Expert: "The North Caucasus is a Region with Lots of Opportunities"

12 december 2016

Adviser to the Head of the Analytical Center Nurali Rezvanov believes that the North Caucasus needs to start working on creating a new brand that would stress its potential opportunities for investors. The expert declared that while speaking at the 6th Forum of the Largest North Caucasus Federal Okrug Companies.

"2 days prior to going to the Forum I had met with representatives of a German company that held agricultural fairs in a number of Russian regions and suggested that they organize a fair in the North Caucasus. They refused," Mr. Rezvanov said. In the expert’s opinion, it is high time to start working on a new brand that would send a clear message to potential investors that the North Caucasus is not a region at war but a region with a growing economy and lots of potential opportunities.

According to Mr. Rezvanov, the culture of manufacturing in the North Caucasus is changing. "When it comes to getting the investors interested, we need to show them that there are diverse businesses operating here. For example, there is a pharmaceutical company in Kabardino-Balkaria where everything is sterile clean and the overall manufacturing culture is top notch," Mr Rezvanov points out. In order to attract the investors, we need to show them we have got new business ideas and new businesses here, the expert noted.

Thanks to the state program for the development of the North Caucasus a number of social problems have been solved: the three-shift schooling is a thing of the past almost everywhere, new medical facilities have been created as well as perinatal centers. In 2017 the North Caucasus is going to adopt a new system of supporting industry, entrepreneurs, agricultural and tourist companies. "While in the first 3 years the program focused on solving social problems, now we will be subsidizing industrial companies through interest free loans," the expert stressed.

Information from TASS