Moscow Times № 41, February 28, 2002

The Moscow Times Russian and Western businesspeople, government officials and financiers descended upon the tranquil Swiss Riviera Wednesday for three days of seminars, round-table discussions and intensive deal-making. Not to forget a little down-hill skiing, of course.

Delegates at the RosBusinessConsulting information agency's sixth international investment conference, which this year is being held in Geneva, have high hopes for the event.

The general consensus is that the conference is perfectly timed, coming as it does against the rosy backdrop of Western financial institutions' continued interest in Russia. RosBusinessConsulting claims on its conference web site (www.geneva.rbc.ru) that Swiss banks are ready to release investments worth $500 million to Russia this year.

"Part of them can be allocated in accordance with the results of our conference," the organizers said.

Russian businesspeople will have a valuable opportunity to meet potential investors face-to-face.

"Since the conditions for attracting capital to a large extent depend on a company's image, the concrete actions of representatives of Russian business at this conference will enable them to make personal contacts with the European financial circles," said Vladimir Chekalkin, executive director with Swiss firm ABD Consulting S. A. ABD Consulting and MDM-Bank are official partners of the conference.

Peter Halloran, executive chairman of Aton Capital, hopes all the old investment issues will get a good airing.

"RosBusinessConsulting has brought together a very experienced group of market players to discuss the topics investors are focusing on," he said, adding that these include legal and structural reforms, as well as mechanisms for safeguarding investments.

Gennady Kamyshnikov, partner with Deloitte & Touche, agreed.

"I would predict that among the issues that concern the Russian business community the most, the transparency of Russian companies will draw a lot of attention from the delegates," Kamyshnikov said.

The core, two-day seminar program, comprising four rounds of eight 20-minute presentations, is broad in its scope.

From day one's opening speech on "the new-found investment attractiveness of Russian firms and the economy as a whole" by Deputy Economic Development and Trade Minister Arkady Dvorkovich, to the moment they break for lunch at 1 p.m., conference delegates will have heard presentations on topics ranging from the investment opportunities offered by Russia's capital markets, to ownership right guarantees and banking sector reform, to name but a few.

On day two, conference-goers are to be treated to presentations on private banking in Switzerland, investing in Russia's regions and investments in intellectual property, as well as the latest on regulations governing "financial transactions in the heat of international terrorism."

Fueled by the previous days' brain-storming, deals will doubtless continue to be struck both on and off-piste, as delegates are offered excursions around Geneva and given the opportunity to savor the powder of the Swiss slopes prior to a lavish farewell banquet.