REC Inaugurates Its Representative Office in Shanghai

5 ноября 2018 года
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With support from Russia’s Ministry of Industry and Trade and Ministry of Agriculture, Russian Export Center (REC) will send an extensive trade mission to Shanghai, China, for 6–9 November 2018, timed to coincide with the multi-industry China International Import Expo. As part of VEB Group’s new approach to overseas operations, REC is to open its representative office in Shanghai.

REC’s trade mission will involve Director of the Information Policy and Special Projects Department of the Russian Ministry of Agriculture Dmitry Krasnov, Chairman of the Union of Chinese Entrepreneurs in Russia Zhou Liqun, Chairman of the Rusagro Board of Directors Vadim Moshkovich, Vice-President of China Chengtong International Billy Tai, Director of the Industrial Policy Department of the Eurasian Economic Commission Nikolay Kushnarev, Director of the Centre for Cooperation with Chinese Regional and Professional Associations Asel Smolyar and representatives of the companies involved in the trade mission.

The mission programme includes the panel discussion ‘Russia-China. Practical Cooperation: A Form of the Efficient Development of Trade and Economic Relations’, the round-table discussions ‘Tourism as a Driver of Economic Growth’ and ‘Efficient Tools to Enter the Chinese Agribusiness Market’, pitch sessions across a variety of sectors and industries and B2B meetings where Russian participants will have an opportunity to network with potential partners in China.

During the Russian delegation’s visit to China, REC will also announce the opening of its Shanghai representative office, which is to become an additional instrument for promoting Russian exports to the Chinese market.

‘The Russian Ministry of Agriculture and REC have jointly inaugurated a designated showroom for agribusiness companies. Showrooms, promotion, marketing, assistance in finding potential buyers and support for promo events are all on a fee-free basis,’ Andrey Slepnev, REC’s Director General, said.

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Vnesheconombank Group to Support Russian Participation in China’s First International Import Expo

2 ноября 2018 года
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A total of over 100 Russian companies will take part in the first China International Import Expo (CIIE) and the related trade mission. Represented by Russian Export Center, Vnesheconombank Group will organise Russian showrooms.

“Faced with the task of increasing non-resource exports, we not only have to break into new export markets but also need to create more opportunities to boost exports to traditionally attractive and lucrative markets such as China. We expect that China will continue to be Russia’s main trading partner. Russian non-resource non-energy exports to China have been on the increase since 2014. The main contributors to the growth include metal production, agribusiness, pulp production, power engineering and instrument engineering,” Russian Export Center’s Director General Andrey Slepnev said.

Russia will participate in five business exhibition areas: food and agricultural products, high-technology equipment, medical equipment and goods, services, consumer goods. Russian agricultural producers, occupying half of all exhibition spaces, have shown the greatest interest in CIIE.

“China International Import Expo is also a platform for expanded cooperation and common approaches to joint projects. Integration processes in Eurasia can increase markets, boost bilateral trade and enhance the competitiveness of national economies. In this regard, China is a strategic partner of all entities of Vnesheconombank Group. Our cooperation is not only about promoting Russian Export Center-supported exports but also about encouraging Chinese investment in development projects in Russia as part of the EurAsEC and Belt and Road initiatives. In this regard, our partners in China are China Development Bank, China Eximbank, Harbin Bank and several other financial institutions,” Vnesheconombank’s Chairman Igor Shuvalov said.

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Russian Companies Supported by VEB Group Exhibit Their Goods at China International Import Expo

2 ноября 2018 года
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Over 100 Russian companies will participate in the first China International Import Expo and in the business mission timed to coincide with the event. VEB Group represented by Russian Export Centre (REC) organizes the Russian exposition.

“Given the priority objective of increasing the amount of Russian non-commodity exports, we not only should capture new export markets but also try to scale up exports to traditionally attractive and thriving markets, such as China. We expect that China will retain its position as Russia’s main trade partner. Since 2014, Russian non-commodity non-energy exports to China has been posting a steady growth. The growth leaders include steel industry, agriculture, paper and pulp industry, power engineering and instrument engineering,” said REC Director General Andrey Slepnev.

Russia is involved in five industry zones: food and agricultural products, high-technology equipment, medical equipment and products, services sector and consumer goods. Russian agricultural producers expressed the strongest interest in CIIE and occupied 50% of the exhibit space.

