Leaders of Chechnya and Ingushetia present economic projects to EU delegation

RIA Novisti, 16 April 2005

VLADIKAVKAZ, April 16 (RIA Novosti)—Leaders of Chechnya and Ingushetia have presented a number of projects for economic development of their republics to a EU delegation currently on a routine visit to the North Caucasus, deputy presidential envoy in the Southern Federal District, Alexander Pochinok, told RIA Novosti.

“These are feasible projects with a high economic potential,” Pochinok said.

According to him, all the projects are of a long-term nature.

Due entities have been set up in every region of the Southern Federal District to promote these projects and propose cooperation to potential investors, including from Europe, Pochinok said.

“All the projects are ready for implementation. We only need to find investors willing to put money in the development of the region,” he added.

Pochinok elaborated on the point saying that the authorities are seeking to attract both Russian and foreign investors, including investment funds and banks.

The projects in question pertain to nearly every sector of the North Caucasian economy. “In the Krasnodar Territory, for example, we are offering projects mostly in the tourism and industrial production sectors. In Ingushetia, the focus is on the construction and processing industries,” Alexander Pochinok said, pointing out that “there are projects in our portfolio to meet any business interests of potential investors.”

In his words, the administration of the Southern Federal District seeks to ensure “that the portfolio contained a wide range of projects of varying degrees of investment potential to meet requirements of practically all types of prospective investors.”