The XIV International Economic Forum Russia – Islamic World: KazanForum 2023 was held in Kazan on May 18-21. The participants in the session on key aspects of organization, support and protection of investment in Russia and the countries of the Organization of Islamic Cooperation, including Russian and foreign business leaders, investors and experts, discussed the challenges facing business, the Russian Chamber of Commerce and Industry (RCCI) said in a news release.
Dr. Artem Genkin, President of the NPO Center for Protection of Bank Clients and Investors and member of the RCCI Council for Financial, Industrial and Investment Policy, spoke about the main tools and institutions for the effective protection of private investments. He stressed that Russia has drivers of investment growth that are working today despite the sanctions pressure.
“The main growth drivers are the need to transform economic ties and technological processes, the dedicated import substitution policy, and federal and regional measures of state support,” the expert explained.
Dr. Genkin also listed the measures taken to protect the rights of retail investors, in particular, the introduction of a procedure for testing investors, establishing rules for the sale of financial products and limiting the supply of complex products.
The expert cited the Central Bank’s data, which suggested that 26% of companies planned to increase their investment activity this year. He identified the main positive trends:
- positive dynamics of investment in fixed assets,
- growth of state financing of infrastructure construction,
- increasing investment in import substitution projects, and new industrial facilities within Russia.