The country’s infrastructure is thirsty for investment
As part of the third day of Mosinterfin-2012, work began with a plenary strategic session “Attracting Investments in Infrastructure Projects in Russia: Actual Problems, Models of Solution”. At the same time, intersectoral sessions were held on construction projects, healthcare, energy and the jewelry industry, and the expert session “Investment climate in Siberia and the Far East: tools for global warming.”
Alla Gryaznova, President of the Financial University under the Government of the Russian Federation, First Vice-President of the International Public Organization “GUILD OF FINANCE”, said that after the 2008 crisis, the need to create a self-sufficient platform for discussing, including investment in the Russian economy, led to international financial weeks in the capital .
In a welcome letter from President of Russia Vladimir Putin to the participants of Mosinterfin, it was noted that the forum “is gaining its face and traditions, becoming a noticeable, tangible event in the life of the professional community.” The head of state also noted that “a lively, multifaceted dialogue is extremely useful for developing consolidated approaches to pressing financial and economic problems, the main of which is the development of the financial market in Russia, its integration into the global financial system, the formation of a comfortable investment climate, and ensuring global financial stability “
The President of the International “Guild of Financiers” Alexei Kudrin said that the discussion topic – infrastructure projects – is the basis for any economy, so you need to be very careful about developing proposals in this area. The moderator of the discussion, Chairman of the Board of the National Agency for Direct Investments, Igor Vdovin, raised the question for discussion quite specifically – does the state have a sound investment policy? And what can and
Do you need to do first of all, so that the economy develops in accordance with the requirements of the time?
Kudrin in this regard noted that the quality of the state’s work is very important for the attractiveness of the country for investment. The main object of investment in the Russian Federation are roads, which is not surprising in this area. At the same time, he emphasized that Russia has a huge number of zones for industrial development. According to him, in 2012, 250 billion rubles were allocated for the construction of roads, which is essentially three times less than necessary, so the question of attracting private investment in this sector is not idle. The matter is complicated by the fact that the roads in Russia are a low-cost project, and with enormous budget allocations for military needs and pension balance payments, it will not be possible to achieve it very soon. It is also necessary to attract private investment in nuclear energy, as well as in other areas – the state cannot drag the social component on itself alone. Subsidies to the constituent entities of the federation amount to more than 400 billion rubles, but at the same time, the distribution of funds does not always go adequately – underdeveloped regions may not receive money for development at all due to the total lack of readiness for it.
In general, the opinion of the participants in the discussion came down to about the same common denominator – if there is money in the country, then there is clearly not enough money for long-term investments, from which the question of the source of long money naturally arose. The discussion about whether it makes sense to use the resources of the Reserve Fund and pension savings for investing in infrastructure projects has not led to anything – this argument of the parties has been heard and is heard, but the outcome still depends entirely on political decisions.
According to the moderator of the meeting, there is no money for infrastructure in the country, but it needs to be built. Will have to do with internal resources and funds of third-party investors. Kudrin added that with a minimum payback it is quite difficult – even with what is already there, it is quite difficult to work – paid sections of constructed and repaired roads at best cover only a part of the invested funds and maintenance. While the development of a working model of investment in infrastructure projects is being carried out on the example of Rosavtodor sites.
Professor of the Russian Academy of Economics G. V. Plekhanova Alexander Pochinok separately noted that the economy itself determines where to direct the funds, since money should always be invested in the reproduction and reconstruction of existing assets. With a total shortage of funds for modernization, the solution is to send pension money to investment projects, this is normal modern foreign practice, the expert said.