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Course in Asia and interest in TORs

EastRussia correspondent - about the most interesting moments of VTB's client conference in Primorye

Course in Asia and interest in TORs
Special project TORA and Free Port

On Thursday, 21 May, an international client conference of VTB Bank "Movement to success" was held on Russky Island in Vladivostok. Ahead of time. Canceling the distance. " Heads of more than 300 companies of the Far East and top managers of the bank took part in the discussion about the challenges and opportunities of the current economic situation

Comforting forecasts

Member of the Board of VTB Bank Chaba Zentai said that there are certain industries for which new economic conditions have created the basis for development. “These are timber processing, gold mining, fish, bunkering workers, ports. These industries have mainly foreign exchange earnings, and given the sharp rise in the dollar exchange rate, they feel great, because expenses have practically not increased, and income has increased. They are lending at a frantic pace, because now is the time for their development. There are other industries that are not doing well, to put it mildly. They are trying to get their money back, and there is no question of lending, of course, ”Zentai said.

After the official discussion, Mikhail Oseevsky, VTB Deputy President and Chairman of the Management Board, told reporters that now the situation in the Russian economy is not as bad as it seemed six months ago. “Today the national currency is feeling more confident. The volume of repayments and external borrowing turned out to be noticeably less than it was expected, and the economy quickly adapted to the shock changes, which allows the Central Bank to further reduce the key rate. We expect that by the end of the year the key rate will be at the level of 10,5-11%, ”Oseevsky said.

Asian perspectives

According to him, it is here, in the Far East, an outpost for working with Asian markets, to which the focus of the interests of Russian business is shifted. According to the bank, settlements in national currency and access to Asian exchanges became even more urgent for Far Eastern enterprises in the new economic reality. The branch of VTB in China is ready to help in solving these problems.

Oseevsky noted that the ruble-yuan conversion volume for the first quarter of 2015 increased more than 6 times compared to the same period of 2014. The number of companies that open accounts in RMB has also increased. “Already, there is a reversal in the direction of rubles and yuan in foreign economic activity of both Russian and Chinese companies. At the same time, the position of Chinese companies today is largely aimed at using the dollar as a calculation tool. Our task is to educate not only Russian companies, but also Chinese partners, and in this sense our branch in Shanghai is a powerful consulting center, ”said Oseyevsky. According to him, the bank is actively beginning to lend to Russian companies in yuan, and soon, as expected, we will see loans to the Chinese company in rubles.

Participation in Far Eastern TORs

The conference also discussed the possibilities of attracting non-standard sources of financing, the issues of effective management and availability of resources for business development. Separately raised such a global issue as work in the created TOP.

"For a number of enterprises in the Far East, the additional opportunities of these territories can become a lever for development in difficult conditions. Medium business was able to adapt to them. Companies of this segment are coming out with new projects, expecting positive dynamics in the credit market, "Zentai said.

According to Oseevsky, participation in the TOP should be linked to the model that will be finally adopted. "One of the possible forms of the bank's participation is a project in the field of public-private partnership, in this model we participate in the creation of transport infrastructure facilities, engineering and social infrastructure. I hope that there will be a place for VTB Bank in Primorye to implement such an approach, "VTB Deputy Chairman explained.

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