The Russian Investment Forum was held at the Main Media Center of the Sochi Olympic Park on February 14-15. Over 8,000 leading economists and entrepreneurs, experts and consultants, journalists and exhibitors, leaders of major Russian and international companies, and federal and regional officials participated in this event. Alexei Tsydenov, Head of the Republic of Buryatia, led the delegation from the region.
On February 14, Mr. Tsydenov signed a cooperation agreement between the Republic of Buryatia and Credit Bank of Moscow to implement a series of public and private partnership projects focused on the development of regional infrastructure. This agreement will help implement large scale social PPP projects in Buryatia including concessionary agreements. Credit Bank of Moscow will conduct a preliminary work to improve the investment potential of the social infrastructure-related projects in the Republic.
On the same day, Alexei Tsydenov and Vitaly Ivanov, CEO of IDGC of Siberia, a major Russian power distribution company, signed a 10-year interface agreement. The key focus of this agreement is to digitize Buryatia’s power grid system. The Pribaikalsky District has been selected as a pilot area for creating the first digital power distribution zone by 2020. The cost of this project is 150 million rubles. The introduction of digital technologies will almost halve the time needed for the power grid hook-up, decrease power losses, and significantly shorten power outages. In 2018, the average time required for connecting to the power grid was shortened to 40 days.
On February 15, Mr. Tsydenov took part in the meeting of Russian Prime Minister Medvedev with regional leaders to discuss the implementation of national social development projects.