Marina Zheynova: Holding of International Investment Forum in Republic will contribute to DRP’s integration with Russia
The Donetsk International Investment Forum is planned to be held in the Republic’s capital from 29 to 30 October. The Chairman of the People’s Council’s Committee on Budget, Finance and Economic Policy Marina Zheynova described measures undertaken to increase DPR’s investment attractiveness in an interview to an official website of the Donetsk People’s Republic.
ʺInvestments are becoming the most vital tool for ensuring the economic development of the Donetsk People’s Republic, structural changes in the industrial complex, introduction of the latest technological advances and improvement in the quantity and quality of business activities at all levels in the current circumstances.
It is necessary to have an appropriate legislative mechanism, management decisions on the part of state leadership, as well as institutional changes in order to effectively attract investments in the Donetsk People’s Republic and improve the investment environment. This will allow achieving high rates of economic growth in the Donetsk People’s Republic.
The DPR’s Ministry of Economic Development has developed a number of normative legal acts in order to create a favorable investment climate. For instance, draft laws “On investment activity”, “On social and economic partnership”, “On foreign investments in the Donetsk People’s Republic” and others.
In addition, the People’s Council’s Committee on Budget, Finance and Economic Policy is working on a draft law on state support for investment projects aimed at resolving investment relations in the territory of the Donetsk People’s Republic and which includes measures for state support for investment projects.
A draft roadmap for the development of the investment attractiveness of the Donetsk People’s Republic has now been developed. It includes measures to improve regulatory environment, attract investments, finalize an investment passport, as well as measures to improve an investment portal. It is also planned to participate in various forums, conferences and exhibitions.
As part of the activities of the Integration Committee “Russia – Donbass”, a number of agreements on reciprocity and cooperation in social and economic, historical and cultural, educational and other spheres have been signed between cities and regions of the Russian Federation and Donetsk People’s Republic,ʺ the deputy said.
The deputy underlined that the holding of the International Investment Forum in the DPR would allow the strengthening of agreements reached during an economic forum in Yalta, in which representatives from the Republic took part.
ʺThis event will help to strengthen the course of integration with Russia, expand the market for products produced in the DPR, the reorientation of production to the Russian market. It is planned to work in the following directions: the creation of a positive investment climate, scientific, educational, environmental and agro-industrial complexes and cooperation of the Republic with regions of the Russian Federation.
Even though we have not been politically recognised yet, the holding of the International Investment Forum in the DPR is already a de facto recognition. Preventatives of business associations and entrepreneurs from the United States, the European Union, Syria, far and near abroad, including from the Russian Federation, Abkhazia, South Ossetia and, of course, Lugansk People’s Republic will take part,ʺ Marina Zheynova summed up.