SochiForum2016Let us hereby inform you that Roscongress Foundation invites partners to the Sochi International Investment Forum 2016. The main events of the forum will be held from September 29 to October 2, 2016 in the Olympic Park’s Main Media Centre.

Address: 1 Olympic Prospekt, Adler, Sochi, Krasnodar Territory

For all matters concerning the Forum, please contact the Roscongress Foundation’s Information Centre on:

Tel.: +7 (495) 640 6547

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

The Sochi Forum is a traditional platform for presenting Russia’s investment and economic potential and regional aspects of the global economy, and for boosting cooperation and strengthening ties between Russian and foreign business leaders, experts, and media representatives.

The Forum is held with the participation of the Prime Minister of the Russian Federation Dmitry Medvedev.

More information can be found on the official website of the forum http://www.forumkuban.org/en/main-page/

Passengers of cruise vessels arriving the ports of Murmansk and Arkhangelsk can now stay in Russia without visas for 72 hours in case of staying on the board of the vessel or other place according to the group tourist program.

RussiaAccording to the decree of the Russian Federation Government signed on 22 July 2016, Murmansk, Arkhangelsk and Zarubino (Port of Zarubino in Primorsky District) are included in the list of ports with allowed entry to the Russian Federation for foreign citizens and stateless persons arriving as tourists aboard the cruise vessels authorized for passenger transportation.Consequently, foreign citizens and stateless persons who visit seaports of Murmansk and Arkhangelsk in tourist groups arrived bycruise vessels have an opportunity to stay in these regions for 72 hours without a visa.

From 1 February 2002 citizens of Schengen states, United Kingdom and Japan may visit the Kaliningrad region as tourists and obtain a 72-hour visa at the border check points of Bagrationovsk, Mamonovo and Khrabrovo Airport if travelling through one of the approved travel agencies. The Russian Government was planning to cancel this service in 2015, but after appeals management of Kaliningrad region and the MFA of Russia, this possibility has been extended. Addressing parliament the Minister of Foreign Affairs reported about extension of service for 2016.

V Murmansk International Business Week (MIBW) to be held on November 14-18, 2016

Business week 2016The Government of the Murmansk region invites partners to the V Murmansk International Business Week (MIBW). The event will be held on November 14-18, 2016. It is a part of the calendar of the Russian Chairmanship in the Barents Euro-Arctic Council in 2015-2017. The V MIBW program includes a number of activities aimed at the development of interregional and international cooperation, business and entrepreneurship, support for science and education.

The central event will be the V MIBW plenary session "Arctic course". The prospects of development of international and cross-border cooperation in the Arctic, the draft federal law "On the development of the Arctic area of the Russian Federation" will be discussed within the plenary session.

The participants are representatives of the Arctic Council countries, the regions of Arctic area of the Russian Federation, the federal bodies of executive power of the Russian Federation and foreign partners interested in project development in the Arctic region.

The structure of the V MIBW program and additional information (in English and Russian languages) is available on the web-site https://minec.gov-murman.ru/activities/week/info_foreign_participants/

Russia Macro monthly report by Chris Weafer, Senior Partner at Macro-Advisory Ltd in Moscow

weafer Photo 13

Does June's GDP gain mark recovery or just the eye of the economic storm?

GDP finally positive, albeit just. June GDP grew 0.1% YoY, the first positive number for some time. Industrial output rose 1.7% YoY. Retail and construction continue to drag, but less than in 2015.

No major forecast changes. We have raised the probability for our base-case economic scenario for 2016-18 to 55% but see no reason to change any of the key forecasts.

Business confidence stays strong. Official and private business confidence indicators are in expansionary territory. The PMI services indicator is at its highest level since 2013. Survey respondents said that new business was the main driver.

Wages and unemployment look good. Real wages are up 1.4% YoY, and unemployment fell from 5.6% to 5.4%. However, real disposable incomes are down almost 5% YoY as at mid-year.

