Conferences
loading
Day of Moscow Economy in Frankfurt am Main (1st July 2003) (permalink )
With the growth of the City of Moscow economics, the City's improving budget indices and stabilization of its financial system the task of attraction of foreign investments for implementation of Moscow investment projects becomes more and more important. Attraction of foreign capital for rapid growth of the City economy implies consistent and effective promotion of the City of Moscow projects and programs abroad as well as presentation of the City's achievements and its role as the economic, financial, scientific and cultural centre of the Russian Federation.
Germany (including its regions and large cities) is a traditionally important Moscow's business partner in Europe. In particular, during the last few years the City of Moscow has developed and strengthened its partnership with Frankfurt-am-Main - the financial and banking centre of Germany.
The first steps for development of the cooperation with the Frankfurt administration were made in 1999-2000. The management of Moscow Municipal Debt Committee (now - State Debt Committee of the City of Moscow) and SSUE "MosFinAgency" arranged regular information exchange with Wirtschartsfoerderung Frankfurt - Frankfurt Economic Development GmbH (further referred to as WIFO) - the organization dealing with strategic planning of Frankfurt economic development and marketing of Frankfurt as an economic unit, as well as providing other related services e.g. consultations to the enterprises working or willing to work in Frankfurt. In May 2000 in Moscow WIFO, State Debt Committee of the City of Moscow and MosFinAgency signed and Agreement on Cooperation.
In October 2000 the official City of Moscow delegation headed by Mayor Yuri Luzhkov visited Frankfurt-am-Main. The visit was arranged within the visit to Germany on October 23-24. During the visit the City of Moscow delegation met with the members of the Magistrate of Frankfurt-am-Main and the top managers of the leading German banks to discuss the prospects for their cooperation with the City of Moscow Government. The guests were especially interested by the experience of the Frankfurt administration in building good relationship between the City's administrative bodies and financial institutions.
In May 2001 the delegation of Frankfurt-am-Main headed by Oberburgomeisterin Petra Roth visited the Russian capital. The delegation included the Head of the Department for planning, economics and security of the Magistrate of Frankfurt-am-Main Edwin Schwarz, representatives of WIFO and the Frankfurt Chamber of Commerce and Industry.
On May 17 in the Moscow Mayor's Office was signed the Protocol of cooperation between the City of Moscow Government and the Magistrate of Frankfurt-am-Main. As the main direction of the cooperation was defined cooperation in the financial and economic sphere for comprehensive development of both cities as financial centres. On the same day in the presence of the Mayor Yuri Luzhkov and Oberburgomeisterin of Frankfurt Petra Roth was signed the Agreement on Strengthening of Cooperation among State Debt Committee of the City of Moscow, MosFinAgency and WIFO. The Agreement stipulates the preparation of a Complex Cooperation Program of the two cities, regular exchange of delegations comprised of specialists and development (based on the Frankfurt experience) of the strategy of development of the City of Moscow as a Eurasian financial centre. The parties also agreed to create in Moscow and Frankfurt information centers for coordination of information exchange activities for the purposes of investments in the economy of Moscow and Frankfurt.
Another step for strengthening of cooperation and switching of the relations between the two cities to a higher level was the decision to organise on a regular basis (once in two years) the Congress "Day of Moscow Economy" in Frankfurt-am-Main. The first congress "Day of Moscow Economy" in Frankfurt-am-Main was organised on 1-2 July 2003. The main objectives of the event were as follows:
- Acquainting the German businessmen, and in the first turn top managers of German financial institutions and representatives of investment community, with the City of Moscow and the prospects for German investments into its economy.
- Presentation of certain investment projects, enterprises and institutions of top priority for further development of the City's economy
- Creating the necessary conditions for investment attractiveness of the City of Moscow for the German investors, in particular providing maximum possible information transparency in the work with the interested German businessmen.
- Providing the possibilities for regular contacts of the business elite and the executive authorities of the two cities.
- Acquainting the participants of the Congress with the achievements in the sphere of culture and arts.