“China International Import Expo is also a platform for promoting cooperation and developing common approaches to joint projects. Integration processes across Eurasia help to scale up markets, boost mutual trade links and enhance the competitive edge of national economies. In this context, China is a strategic partner for the whole VEB Group. Russian-Chinese cooperation implies not only export encouragement with the support of Russian Export Centre but also Chinese investment for Russian development projects as part of EEU and One Belt One Road initiatives. Our strategic partners in China are China Development Bank, Export-Import Bank of China, Harbin Bank and a number of other financial institutions,” said VEB Chairman Igor Shuvalov.

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InfraVEB Director General Dmitry Tvardovsky Participates in Made in Udmurtia Forum

2 ноября 2018 года
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On 1 and 2 November 2018 Izhevsk hosted the Made in Udmurtia Forum organised by the Government and the Ministry of Economic Affairs of the Udmurtian Republic. The Forum brought together over 1,000 business people and government officials to discuss the business climate in the region and how to improve it.

Dmitry Tvardovsky, Director General of InfraVEB, took part in the Forum as an expert in the roadshow for PPP and concession projects to be implemented in Udmurtia and as a speaker in the round-table discussion ‘Regional PPP Breakthrough: From Project Preparation to Launch Success’. He spoke about challenges faced by the regions while launching PPP projects and specified the role of Vnesheconombank and InfraVEB in tackling these issues.

Tvardovsky pointed out that, according to the National PPP Centre, the regions signed only 36 concession agreements worth over 10 billion roubles in 2005–2017. Currently, the demand for infrastructure investment substantially exceeds the supply of high-quality projects. Furthermore, the regions are facing the challenge of PPP project preparation. Most regions lack both the resources required for proper preparation and competencies to select a PPP project model regarded as attractive and well balanced by project participants. Moreover, the problems confronted by the regions also include a small number of financially sound building contractors and almost a complete lack of major operators ready to be involved in PPP projects.

Tvardovsky said that the role of Vnesheconombank and InfraVEB in preparing PPP projects is primarily to perform the expert examination of projects and select those eligible for participation. In addition, Vnesheconombank and InfraVEB are engaged in preparing concept projects, fine-tuning immature projects, encouraging equity investment in early-stage SPVs (including PFIs), providing syndicated finance etc.

Major PPP projects are mostly federal transport projects viewed by Vnesheconombank and InfraVEB as having the considerable potential for investment.

According to Tvardovsky, the market is likely to gain new impetus through the implementation of PPP projects across a range of the following areas: retirement homes, smart city projects and, in general, the IT sector.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

2 ноября 2018 года
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Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 31 October 2018.

The Bank raised 5 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

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Development Institutions’ Leadership Team Headed by Igor Shuvalov Evaluates High-Potential Projects in Yaroslavl Region

1 ноября 2018 года
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Назад

Representatives from VEB, SME Corporation, REC and DOM.RF made a field visit to the Yaroslavl Region. The principal goal of their meeting with the Yaroslavl Region Governor Dmitry Mironov and local entrepreneurs was to identify priority projects requiring concerted promotional efforts of the development institutions. VEB coordinates this work, which facilitates the search for efficient solutions in each specific case.

Along with discussing potential investment projects, the delegation visited R-Pharm’s innovative Pharmaceutical Complex for Production of Finished Dosage Forms in Yaroslavl, and an apartment house built using 3D construction printers of a Yaroslavl-based company, SPETSAVIA.

‘For all regions, the key growth drivers include development of state-of-the-art technology, quality changes in urban environment, and laying groundwork for comfortable living. It is a complex task, which requires involvement from the government represented by development institutions at various stages. Competencies of our colleagues at DOM.RF augmented with the tools offered by SME Corporation can boost the construction of such facilities and reduce red tape. And the Russian Export Centre can facilitate companies in entering new markets,’ said VEB Chairman Igor Shuvalov. ‘It is precisely this synergetic effect that we have in mind speaking of coordinating state development institutions’ efforts.’

On that front, VEB Group has already engaged in promoting the regional tourist infrastructure by financing the Golden Ring Resort Project. The project has been actively implemented since autumn 2016 benefiting from VEB and its companies’ support. The 30-hectare resort comprises 353 rooms of hotel facilities, 26 chalets, a spa and sports facilities. Azimut Hotels, a professional hotel operator, is the manager of the resort.

