Trade Mission to Stavropol Krai
By Anna Ganeeva
June 16, 2004
AmCham Companies Investigate Investment Opportunities in Southern Russia
In June, AmCham President Andrew Somers led a Business Development Mission comprised of senior management from member companies 3M Russia, Hewlett-Packard, Johnson & Johnson, Renaissance Capital Asset Management, RosInter Restaurants, Sodexho, Sun Microsystems AB and Qualcomm Incorporated to Stavropol Krai.
During its one-day mission, the delegation met with Governor Alexander Chernogorov and key administration officials. Members also attended a business forum, organized by the Stavropol Chamber of Commerce, which featured remarks by Vitaly Nabatnikov, president of the local Chamber of Commerce, Viktor Milenin, first deputy minister of economic development and trade, and Somers. AmCham members had the chance to discuss the local business environment with management from 36 enterprises representing an extensive range of sectors, including energy, agriculture, metallurgy, chemical production, telecommunications, construction, pharmaceuticals, IT, transportation, food processing and food services.
Governor Chernogorov spoke about the region‘s development and investment potential, highlighting the success of foreign companies already operating in Stavropol Krai. He also enumerated on local legislation and government decrees, which combine to make the Krai one of Russia‘s top ten regions for investment.
Some 30 individual meetings with local officials and potential business partners in the community were arranged.
Development and Investment Potential:
Over $34 million in trade turnover with foreign countries, of which $22 million is with the United States.
Volume of investment projects is about $1.5 billion.
Over 400 enterprises with the participation of foreign capital.
The Duma passed a package with 15 decrees geared to improve the investment climate in Stavropol Krai (details available at www.stavinvest.ru/rus/invlaws.html).
Stavropol Krai was ranked third in an Expert magazine survey according to the attractiveness of investment legislation.
Stavropol Krai is among the ten most attractive regions for investment in Russia.