Inflation ticks negative. Inflation for the last week of July was down 0.1% due to seasonal food prices. Full year inflation has been stubbornly close to 7.3% for the past four months. The CBR, as expected, kept rates on hold at its July meeting.

Ruble did not fall with weak oil. Brent fell 14.5% in July, but the ruble conceded only 3%. That is mostly because the ruble did not rally with oil in the preceding months.

Oil looks to be range bound. The price of Brent looks set to trade in a range of US$44 to US$54 per barrel, with US shale producers now the swing producers. Saudi Arabia and Iran continue to boost output.

Russian Economic Developments - №7 - 2016

7.2016 cover.eng

Experts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №7, 2016.

Core themes of the issue:

- Macroeconomic forecast for 2016–2018: the economy is passing through the lowest point of the current crisis;
- Monetary policy of the Russian Central Bank: risks and limitations;
- There are no preconditions for the investment growth in Russia;
- Fixed capital investment in Q1 2016;
- The Russian economy in expectation of growth;
- Oil sector: potential for tax incentives;
- Russian exports to the EU: a general decline with mixed trends;
- “Anti-turkish embargo”: who lost the most?;
- Trade restrictions hamper world trade growth;
- Population’s social sentiment, Q2 2016;
- Brexit results: macroeconomic risks;
- Brexit and trade and economic relations between Russia and the UK;
- Post-brexit Britain: its relations with the EU and its future in the framework of multilateral institutions.
 

NRCC Annual report 2015, the NRCC Annual accountancy report and the auditor’s report for 2015

Annual Report 2015Dear members and partners of NRCC,

Enclosed please find the NRCC Annual report 2015, the NRCC Annual accountancy report and the auditor’s report for 2015.

We thank you all for active participation during 2015 in a challenging period in our bilateral economic relations.

We look forward to revive bilateral commercial discussions during this year’s V Norwegian – Russian Business Forum on 26 October 2016 in the facilities of the Confederation of Norwegian Enterprises in Oslo. We are presently compiling the program content, which will be listed on the website of V NRBF, www.nrbf2016.com

Keep yourself updated after summer holidays about program content, and remember to save the date already today!

We wish you all a relaxing summer holiday, and are looking forward to seeing you soon again!

Please download here the NRCC Annual report 2015, the NRCC Annual accountancy report and the auditor’s report for 2015 in PDF format.

NRCC administration.

VI annual International Conference in Murmansk "Mining Industry in the Barents Euro-Arctic Region: View to the Future” (IMIC BEAR-2016)

Specialists are kindly invited to participate in the VI annual International Conference "Mining Industry in the Barents Euro-Arctic Region: View to the Future” (IMIC BEAR-2016) which will take place in Kirovsk Town, Murmansk Region, Russia on the 17 – 18 of November 2016. The Conference Topic: «Innovations in Mining Industry & Competitiveness of Mining Companies».

The Barents Euro-Arctic Region is a strategically important sector of the Arctic, rich in natural resources, which possesses a considerable technological, scientific potential and human resources. Rich experience in the environmental anagement in the conditions of sub-arctic climate defines status of the Barents Region as a leader in the development of mineral resources of the continental part of the Arctic. Innovations are the key factors influencing the global competition and the development of a mining company in market conditions. To make the mining industry more efficient, the following is necessary:

  • Use of modern, efficient, powerful and cost-effective equipment;
  • Implementation of new technologies in mining and processing of minerals;
  • Development of human resources of mining enterprises

The Conference is held in the framework of the V Murmansk International Business Week under the auspices of the Nonprofit Partnership “Russian Mining Operators” and with support of the Government of Murmansk Region.

Organizers of the Conference:
- Chamber of Commerce and Industry of the Russian Federation
- Government of the Murmansk Region
- Kola Science Center of the Russian

Please find more detailed information in the invitation letter, which can be downloaded here.

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