The Business breakfast by the Minister of Transport of the Russian Federation was held at the forum “Transport of Russia”
The second business day of the 11th International Forum “Transport of Russia“ started with the Business Breakfast hosted by Minister of Transport of the Russian Federation Maxim Sokolov.
In his welcome address to the guests Maxim Sokolov noted that transport always played an important role in the history of Russia, and the transport industry development had a considerable potential and great importance for Russian economy. Speaking on the main topics to be discussed during the breakfast, Sokolov said that they should include the adjustment of the strategy of the Ministry of Transport, as well as the projects being part of Ministry’s development strategy after 2021.
“We are facing a serious budget deficit, and today I would like to discuss the possibilities for attracting investors to finance infrastructure projects, and the mechanisms for working with investors,” Maxim Sokolov said.
Maxim Oreshkin, Minister of Economic Development, supported the opinion of the Minister of Transport: “Infrastructure is a key pillar in economic growth, and infrastructure development must be proactive. We need to increase the volume of private financing and the number of projects that benefit the economy in general, and achieve sustainable development of the infrastructure complex.”
An example of a successful infrastructure project that may interest investors was provided by Marina Kovtun, Governor of the Murmansk region: “The project of construction of a port and a railway on the West coast of the Kola Bay is strategically important. It is a road to the future of the Arctic and a gateway to it.”
Among those who brought up the topic of infrastructure projects financing was Sergey Shvetsov, First Deputy of the Central Bank of Russia: “Today we have low interest rates and low inflation, which creates the possible availability of long-term money. Let’s not disregard the risks: infrastructure financing with high risks is impossible. Our objective for the next few years is to support institutional investors - insurance companies and pension funds.”
Petr Zolotarev, Deputy Chairman of Vnesheconombank, noted that in order to attract investors it was necessary to develop such financial instruments as long-term infrastructure bonds. “Vnesheconombank is interested in reliable partners, and we strive to be a driver for attracting investments and create an institutional investors pool.”
Anatoly Gavrilenkov, CEO of FC Leader, noted that ideally there should be a lot more infrastructure projects, than there is now, so that investors were given a choice.”
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