OREANDA-NEWS. June 21, 2011. In the course of the 15th Petersburg International Economic Forum in the presence of Presidential Envoy to the North Caucasus Federal District Alexander Khloponin, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Chamber of Commerce and Industry (CCI) entered into an Agreement on Cooperation.

On behalf of Vnesheconombank the Agreement was signed by Vnesheconombank Chairman Vladimir Dmitriev and on behalf of CCI – by President Sergei Katyrin.

The Agreement aims to create favorable conditions for raising investments as well as step up business activity in Russia’s constituent entities.

The parties intend to coordinate their efforts to organize and expand investment activity, render assistance in implementing projects and development programs aimed at raising people’s living standards and improving their quality of life in Russian constituent entities and upgrade the market for public private partnership projects.

Under the Agreement they expect to assess promising portfolios of regional investment projects as well as proposal for creating favorable economic and legal environment for business entities’ investment and innovation activities.

Under the Agreement the parties are to act as investment consultants of Russian constituent entities by participating in formulating certain regional strategies, development programs and comprehensive investment plans.

The Agreement signed provides for assisting territorial chambers of commerce and industry and executive authorities in the regions in developing and participating in top-priority projects aimed at attracting private investments.

This Agreement implementation would help to improve investment climate in Russian constituent entities.