Dagestan minister of trade, investment and businesses meets with Japanese investors

Makhachkala, September 14, 2015. Yesterday, Dagestan minister of industry, trade and investment Yussup Umavov chaired a meeting with the Japanese investors, the ministry press service reports.

The chairman of the organization "Support for Russia Fukuoka» Tamura Fumihiko, CEO of "Dagestanenergo", a special adviser to the organization “Support of Russia Fukuoka” Magomed Aliyev, the executive director of the organization "Shibata Toshio" Inga Kravets, the university professor, "Nakamura" Masaya Obe, the representative of the "Furukawa Company Limited" company Yoshimasa FukasakuThe presented the Japanese delegation.

At the beginning, the guests watched a film illustrating the investment potential of Dagestan. Yussup Umavov informed the Japanese colleagues about support measures provided by the state; the changes in the legislation of the Russian Federation in the field of public-private partnerships offer additional opportunities for the investment in the republic.

Taking into account the interest and the geopolitical location of Dagestan, the Japanese investors expressed interest to cooperate in the field of medical technology, transport logistics and energy. Besides, the guests received the catalogs of investment projects and investment passports of the Republic of Dagestan to review the investment potential of the region.

The parties noted that the interest of Japanese investors in Dagestan was really enormous. Trade turnover between Dagestan and Japan for 2014 made about 300.61 thousand dollars. Imports of transport vehicles, rubber products, plastic products, equipment, glassware and tools prevails in Dagestan. In the first half of 2015 the turnover amounted to 10.97 thousand dollars (imports).

Following the meeting, Dagestan officials noted that in the current economic realities, the Republic of Dagestan pays special attention to the cooperation with investors in Eastern and Southeast Asia, and creates favorable conditions for investment activity in the region that contribute to the interest of Japanese corporations. One of the prospective direction of interaction with potential investors will become the creation of a joint venture between the "Dagestanenergo" LLC (the Republic of Dagestan) and the “Japan Low - Carbon Development Co. Ltd.” (Japan).

Noteworthy, the meeting was attended by the deputy Chairman of the Agency for Energy of the Republic of Dagestan Magdi Gitinov, the deputies Minister for Industry, Trade and Investment RD Alexander Galmukov and Maksud Musayev, the head of investment policy department of the Ministry for Trade and Investment policy Madina Kaibova and others.