Russian Deputy Prime Minister Alexander Novak Chairs First Meeting of Caucasus Investment Forum Organizing Committee

12/01/2023

Russian Deputy Prime Minister Alexander Novak, which is in charge of the affairs of the North Caucasus Federal District, chaired the first meeting of the Organizing Committee of the Caucasus Investment Forum (CIF) in 2024. The meeting was attended by representatives of the federal authorities, the heads of regions in the North Caucasus Federal District, senior executives from major state corporations, members of business associations and public organizations, and representatives of industry communities.

Decree No. 697 of the Russian President dated 18 September 2023 “On the Caucasus Investment Forum” granted the Caucasus Investment Exhibition the status of a forum that will be held annually. In 2024, the Forum will take place in the spring in Mineralnye Vody at the MinvodyExpo Multifunctional Exhibition Centre. 

Opening the meeting, Novak thanked the organizers, members of the Organizing Committee, and representatives of agencies and companies who took part in preparations for and the work of the Caucasus Investment Exhibition and noted the high praise the event has received from the country’s leadership and the quality of the participants, including foreign ones. “The event, which took place in May of this year, generated great interest: the venue was visited by roughly 3,000 people, including managers and representatives of government bodies, industry companies, businessmen, experts, and leading media outlets. The status that the event has been granted based on the decree of the Russian president confirms its importance. In this regard, it is essential to ensure it is organized at the highest level. Particular attention should be paid to the participation of Russian regions, foreign countries, official delegations, the heads of international organizations, and representatives of the business community,” Novak said.

Adviser to the Russian President and Executive Secretary of the CIF 2024 Organizing Committee Anton Kobyakov underscored the international significance of next year’s Forum in his speech: “The first Caucasus Investment Exhibition was attended by guests from 14 foreign countries – member states of the CIS and the Caspian Five, including high-ranking officials. This shows that there is great international interest in the North Caucasus Federal District, and the region itself has enormous potential and investment opportunities. I firmly believe that the new status of the event and holding it annually will help us build a sustainable dialogue between states, businesses, and public institutions, as well as attract new investments into the country,” Kobyakov said. In addition, he commented on the proposed organizational structure of the Organizing Committee: 17 working groups are expected to take part in preparations for the Caucasus Investment Forum.

The main theme of the CIF 2024 will be ‘The Greater Caucasus: From Sea to Sea’. The proposal for the primary concept of the event is ‘Regional Development and Interregional Collaboration’. The central event of the business programme will be a plenary session devoted to interregional collaboration as a factor in the country’s economic growth.

Russian Deputy Minister of Economic Development Sergey Nazarov spoke about detailed plans for content of the programme. “The Forum’s business programme will focus on the development of domestic tourism, agribusiness, transport infrastructure, industry, energy, the banking sector, international cooperation, the humanitarian agenda, and more – anything that will ensure sustainable economic growth in the regions of the North Caucasus Federal District. The Forum will have a three-day programme: two days of the main programme, while the third day will be devoted to the youth agenda,” Nazarov said.

In addition, the CIF 2024 will include the presentation of the investment award ‘For Contribution to Economic Growth and the Development of the Investment Potential of the Russian Regions’.

The Forum’s exhibition will double in size. There will be regional stands that showcase the results of the implementation of national projects and goals, and also declare regional development plans for the period until 2030. Companies and corporations will be able to demonstrate their latest developments to CIF 2024 participants. There will be an outdoor exhibition with a special area of national farmsteads. In addition, an extensive cultural programme is being planned for the Forum’s guests, including cultural events and sightseeing trips in the Stavropol Territory and other regions of the North Caucasus Federal District.

The next meeting of the CIF 2024 Organizing Committee is scheduled for February 2024.

The Caucasus Investment Forum will be held in spring 2024 in an effort to enhance the investment potential of the North Caucasus Federal District and to ensure its sustainable socioeconomic development. The Forum will be managed by the Roscongress Foundation with the support of the Russian Ministry of Economic Development.

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