Russia’s media holding Expert has published its first English language economic edition “to raise awareness of foreign businessmen about the status of the investment climate” in Russia, the holding said.
The first English edition of the magazine includes articles about the investment attractiveness of the Tatarstan and the Bashkortostan republics on the Volga, in the Sverdlovsk region in the Urals, the Yamalo-Nenets autonomous region in the country’s north, the Altai region in West Siberia, and the Magadan and Khabarovsk regions in Russia’s Far East.
The edition also has an investment review of Russian companies for 2011-2012 and an article of Russian Economic Development Minister Andrei Belousov about the investment climate in Russia, Expert reported on its website, adding that the magazine would be also presented on international economic forums.
Heavily reliant on raw material exports, primarily oil and gas, Russia has been pushing for economic diversification for two decades, trying to promote more complex production and greater value adding.
The strategy has been heavily reliant on attracting private, particularly foreign investment, with the government seeking to reduce the size of its presence in the economy, to develop new plants, logistics chains, and RD capacity. The volumes of capital required to overhaul and modernize production are too great to be left to the state.