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Metalloinvest is a leading global producer and supplier of hot briquetted iron (HBI) and iron ore products, and a regional producer of high quality steel.
Andrey Varichev, Executive Director and CEO, Management Company METALLOINVEST LLC, member of the RSPP Board made a pitch for greater investment in Russia during the Eastern Economic Forum.
He began with stating that attracting foreign investment in Russia is crucial in the context of economy slowdown and negative market conditions. The investment would help Russia to modernize economy and develop a new technological mode. In this respect, Russia has a stake in the way the Asia-Pacific economies are managed, especially Japan and South Korea, whose economic growth is based on innovations.
Varichev pointed out that the State and business have unique possibilities to create industrial cluster and develop various deposits in Russia’s resource-rich Far East region.
He said that the Asia-Pacific partners are also encouraged to partake in projects in agriculture, medicine, urban infrastructure and automotive.
Moreover, Varichev highlighted successful projects that are being implemented by the company and foreign partners. Thus, the company is actively engaged in dialogue with Primetals Technologies, Hitachi and Komatsu. For instance, the latter two companies deliver high-performance equipment for Metalloinvest.
Metalloinvest develops unique Udokansky copper deposit in Zabaykalsky Krai where reserves reach 15 mln tons of copper. The project arouses considerable interest among financial institutions and engineering companies in the Asia-Pacific region.
Varichev also stressed that Russia is implementing measures to form part of group of 20 countries with the most favorable environment for entrepreneurship by 2018.
In order to develop trade ties with the Asia-Pacific countries and increase investment attractiveness RSPP established National Coordination Centre for Developing Economic Cooperation with the Countries of Asia-Pacific Region.
The Centre comprises all leading business associations, including Delovaya Rossia (Business Russia), Chamber of Commerce and Industry of the Russian Federation; representatives of large businesses like Rusal, Bank for Development and Foreign Affairs (Vnesheconombank), VTB and many others.
Its aim is to reinvigorate economic ties and provide substance to the discussion on economic issues with the Asia-Pacific countries through multilateral and bilateral formats.
In conclusion, Varichev briefly described the major activities of the National Coordination Center and invited all interested Russian companies and the Asia-Pacific partners to cooperate.