Interview with Nikolay Pegin

Interview with Nikolay Pegin

-What is the mood today, the discussion on the sidelines… maybe a reaction to D.A. Medvedev’s speech?

Today, indeed, the situation before the forum is not very simple. A number of European countries and the United States seek to “isolate” Russia from the world. But some special historical or negligent is no background. We understand that, unlike their governments, business of these countries is willing to cooperate with us, prepared to work in Russia. Our business proposals, developed investment projects today - the strongest response on political attempt, which trying to reduce Russian economic interaction. The attempt of political pressure on us, as rightly noted by D.A. Medvedev, will get tough and adequate response. But the desire to cooperate with us, to work on the Russian market will meet no less than complete understanding. And here the role of Sochi economic platform is hard to overestimate. It is the exhibition of our capabilities, our invitation to all friends of diverse and mutually beneficial cooperation.

-You said that Sochi forum is being held in new economic complex and political conditions. As the exchange of penalties between Russia and West has influenced on the economy of the region?

-I think that is extremely slight. The fact that we minimally relied on direct credit loans, which are limited to sanctions. Our task was different: not so much to attract foreign money by the way of loans, credits, etc. but to attract for development of gigantic natural resources and logistic capabilities of reliable partners, focused on entry into the Russian market, primarily the Far East market, to work together. Until we don’t fix the decline in interest for our proposals. On the contrary, on the Investment forum, this was held in Petropavlovsk-Kamchatsky, interest become stronger. We learn how to prepare projects under the requirements of our partners, they begin to understand better  the specifics and the attractiveness of our offerings. In my opinion Kamchatka form infinitely distant and not understandable has become a business space for investor and entrepreneurs from different countries.

-In terms of sanctions Russia as a whole shifts the focus towards Asian partners, Asian financial markets. What are the prospects in cooperation with Asia you see for the Kamchatsky Krai?

-Of course due to geographic location we primarily focused on partners from the East Asia. Today this orientation, it seems to me, is deceive not only for the Far Eastern territories of Russia, but also for the whole country. There are 2 reasons : First, there are business is motivated minimally  by these or other political parts. Countries with very different political system and type of economic system actively collaborate when it makes economic sense. Economic problems are solved in the economic field. The main thing that it is a market for the whole Russia, which is not focused only in the oil and gas sector.  Secondly , today Asia Pacific, for a long time acting as the “workshop of the world”, leaving Europe as a center of consumption, which accumulate sufficient investment resources. However, opportunities for profitable investment “home” are not everywhere. It was the point when we enter the market with our offerings. This is a unique logistics capability of the Northern Sea Route and Petropavlovsk-Kamchatsky as the world center of bunkering. It is the richest possibilities of fishing and processing of fish products, it is the exploration and extraction of minerals from gold to hydrocarbons. Finally, it is incredibly beautiful natural complex of the” Valley of geysers” and the largest volcanic formations, balneological and recreational opportunities which can hardly be overestimated. And even as we managed to convince our partners  to invest in the development of agriculture of the Peninsula which can be quite profitable. Negotiations in progress  and coordination of positions with investors, both domestic and foreign from China, Japan, Korea.

- How for the past years relationship has changed with foreign investors? ( new projects with participation of foreign capital, increased investment in existing projects?).

-Attraction of investments, especially in such region as Kamchatka, the name of which for many people still a symbol of remoteness, the question is not easy and not fast. We are moving in the direction of turning of Kamchatka into the one of the most important “entry” for investors from Asia Pacific in the Far Eastern region, in Russia. During the existence of our “Development Corporation of Kamchatka”, and it is more than a year, we trained more than hundreds of investment proposals. Conducted dozens of negotiations and approvals. Today has been quite clear circle of investors, mainly from Asia-Pacific, but not only, who are ready to involve in projects on our territory. The process is going according to plan. No special “Drops” we are not celebrating. After all, businessmen, unlike some governments, understand that investments in Kamchatka is the possibility of obtaining income on a higher level than investment in the economy of so-called “developed countires”

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