OREANDA-NEWS. November 02, 2011. The Russian Regional Forum “Investments in the Modernization of the Russian Economy” was opened in Moscow. The Forum’s main theme was raising investments in the industrial innovative development of Russian constituent entities.

At a plenary session, Vnesheconombank Deputy Chairman Irina Makieva spoke of Vnesheconombank Group’s influence on the Russian regions’ comprehensive development. In her address Irina Makieva said that there were good reasons to use the best practice of modernizing Russian mono-cities with closed economic systems to achieve objectives of comprehensive regional development and creating a favorable investment climate in the regions.

Representatives of foreign development banks, regional administrations and Russian companies discussed prospects for developing innovative sectors, business development factors in the regions, problems confronted by foreign investors on regional markets and the use of foreign expertise in the regional development. In the course of the Forum its participants noted the positive dynamics of the Russian economy’s development and the need for its modernization through making institutional and legislative transformations in the regions as well as the need to search appropriate ways to ensure the country’s rapid and effective integration into the world economy.