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PETROZAVODSK, September 24. /Correspondent of SPB-TASS Yuri Shleikin. Aspects of development of financial market and its tools were discussed in Petrozavodsk at the Northwest Federal District investment forum organized by the Government of the Republic of Karelia, office of the plenipotentiary the President of the Russian Federation in the Northwest Federal District, Association of banks of Northwest and other organisations.
Speaking at the forum opening session, the Head of Karelia Sergey Katanandov has noted that many financial market tools start working in Russia now, and to learn to use them is necessary for all participants of investment process. This theme is actual for Karelia, taking into account, that it experiences living under scarce budget conditions. He has informed, that over 70 investment projects are at various stages of realization in Karelia. 'Open doors' policy for domestic and foreign investments is implemented in the republic.
In her speech the assistant to the the plenipotentiary the President of the Russian Federation in the Northwest Federal District Lubov Sovershayeva has emphasized aspects of investment potential of the district and problems of the state policy on attraction of investments. She has noted that growth of investments in the fixed capital has made 12% on the country in 2003, 24% on the district, "and in the second six months of the year process of redistribution of investment flows for the benefit of processing sector of the economy was started."
The Northwest Savings Bank of Russia Chairman Leonid Shats, commenting upon activity of the bank in Karelia, has told the SPB-TASS correspondent: "Development of economics in Karelia is a priority direction for us. It proves to be true by those resources which the bank has already invested here. Investments have made about 5 billion roubles. They will grow further approximately 1 billion per year."
The forum in which about 300 representatives of large companies and banks of Moscow, Saint Petersburg, the largest enterprises of Karelia and district participate was organized in the northern republic for the first time.
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