Abdussamad Gamidov meets with Japan business

Makhachkala, September 1, 2014. Daghestan Prime Minister Abdussamad Gamidov met with a Japanese delegation representing the Russian "Support of Russia" NGO in the city of Fukuoka, the press service of the Daghestan head and government’s administration told RIA "Daghestan". The parties were negotiating on establishing relations between the Japanese business and Daghestan.

Welcoming the guests, Abdussamad Gamidov noted that Daghestan has had a positive experience in cooperation with foreign investors. Here, there is a good environment for successful partnership: legislative and regulatory acts are approved and each major investor work under a curator appointed by the government who controls the project from start to finish.

"Daghestan has shown good economic development. At the end of 2013, the republic was one of the leaders in Russia in economic progress, and it was the first in industrial production development. We need to keep developing, so Japan’s vast experience is critical to us as experience of a most developed economies in the world," the Prime Minister said and gave Daghestan’s investment passport to the Japanese side.

Head of "Support of Russia" in Fukuoka city Fumihiko Tamura said they pinned great hopes of developing mutual cooperation in various fields on their visit to Daghestan. "We specialize in representing Japanese businessmen’s interests in Russia and Russian businessmen’s interests in Japan. We serve as a bridge between Japanese and Russian companies, support business projects, and provide any other necessary assistance," Mr. Tamura said.

At the meeting, "Dagestanenergo" OJSC and "Japan Low-Carbon Development Co" LTD signed an agreement on establishing a joint venture. The Japanese company has developed technology of producing fuel energy from water (70% of fuel + 30% of water). This technology is of great importance for environmental protection, rational use of fuel resources, and facilitating supply of fuel in some regions. The innovative fuel called FPF (Future Perspective Fuel) is a new-generation fuel with an acknowledged status of a new oil product in the world.