Medvedev to Tout Investment Projects at Davos

MOSCOW, January 22 (RIA Novosti) – Russian Prime Minister Dmitry Medvedev will present several major investment projects at the forthcoming Davos World Economic Forum, including the establishment of the Russian Grids company, Deputy Prime Minister Arkady Dvorkovich said on Tuesday.

The Davos Annual World Economic Forum will be held in Switzerland on January 23-27, under the banner of “Resilient Dynamism,” to discuss measures to get the global economy back on a path of stable growth and higher employment. It will also address persistent vulnerabilities within the international financial system and measures to increase global, national and industry resilience to major systemic and catastrophic risks.

“Here [in Davos], we’ll present our new company and talk about our plans for its establishment. I mean Russian Grids, which will integrate management of the federal grid companies and regional grid companies included in IDGC [Inter-Regional Distribution Grid Company]. This is of interest to many investors,” Dvorkovich said.

The Russian government announced plans in spring 2012 to merge the country’s largest grid companies, Federal Grid Company and IDGC Holding, but later decided to establish a single management company for these operators instead.

In November 2012, President Vladimir Putin signed a decree to rename IDGC Holding as Russian Grids, and contribute the federal share package of 79.55 percent of the Federal Grid Company to its charter capital.

Russia is also ready to offer investors participation in infrastructure projects, including development of the Russian Far East, the south of Russia, the Moscow transport hub and development projects for the cities that will host the 2018 FIFA World Cup Russia, Dvorkovich said.

Russia will also offer new projects in the energy sector, where future investment amounts to hundreds of billions of rubles, and also projects in aircraft- and ship-building and agribusiness, he said.

Medvedev will outline Russia’s development prospects and the key priorities of his government at a Davos plenary session on Wednesday, Dvorkovich said.

“The chairman of the government will make a detailed report on his vision for Russia’s development scenarios, Russia’s role in the world economy and Russia’s priorities in the G20 group. He will also outline the government’s key priorities,” Dvorkovich said.

Medvedev will present three broadly negative economic threats, and explain how Russia can minimize the risks from them, Dvorkovich said.

The first threat scenario for Russia comes from possible changes in the world’s raw materials markets, he said, while the second is the risk associated with the slow pace of institutional reforms in Russia. The third scenario examines the risks of the widening regional wealth variation in Russia, Dvorkovich said.


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