A delegation from Dagestan participated in the international investment forum in Switzerland.

The delegation, the only one from all of Russia's regions, was made up of Gitinomagomed Gadzhimagomedov, Senior Vice Prime Minister of the Dagestan Republic; Magomedsalam Magomedov, Head of the Working Group for the development of Dagestan's sector of the Caspian shelf; Vladimir Grigoryants, Director for Kizlyar Brandy Distillery State Unitary Enterprise; Magomed-sultan Magomedov, General Director of Dagnefteproduct, and others.

This annual forum produces a deep resonance among Russia's business circles, the CIS, Europe, Asia and America. Government members, heads of ministries and agencies, deputies, major entrepreneurs, and heads of corporations and banks are usually among those invited to the event. This year was no exception, and investors from around the world took part in the forum, thus providing a stimulus for their dialog with Russian businessmen. At the very first plenary session, participants discussed the topic "Russian and Ukrainian business under new conditions: risks and prospects".

Why were the two countries chosen together? The forum's organizers bore in mind the years of economic relations that have existed between Russia and Ukraine. Moreover, Russian capital is perhaps ranking first now among foreign investments in Ukraine. Ukraine is a major and reliable partner of the Dagestan Republic in its foreign economic activities.

The Dagestani delegation decided to participate in this conference because of its plans to hold its own forum "Dagestan: new regional opportunities". RIA RosBusinessConsulting agreed to help, as the republic is not experienced in organizing this kind of event. Dagestan is among those Russian regions actively developing international contracts. The republic's 400 foreign trade participants work with more than 40 countries. Dagestan's foreign trade exceeded $190m last year, almost a third more than in 2003. From a report of the republic's representative, and in the course of personal meetings, foreign investors gained an insight into Dagestan's business climate. Time will show to what extent the delegation managed to persuade foreign investors, as Dagestan is still habitually included in the zone of "risky investments".