‘The Yaroslavl Region can already boast a number of major projects successfully delivered in partnership with VEB,’ said Dmitry Mironov, Governor of the Yaroslavl Region. ‘To illustrate, the Golden Ring tourist and recreation resort has already welcomed its first guests. Today, we have presented new innovative projects designed not only to promote the local industry but also present best practices in tourism, agribusiness and other sectors. Undoubtedly, today’s visit will open a new page in the relations between the Yaroslavl Region and VEB.

Summarizing the results of the meeting, VEB Chairman Igor Shuvalov and Governor Dmitry Mironov reaffirmed their commitment to further cooperation between VEB Group and the Yaroslavl Region in developing the local economy.

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Team of Development Institutions’ Heads Led by Igor Shuvalov Appreciates Prospects for Yaroslavl Region Projects

1 ноября 2018 года
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Назад

Representatives of Vnesheconombank, Russian Small and Medium Business Corporation, Russian Export Center and DOM.RF have visited the Yaroslavl Region. The meeting with the Governor of the Yaroslavl Region, Dmitry Mironov, and local entrepreneurs was aimed primarily at identifying projects that should be given priority by development institutions providing joint support for their implementation and development. Vnesheconombank coordinates this work, which makes it possible to find effective solutions on a case-by-case basis.

Apart from discussing potential investment projects, the delegation visited R-Pharm’s Yaroslavl-based innovative pharmaceutical facility producing finished dosage forms and a house built using construction 3D printers of a Yaroslavl-based company, SPECAVIA.

“Developing innovative production technology, causing qualitative changes to the urban environment and creating the conditions for comfortable living are among the key drivers of the development of any region. The task is complex and needs the involvement of the government through development institutions at different stages. The competencies of our colleagues from DOM.RF, along with the tools of RSMB Corporation, are able to intensify the construction of such facilities and minimise bureaucratic barriers. Russian Export Center can help the company to enter new markets,” Vnesheconombank’s Chairman Igor Shuvalov said. “This is the synergistic effect that we have in mind when we speak about the coordination of how governmental development institutions operate.”

Vnesheconombank Group has already contributed to the development of Yaroslavl Region’s tourism infrastructure by participating in the Golden Ring Resort project. Vnesheconombank and its entities have been active in carrying out the project since the autumn of 2016. The 30-hectare resort comprises 353 hotel rooms, 26 chalets, a spa and sports facilities. The resort is managed by a professional hotel operator, Azimut Hotels.

Dmitry Mironov, Governor of the Yaroslavl Region said: “There are already several successful significant projects completed in cooperation with Vnesheconombank in the Yaroslavl Region. For example, Golden Ring Resort, which has already begun to receive its first guests. Today we presented new innovative projects aimed not only at support for the regional industry but also at know-how in the tourism, agribusiness and other industries. I am confident that today’s visit will open a new page for the relationship between the Yaroslavl Region and Vnesheconombank.”

Following the meeting, Vnesheconombank’s Chairman Igor Shuvalov and Governor Dmitry Mironov confirmed their intention to continue cooperation between Vnesheconombank Group and the region in the economic development of the Yaroslavl Region.

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Vnesheconombank’s Supervisory Board Meets in Regular Session

30 октября 2018 года
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Opening remarks by Dmitry Medvedev:

We are having a regular meeting of Vnesheconombank’s Supervisory Board today, rather an important meeting.

To begin with, last week’s meeting of the Presidential Council for Strategic Development and Priority Projects dealt with involving state corporations in efforts to achieve the national development goals. The President spoke about this. The colleagues also discussed this topic. Today we will discuss Vnesheconombank’s role in tackling these issues.

This makes it necessary that all development institutions whose formation used Vnesheconombank’s resources or participation should work closely with one another. This applies to all entities. It is important that, in the current configuration, they should act as one, providing support for investment projects that are high on the agenda for the country’s development.

There are also proposals to improve the efficiency of the entire system of development institutions and the coordinating role of Vnesheconombank in this context. This concerns modern platform solutions that will ensure the achievement of results horizontally.

