (Morskoy Fasad) presentation;

18. The Radar MMC presentation,

and 19 press conferences. The closed session of the Executive Board of Directors of the Russian Venture Company OJSC has also taken place.

CULTURAL PROGRAMME

An official reception for managers of the foreign delegations has been held on 6 June 2008 within the Forum's cultural framework. This was attended by Roger Waters of Pink Floyd who later went on to play his most spectacular show titled The Dark Side of the Moon. There were opera and ballet performances both at the Mariinsky and Mikhailovsky Theatres. An official reception held by the St Petersburg Governor has taken place in the Mikhailovsky Garden. A large number of receptions for companies and organizations, as well as a great deal of events organized for the city residents have occurred while the Forum has been held.