The main coordinator and organiser of the Congress from the German side was Wirtschaftsfoerderung Frankfurt - Frankfurt Economic Development GmbH (WIFO). From the Russian side general coordination of the event was effected by the Department for International Relations of the City of Moscow, and the work for organisation of the Day of Moscow Economy was done by State Debt Committee of the City of Moscow and MosFinAgency.
Among the sponsors of the event were the largest German and Russian banks, including Commerzbank, Deutsche Bank, Dresdner Bank, Bank of Moscow, TRUST Investment Bank, Sobinbank. MosFinAgency, the Moscow Bank Union and the City of Moscow Chamber of Commerce & Industry also actively contributed to the preparation of the event.
The official delegation of the City of Moscow headed by the Mayor of Moscow Yuri Luzhkov included Deputy Mayors of Moscow Iosif Ordzhonikidze and Yuri Roslyak, Minister of the City of Moscow Government and Head of the Department of Science and Informational Policy of the City of Moscow Evgeni Panteleev, Chairman of the Moscow City Duma Vladimir Platonov, Head of the Department for International Relations of the City of Moscow Georgi Muradov, President of Bank of Moscow Andrei Borodin, President of the City of Moscow Chamber of Commerce & Industry Leonid Govorov, Chairman of State Debt Committee of the City of Moscow Sergey Pakhomov, Chairman of the City of Moscow Committee for Architecture and Construction Alexander Kuzmin and others.
The main events of the Congress "Day of Moscow Economy" took place on 1 July 2003. They included:
- Festive Opening of the Congress by Oberburgomesterin of Frankfurt-am-Main Petra Roth and the Mayor of Moscow Yuri Luzhkov.
- Press conference with participation of P.Roth and Yu.Luzhkov.
- Panels "Presentation of Moscow investment projects" and "Moscow as the financial centre of the Russian Federation".
The panel "Presentation of Moscow investment projects" was moderated by Deputy Mayor of Moscow Iosif Ordzhonikidze and Head of the Department of Science and Informational Policy of the City of Moscow Evgeni Panteleev. In this panel were presented the following projects: "Tourist and Recreation Zone "Golden Ring of Moscow"", "High-speed Transport System: Sheremetyevo - Moscow-City", "Renovation of the Central Exchibition Hall "Manege"", the investment projects of the "Scientific Centre" Concern based in Zelenograd, and others.
In the panel discussion "Moscow as the financial centre of the Russian Federation" , moderated by Deputy Mayor of Moscow and Head of the Department of Economic Policy and Development Yuri Roslyak, Chairman of State Debt Committee of the City of Moscow Sergey Pakhomov and Chairman of the German Securities Institute prof. Ruediger von Rosen, took part the leading Russian and German bankers and financiers, including President of Association of Russian Banks Garegin Tosunyan, President of Bank of Moscow Andrei Borodin, Chairman of the Board of TRUST Investment Bank Ilya Yurov, Chairman of Supervisory Board of "Renaissance Capital" Group Alexander Shokhin, Director General of Moscow Interbank Currency Exchange Alexander Potyomkin and others.
The Mayor of Moscow Yuri Luzhkov also visited a photo exhibition about the City of Moscow and the Frankfurt Fair. After the festive events on July 1st there took place an evening reception on invitation of Oberburgomeisterin Petra Roth in the Imperators' Chamber of the City Hall.
Apart from the above-mentioned events, on the eve of and on the day after the Congress were organised the meetings and negotiations for its Russian participants with the appropriate German enterprises, banks and financial institutions. The Congress was attended by approx. 150 delegates.
According to the estimations of Oberburgomeisterin of Frnakfurt Petra Roth, Members of the City of Moscow Government and the German partners of State Debt Committee of the City of Moscow and MosFinAgency, as well as from the German and Russian mass media, the Congress "Day of Moscow Economy" was a very successful event which achieved all its objectives. The heads of Moscow and Frankfurt administration plan to organise the Congress "Day of Moscow Economy" on a regular basis (once in two years). The possibility for organising the Days of Frankfurt in Moscow is discussed as well.
