Rustam Minnikhanov speaks at the session of the World Economic Forum in Davos

On January 23, on the sidelines of the World Economic Forum (WEF) in Davos (Switzerland), Tatarstan President Rustam Minnikhanov together with Minister of Economic Development of Russia Maksim Oreshkin, Russian Presidential Commissioner for Entrepreneurs' Rights Boris Titov and CEO of the Russian Direct Investment Fund Kirill Dmitriev spoke at the session “Keeping Russia Competitive”, which discussed the development of the Russian economy, attraction of foreign investment and the role of the regions in these processes.

Minnikhanov emphasized that the current economic sanctions have a negative impact on both sides. However, foreign companies are still working in Russia and ready to implement their commercial projects here. He gave the example of cooperation between KAMAZ Automaker and Daimler Company. This year, the companies plan to launch the joint production facility of cabin frames with a capacity of 55,000 units per year.

“Last year, at a forum in Saint Petersburg, Nizhnekamskneftekhim Petrochemical Company and Deutsche Bank signed a loan agreement for a total amount of 807 million US dollars. The funds will be allocated to the project on construction of a large ethylene complex,” he added.

Minnikhanov noted that Tatarstan has good relations with the Arab countries and Central Asian countries. “Turkey, in particular, is one of our main investors. As many as 10 large Turkish factories have been opened in the republic over the past 7-8 years,” he said.

Tatarstan President added that Kazan, the capital of Tatarstan, has been hosting a major international economic summit "Russia - Islamic World: KazanSummit" for 10 years. The forum is of great interest from Muslim countries.

During the WEF, Minnikhanov also visited the “Russian House” in Davos. The venue was established for promoting Russian initiatives among representatives of international business and official circles gathering at the forum.