Investment promotion agency as a competitive weapon on the world investment market

In an effort to find effective instruments for attraction of investments into the Russian economy, a number of specialized investment promotion agencies have been established all over the country. Their basic function is to set up a favourable environment for potential investors from Russia and foreign countries.

To support the process of realization of investments projects and cluster initiatives in the Tomsk oblast, the Tomsk agency for investment promotion, LLC was set up in June, 2007 (information is available at www.investintomsk.com). The agency’s main goal is to attract investments and create a positive, effective and dynamic image of the Tomsk oblast as a perspective region for investment. Thus, the agency will present the oblast to the potential investors and help it successfully compete on the international investment market.

“The term “another investment company” cannot certainly be applied to our agency”, says Arkadiy Chekunov, the General Director of Tomsk Agency for Investment Promotion. First of all, because of its progressive organizational form - public-private partnership, when 51% of its shares belong to the Tomsk State Property Fund. “In fact, we are in the niche that ensures both effective global development of the Tomsk oblast and promotion of each individual company of Tomsk”, he adds.

Secondly, it is worth noting a unique nature of agency's activity, namely targeted work with investors and use of one-stop principle when the whole range of services - search of sites, resources or potential investors, information and analytical support, development, implementation and monitoring of investment projects - is rendered by one organization.

The Agency experts believe that the most promising industries for investment into fixed assets of the Tomsk oblast are the following: timber processing complex, agriculture and food industry (milk production, potato growing), building materials industry, electrical and instrument engineering. The Agency’s top managers are sure that it is possible to develop other industries, but only as point, individual projects in the nearest 2-3 years.