At a meeting today with some members of Belgian-Luxembourg Chamber of Commerce in Russia chaired by Oleg Prozorov, BLCC CEO, Mr Evgeny Minchenko, CEO of Minchenko Consulting Communication Group, specializing in political expertise, PR and GR, shared his views and insights of current political and economic climate in Russia.
One of the points Mr Minchenko made, Russia is now focusing its economic cooperation efforts on Asia-Pacific Region nations, yet these efforts have not been exceptionally successful so far. In pursuing their major economic target of a sustainable economic growth, federal authorities promote Priority National Projects program by pumping funding and resources into major private companies and government-owned corporations. In his view, an expansion of major market players into the regional markets will accelerate, accompanied by a decline in federal subsidies to Russia’s regions, whereas a more professional and active workforce is likely to continue flowing into largest urban agglomerations, with 22.7% of the country’s population already living in big cities (of one or more million residents) and 10% in Moscow agglomeration alone.