Realizing the Economic Potential of Russia
Panel Session
Congress Centre, Conference Hall D1

In fast-growing economies, the main sources of economic growth are domestic and private investment. Corporate profits, private savings, and state and non-governmental pension funds can all be more effectively channelled into financing productive elements of the Russian economy, providing needed corporate and infrastructure funding while enhancing productivity. What mechanisms should the government and regulators consider for facilitating safe deployment of domestic savings into return-generating ventures? Should the corporate bond market or other alternative investment instruments be developed further? What is the role of investment in diversifying the economy and which sectors can demonstrate the greatest potential?

Alexey Kudrin , Chairman of the Board, Center for Strategic Research Foundation; Deputy Chairman, Economic Council under the President of the Russian Federation

Alexander Afanasiev , Chairman of the Executive Board, Moscow Exchange
Oleg Buklemishev , Director, Center for Economic Policy Research Economic Faculty of Moscow State University
Drew Guff , Managing Director, Founding Partner, Siguler Guff & Company
Dmitriy Mints , Member of the Board of Directors, O1 Group
Alexey Mordashov , Chairman of the Board of Directors, Severstal
Sergei Morozov , Governor of Ulyanovsk Region
Mikhail Shamolin , President, Chief Executive Officer, Executive Board Director, Chairman of the Management Board, Sistema
Sergey Shvetsov , First Deputy Governor, Central Bank of the Russian Federation


Key moments

The solutions that can provide for an increase in investments in the economy are an increase in population mobility and an increase in access to skilled manpower.
Sergey Shvetsov
Each region should concentrate on the specific competences in which it is strong and which it can provide with good manpower and good stable legislation, so that no investors encounter problems. This also includes high-quality state governance, advanced legislation and availability of the requisite infrastructure. And all this forms the conditions for investments to grow.
Sergei Morozov
All our investments must be more productive. Only then will we be able, step by step, to achieve competitiveness and to offer the same competitive goods in the foreseeable future.
Alexey Kudrin
Large-scale privatization of major state companies is required, since the level of efficiency from the perspective of revenues per employee is exceptionally low in the current system.
Mikhail Shamolin
Russian metals companies are competitive in terms of quality and product range, as well as by virtue of their low production costs.
Alexey Mordashov
The practice of withdrawing pension accumulations must be stopped and these funds returned to the market, since pension funds are precisely the monies that have the first opportunity to become long-term investments and go into projects.
Mikhail Shamolin
Severstal’s main investment in the future will be made in creating value added products, a client service and further cuts in costs. At the same time, we do not intend to invest in any substantial increase in capacity, as has been the case for the last 15–20 years, in view of the shortage of demand.
Alexey Mordashov