For its part, the Government will continue to provide Vnesheconombank with the necessary support. In this respect, this meeting is key to Vnesheconombank’s activities. The latest meeting of the Government approved amendments to the budget of this year. The point is that Vnesheconombank will additionally receive money to pay some expenses of servicing its foreign loans. In addition, within five years, Vnesheconombank will be able to participate in development projects worth 3 trillion roubles, and in partnership with commercial banks, even greater investments can be made in the national economy, maybe three or four times as much as the initial amount, and this will be done on a repayable financing basis.

To improve Vnesheconombank’s efficiency, it is necessary to reinforce its financial model. This concerns the long-term settlement of its external debt. It is intended that 600 billion roubles in subsidies will be used for this purpose before 2024. Furthermore, an approach was developed to providing 300 billion roubles for Vnesheconombank’s additional capitalisation through a new mechanism, so-called «approved capital». This is the part of the share capital that can be provided when investment resources are required. This model is not yet specified in our legislation, which is why the Ministry of Finance prepared legislative amendments.

I have just signed the decision on an agreement with Vnesheconombank to provide federal subsidies in the form of property contributions to pay some expenses associated with its obligations for foreign loans. Therefore, I would like to ask that this ordinance of the Government should begin to be implemented in the near future.

There is another proposal; at first glance, it is of formal but, anyway, rather important nature. This concerns the name of Vnesheconombank. The proposed name is State Corporation «National Development Institution VEB.RF». It is not simply a matter of renaming the organisation; this reflects the role of Vnesheconombank (in fact, Vnesheconombank is primarily a development institution rather than a bank) and the tasks assigned by the President and the Government to Vnesheconombank.

We will consider the entire package of initiatives at the next meeting of the Government in order to continue with this work at the State Duma.

As usual, specific investment projects are on the agenda. For instance, the construction of two Aframax large oil tankers at the Zvezda shipyard. They use NGV fuel and meet the strictest environmental requirements of international conventions. In fact, this establishes a new standard of safety and quality in the global shipbuilding industry. This is an example of a modern approach to shipbuilding.

I hope that we will be able to compete with leading shipbuilding countries in this area and take the lead in forming promising international transport corridors. Vnesheconombank is to invest about 12 billion roubles in the project.

A whole range of other decisions also needs to be considered. Let’s get started.

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Vnesheconombank Finances Export of Russian Farming Equipment to Mongolia

26 октября 2018 года
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Vnesheconombank and the Development Bank of Mongolia have entered into two credit facility agreements for a total of 8.4 million euros to finance an export project to supply Russian-made farming equipment to Mongolia, with the first disbursement of 5.2 million euros.

The credit facility agreements were signed on behalf of Vnesheconombank by its Deputy Chairman Daniil Algulyan and on behalf of the Development Bank of Mongolia by its First Deputy Chief Executive Officer Chuluunbat Enkhbat.

The export project involves Russia’s leading suppliers of farming equipment, such as Rostselmash, Klever, Voronezhselmash, and Veles. Mongolia is to receive as many as 240 units of new farming equipment, including combine harvesters, energy-efficient tractors, self-propelled mowers etc.

The transaction is part of ongoing intergovernmental cooperation in agriculture between the Russian Federation and Mongolia. A similar transaction was previously completed by Vnesheconombank in collaboration with the Development Bank of Mongolia in 2017.

The Development Bank of Mongolia was established in 2011 pursuant to a resolution of the Government of Mongolia. The sole shareholder is the Government of Mongolia. The Bank’s activities are governed by the Law on the Development Bank of Mongolia. The Bank focuses on financing for development projects of commercial and social value.

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Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

26 октября 2018 года
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Назад

Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 24 and 25 October 2018.

The Bank raised 40 billion roubles, including 20 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a. and 20 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

Назад

Short-Term Exchange-Traded Bonds Issued by Vnesheconombank

26 октября 2018 года
#News
Назад

Vnesheconombank issued short-term bonds in an additional placement to companies and corporations on 24 and 25 October 2018.

The Bank raised 40 billion roubles, including 20 billion roubles from bonds with a maturity of 14 days and a coupon of 7.27% p.a. and 20 billion roubles from bonds with a maturity of 21 days and a coupon of 7.27% p.a.

The par value of one bond is 1,000 roubles. The bonds were sold at 100% of their par value. The coupon is payable at maturity.

The arrangers of the bond issue are Gazprombank and Svyaz-Bank.

The bonds are on the Moscow Exchange’s Quotation List Level 1. The depository is National Settlement Depository.

Назад