Welcome address of the Governor of Kursk region to participants of the Mid-Russian Economic Forum

Kursk region is one of the Mid-Russian regions on the map of the huge Russia. We are proud of the glorious past and centuries-long history of our small motherland. The region combines rich natural resources beyond compare both in the size and variety, a favorable geopolitical location, and a well-developed transport infrastructure.

The region developed a social and economic development strategy till 2020 and is implementing a medium-term social and economic development program for 2011-2015. The regional area planning scheme has been approved.

The regulatory environment of the region meets many of the contemporary business issues making the region highly attractive for the Russian and foreign investors.

I am pleased to state that, according to the Ministry of Regional Development of the Russian Federation, the region does well in many aspects of the social and economic development being among the leaders in some cases. We certainly face challenges, too, which hinder our efforts to speed up our development momentum.

One of our fundamental issues is that the lack of diversity in the regional economy which to a large extent depends on the iron ore extraction and generation of electric power by the Kursk nuclear power station.

This is why active modernization of our economy and development of processing industries is of highest priority for us.

We are closely examining the experience of the neighboring regions succeeding in diversifying their economies. It is obvious that the Mid-Russian regions share many problems. Most of them are similar in having rather old industrial capacities with outdated technologies demanding heavy investments. We will have to learn to work in the new reality after Russia’s accession to the WTO. The regions also share the challenges of training skillful specialists for the contemporary economy, increasing the prestige and appeal of blue-collar occupations and engineering jobs. Solving these issues, we could upgrade all spheres of our economies and achieve new quality with advanced developments and ideas.

Competing against each other for investors, regions offer them as many bonuses and preferences as they can. In the global economy, however, it is not only incentives that pave the way for success. We know major holdings to do well in several regions at once even with different economies and legislations.

We should take note of business expectations when establishing relations between authorities of various levels and in various areas. I believe it is of utmost importance that we focus on how regional governments may work together to develop our local markets and enhance the inter-regional cooperation.

I am pleased to invite heads of the Mid-Russian regions, private businessmen from Russia, the CIS and other foreign countries to take part in the Mid-Russian Economic Forum which will take place in Kursk on June 15-16, 2012, to discuss the search for modern approaches towards interaction of the official authorities and the business community for the modernization of our economy.

I hope that the forum will reveal best practices in attracting investors and activity of the regional development institutes, offer new opportunities, new regional markets and new partners for the business community and discover new approaches towards cooperation of regional governments.

The Mid-Russian Economic Forum will coincide with the 12th inter-regional universal wholesale and retail trade fair KURSK KORENSK FAIR 2012. The forum participants will have an opportunity to attend the events of the Fair, to participate in the religious procession with the miracle-working Icon “Znamenie” of the Virgin, to enjoy the sights of Kursk region.

I am positive that the meetings and negotiations during the forum and the trade fair will bring about new initiatives, successful business contacts and promising, mutually beneficial projects in Kursk region and other Mid-Russian regions.

Alexander Nikolaevich Mikhailov,
Governor of Kursk region