Foreign Investors are Invited to Siberia

Foreign Investors are Invited to Siberia


The Yenisei Siberia integrated investment project was presented at the Cultural Centre of the Ministry of Foreign Affairs in Moscow on November 11. The authorities of the Krasnoyarsk Territory and the republics of Khakassia and Tuva expect an influx of foreign investments.

According to organizers, representatives of several dozen countries and as many foreign reporters attended the presentation. The Russian delegation was headed by Krasnoyarsk Territory Governor Alexander Uss and heads of the Republics of Khakassia and Tuva Vladislav Khovalyg and Valentin Konovalov.

The participation of Foreign Minister Sergei Lavrov added weight to the event.

“At the moment, the investment value of the project exceeds 1.9 trillion rubles ($25.5 bln). The investment opportunities are unique there. Yenisei Siberia occupies 15% of the area of Russia. It accounts for more than 3% of the domestic regional product of our country. The region has more than 1,600 mineral deposits. I invite foreign partners to mutually beneficial cooperation,” Lavrov said.

As wrote earlier, Yenisei Siberia has been implemented since 2018. It is a huge aggregation of projects in a variety of industries in the three regions along the Yenisei. It was initiated by Krasnoyarsk or, to be more precise, Alexander Uss. He was appreciative of the successful Nizhny Priangarye development project, a brainchild of his predecessor Alexander Khloponin (though some points in it could be challenged). The key phase of the project was the completion of the Boguchanskaya hydroelectric power plant and a new bridge across Angara. The now popular mechanism of public-private partnership (PPP) was tested more than 15 years ago in Nizhny Priangarye. The most typical scenario is when the business enters a hard-to-reach territory with financial investments from the budget into the infrastructure or tax and customs preferences.

Top government officials promised assistance to Yenisei Siberi’s dozens of ambitious projects such as the Krasnoyarsk Technology Valley based on the Krasnoyarsk aluminum smelter. This engineering cluster is already under construction. Krasnoyarsk’s Yemelyanovo Airport is developing an international transport and logistics aviation hub. Power engineers have plans to build another hydropower plant in the Boguchanskiy district of the Krasnoyarsk Territory on the Angara river. The Yenisei Siberia also includes the ill-fated Kuragino-Kyzyl railroad, which should link Tuva with the Trans-Siberian Railway. Tuva also has plans to develop the Tardan gold mine. Khakassia represents primarily the projects in the coal and metallurgical industries. This is, for example, the development of the Beysky coalfield, the construction of a new bridge over the river Abakan and the modernization of the Sayan aluminum plant.

Meanwhile, the presentation held at the Ministry of Foreign Affairs points out that it is not a fundamentally new stage in the promotion of Yenisei Siberia. Promising projects have long been started. Those that raise questions are still not implemented (for example, the Kuragino-Kyzyl railway). On the other hand, it is safe to say that the representatives of the Krasnoyarsk Territory have good lobbying opportunities in Moscow, as they were able to organize an event which was good for its reputation. The rumors about Uss' imminent retirement look even more groundless in this connection. Talks of an economic breakthrough and multibillion-dollar investments still seem very vague to ordinary people in Siberia.

“It would be better if the residents of Khakassia were informed about the situation with Yenisei Siberia. Otherwise, it makes no sense. At least, as far as the development of Khakassia is concerned.

To complete the picture, it will be better to tell about the results achieved by participation in various economic forums in Krasnoyarsk, St. Petersburg, etc. There was also the Development Council. The Development Strategy of Khakassia was adopted. Khakassia Development Funds and Khakassia Industry Development, Guarantee Fund, and Export Support Center are also operating in addition to the Ministry of Economic Development and the deputy head of the region for the economy,” a skeptical Khakasia activist Evgeny Mamaev told

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