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Buryatia showed itself to the East

Republic presented its investment potential at WEF-2019

Buryatia for the first time took part in the Eastern Economic Forum, as a region of the Far East. The republic presented its investment potential, the emphasis in the presentation was on the countries of the Asia-Pacific region. The basis was large projects in the field of mining and manufacturing, textile production, agriculture and tourism. During the forum, Buryatia signed several agreements, including one of the most significant at the WEF-2019.

Buryatia showed itself to the East

Indian investment

As part of the WEF, the government of Buryatia has signed several agreements with Indian businessmen. One of them was concluded with Star Overseas Ltd, which will help build a plant for the production of infusion solutions in the republic. About 400 million rubles will be spent on the project, while half the amount will be allocated by an Indian investor, the other half by a Russian partner.

The authorities of Buryatia discussed the localization of cable production in the republic with other representatives of India. For their part, investors are more interested in the republic, as a platform with mineral deposits. After visiting the WEF, Indian Prime Minister Narendra Modi was interested in Ka-226T and Mi-171А2 helicopters of the Ulan-Ude aircraft factory.

The long-awaited GOK

For many years, the airborne construction project for the mining and processing plant of the Ozerny polymetallic deposit in Buryatia finally got a chance for implementation. On the sidelines of the WEF, the Ozernaya Mining Company and VTB Bank signed an agreement on 1,1 billion dollars for the construction of a mining and processing complex. It has become one of the most significant at this economic forum.

“The project is starting to be implemented, the development of deposits is beginning, which means it will heal and work. Thanks to this, 2,4 thousand jobs will appear in the republic. Now we need to train specialists, ”commented the head of Buryatia, Alexei Tsydenov.

The government of the republic intends to orient the investor in the implementation of the project to the maximum use of the resources of Buryatia. The authorities are ready to help in the purchase of equipment, including foreign production, as well as in training personnel for the enterprise - new specialties will be introduced in technical schools, employees for the GOK will be taught from scratch or retrained.

New Searches

Buryatia is interested in opening new enterprises and developing more deposits. To achieve these goals, the government of Buryatia and Rosgeology signed an agreement at a forum in Vladivostok to increase the volume of prospecting work in the republic. 

According to Alexei Tsydenov, there are practically no deposits left in Buryatia for mineral resources, primarily for the extraction of gold, fluorite, copper, zinc, iron, lead, tungsten, and molybdenum. Almost all of the most economically attractive deposits with proven large reserves are in a distributed fund.

“It is necessary to conduct additional exploratory work in order to confirm additional resources, put them on a balance sheet and be able to attract additional investors and create new opportunities for the republic. Already, Rosgeology has confirmed an increase in funding for prospecting work in Buryatia to 800 million rubles, ”said the head of Buryatia.

The road to Baikal

One of the important projects of Buryatia is the production of the light-engine aircraft TVS-2DTS "Baikal". In July, the Ministry of Industry and Trade and the Ministry of Eastern Development announced that together with the government of Buryatia and the Ulan-Ude aircraft factory, they will develop a plan for preparing the launch of the aircraft. Intend to establish its mass production at the end of 2022 year. It is expected that the aircraft will be in demand, since it is multifunctional - it can be used for passenger and cargo transportation, as well as for ambulance aircraft.

At the Eastern Economic Forum, Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, Yuri Trutnev, said that regular passenger traffic between the territories in the Far East should be developed using locally produced aircraft, for example, on Baikal.

“We demonstrated his prototype to the president of the Russian Federation. Together with the Ministry of Industry, we will continue to work on this aircraft, we will try to make the airlines have a new aircraft, and our transport accessibility will increase, ”said Yuri Trutnev.

Help the economy

As part of the WEF, Alexey Tsydenov signed a cooperation agreement with the chairman of the board of Rosbank, Ilya Polyakov. The document defines the general principles of collaboration for the socio-economic development of Buryatia. According to the head of the republic, the agreement will also help create comfortable conditions for business and attract more investors to the region.

“Cooperation with international companies will allow us to effectively solve current problems, set ourselves even more ambitious goals and achieve results. We are sure that the agreement with Rosbank will stimulate the interest of foreign partners in the republic’s projects and will positively affect the investment climate in the region, ”said Alexey Tsydenov.

According to the chairman of the board of Rosbank, Ilya Polyakov, the parties will pay special attention to attracting Russian and foreign private investment in the economy of the republic and the implementation of investment projects focused on the socio-economic development of Buryatia.

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