Medvedev: New Russian agency to attract investors to regions

Russian Prime Minister Dmitry Medvedev has ordered to consider the establishment of an agency for the promotion of regional investment (RAPIR).

Russian Prime Minister Dmitry Medvedev has ordered to consider the establishment of an agency for the promotion of regional investment (RAPIR).

"I gave a special instruction the day before yesterday to consider the formation of a special-purpose entity, the Russian agency for the promotion of regional investment. In fact, this is a rather successful international practice. Many countries have such agencies. It is supposed to be a one-window service for foreign investors," Medvedev said at a roundtable of the International Investment Forum Sochi 2013.

He said the agency would focus on investors proposing medium business projects valued more than $5 million. This agency will be useful for regions, the premier said.

Beyond the Games: The 2013 Sochi International Investment Forum

This year’s Sochi International Investment Forum takes place on September 26-29 in Russia’s Black Sea resort town of the same name and host of the 2014 Winter Games. Read more>>>

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