The authorities of Kuban do not see any prospects in holding the Forum in Sochi in 2020

The authorities of Krasnodar region do not see any prospects in holding the Russian Investment Forum (RIF) in Sochi in 2020 under the current circumstances. Vitaly Voronov, Chief of the investment and SME development Department of the region of Kuban, commented he situation during the online conference.   

Thereby, he underscored that the final decision on holding the Forum will be taken by the hosting Foundation «Roscongress» since the authorities of Kuban serve as the receiving party and not the hosting organization.

The Russian Investment Forum-2020 was scheduled for February 12-14. However, on February 4, 2020 the Russian Prime-Minister Mikhail Mishustin endorsed a decree on postponement of RIF for an indefinite term due to coronaviral epidemic. At that time it was stated that the new dates for hosting the Forum will be announced later.        

It was told in the Department of Investment and SME Development of Krasnodar region that RIF will not impact the performance of the targets for attracting investments and development of regional economy.

The Investment Forum in Krasnodar region has been running since 2002. For the region RIF is the largest business event. Around 7 to 8 thousand people visit it on an annual basis. In 2019 Kuban concluded 228 agreements worth more than 298 billion rubles (56 billion rubles or 23% higher as compared to the past year).