VEB has reported staff changes in the Bank management structure. The organizational changes identified new handlers to supervise the Bank’s priority directions. VEB’s team was complemented with the managers competent in the Bank’s agenda. Their experience and managerial competencies will come in handy for transforming the institution set for developing and achieving the goals outlined in the President’s May Decree. The changes are aimed at increasing the Bank efficiency including its handling of problem assets.
First Deputy Chairman - Member of the Management Board of Vnesheconombank Mikhail Poluboyarinov will coordinate international activities, relations with Russian and foreign investors, VEB operations, liquidity management, attraction of financial resources at Russia’s and foreign capital markets and interbank lending.
By the decision of the VEB Supervisory Board, Mikhail Kuzovlev was appointed First Deputy Chairman -Member of the Management Board of Vnesheconombank. He will coordinate and supervise the Bank’s activities in dealing with problem assets, and supervise the activities of VEB Capital.
First Deputy Chairman - Member of the Management Board of Vnesheconombank Nikolai Tsekhomsky will control the issues of development of the Bank’s investment activities, implementation of the Bank’s sectoral business decisions, support for Russian exports, trade financing, documentary operations and export crediting.
Yuri Gazaryan, Marina Romanova and Konstantin Chagay have been appointed Vnesheconombank Deputy Chairpersons. Yuri Gazaryan will take up the issues of strategic development, coordinate efforts for the VEB development strategy and the progress of its implementation. Marina Romanova will supervise the issues of development of small and medium-sized businesses, as well as procurements of the VEB Group. Konstantin Chagay will handle the issues of transformation of the Bank and of the VEB Group.
Dmitry Kurdyukov in position of Vnesheconombank’s Deputy Chairman will coordinate the activities and exercise operational management of VEB’s subsidiaries — GLOBEX Bank and Svyaz-Bank, and supervise of their transformation.
As per other deputy chairpersons and members of the VEB Management Board, the scope of their supervision or their functional duties and responsibilities have not changed. Note, in accordance with the Federal Law “On the Bank for Development,” the VEB Management Board includes its Chairman Igor Shuvalov, and, as per by resolution of the Supervisory Board, First Deputy Chairpersons Mikhail Kuzovlev, Mikhail Poluboyarinov and Nikolai Tsekhomsky, and Deputy Chairpersons Alexei Ivanchenko, Petr Zolotarev, Andrei Klepach, Sergey Lykov and Svetlana Yachevskaya.
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REC and VEB Addressed Preliminary Results of National Project for Development of Non-Commodity Exports
The Russian Export Center made public the preliminary results of the Project Workshop set up to compile a national program for the development of non-commodity export. The venue was attended by Head of Vnesheconombank Igor Shuvalov.
He stressed that per annum $250 billion worth of non-commodity exports, as targeted by President Vladimir Putin in his May Decree, is a difficult but attainable goal. Vnesheconombank considers further increase of the non-commodity exports as one of its key priorities.
“We ought to invest into the projects that will promote the country’s economic development including our exports. In order for Russia to achieve the rate of economic growth higher than that of the world we need to conquer new markets. As regards Vnesheconombank per se and its projects, — it is rendering budget support, it is providing guarantees and insurance by the REC, and it is utilizing the facilities of the SME Corporation. Further expansion of export opportunities implies manufacture of high-quality competitive products inside Russia, creation of new jobs, and improvement of quality of life of our citizens. On Monday, the Presidium of the Council for Strategic Development and Priority Projects under the leadership of Dmitry Medvedev will be held with all these issues on its agenda,” Igor Shuvalov emphasized.
Equally essential is optimization of logistics. “Logistics is important not only for moving goods, but also for making all the necessary payments — both tax fees and customs duties, for ensuring transparent transition of goods to the territory of the Eurasian Union. First of all, we should eliminate the existing bottlenecks to secure nonstop passage of goods. This is not just exports or imports. This is foreign trade and protection of the interests of national manufacturers,” Igor Shuvalov noted.
“The tasks set by the President in the framework of his instructions for increasing the volume of non-commodity non-energy exports imply the need to further improve the existing support tools and develop new mechanisms. Adjustments of the regulatory system, too, will be required, and we should give more attention to the state budget support measures. Support of exporters is a complex task involving the institutions of growth and development, ministries and departments concerned. It will be necessary to engage both major federal and regional companies. After all, the ambitious goal to double the volume of our non-commodity exports within six years will necessitate creation of new jobs, require increased influx of foreign currency earnings, and development of associated industries in the Russian Federation. The project workshop is an open dialogue of all the parties involved in the process. It is only in such format that we will be able to work out high-quality effective development programs,” said REC General Director Andrei Slepnev.
Within the framework of the Project Workshop, three primary sectoral groups have been formed: manufacturing industry, agriculture, and services, we well as five “servicing” groups: export regulation, financial and non-financial support measures, international trade logistics, the EEU and international barriers, and the national promotion system.
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