Today the Russian Investment Forum opened in Sochi. It is one of the largest business events in Russia, organised with the participation of Russian Prime Minister Dmitry Medvedev. The forum programme included a panel discussion on “Financing infrastructure projects”. Maxim Sokolov, Transport Minister, Andrey Kostin, President, Bank VTB, Alexander Misharin, First Vice-President, Russian Railways, Sergey Kelbakh, Chairman of the Board, Rosavtodor, Sergey Romashov, Managing Partner, RISE Capital and other experts and representatives of relevant institutions took part in the discussion. Albert Yeganyan, Chairman of the Board, InfraONE, moderated the panel discussion.
The participants discussed the conditions for preparing attractive investment projects based on public-private partnerships and their financing tools. The discussion also identified the need to establish a methodology for the selection of PPP projects. Transport Minister Maxim Sokolov paid particular attention to the issue of legislative regulation of these projects and asked the audience to comment on the current risks inherent in the regulatory framework.
Answering this question, Sergey Romashov said: “Our PPP project portfolio is currently very big and includes social and transport infrastructure. We have learned to manage the legal, in terms of legislation, and economic and construction risks inherent in these projects. Of course, for each risk type we have a practical understanding of how it can be improved. However, I would not say that the current legislation is the weakest aspect of PPP projects.”
The participants of the session also discussed the development of a regulated decision-making system by the public authorities on the implementation of PPP projects. Proposals were put forward to create a single PPP “analytical centre”, which would be responsible for compliance with the procedures related to the preparation of projects at the federal level.
The Russian Investment Forum will be held in the main media centre of the Olympic Park in Sochi until 28 February.