A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 180 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 81 countries worldwide, and 186 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, Spanish – t.me/RoscongressEsp and Arabic t.me/RosCongressArabic. Official website and Information and Analytical System of the Roscongress Foundation:roscongress.org.

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Andrey Kostin

Andrey Kostin

President and Chairman of the Management Board, VTB Bank
Quotes
07.09.2022
EEF 2022
Russia's Financial Sector Transformation: Preliminary Results
The changes [in Russia's economy caused by the introduction of the European sanctions – Ed.] are so extensive and so deep that the adaptation of the financial and banking sectors to the new reality will take more than a year. <...> But the adaptation is already happening. <...> Even the financial indicators of the banking sector have started to change. <...> VTB also started working at a profit in July. The most important thing is that we managed to avoid the mass default of our clients. <...> Regarding rouble settlements... the day-to-day operations with credit cards and even online banking were not seriously affected, so much so that customers would not suddenly feel the changes
17.06.2022
SPIEF 2022
New Realities of the New World: A Game with No Rules?
We of course need to focus more on the domestic market. The banking sector has been a real success story in terms of import substitution in recent years. We have built an entire infrastructure for the stock and debt markets. Of course, we now need to set up these alternatives for the public, for Russian corporations, and financial organizations. We need to expand, develop, and build an incredibly powerful domestic securities market and financial market, and significantly reduce the foreign currency element. This is our path, and there is no other one available to us
17.06.2022
SPIEF 2022
New Realities of the New World: A Game with No Rules?
We are having to deal with the position of the West, which is essentially to play a game with no rules. Rules which were even established in the West itself now no longer apply. Three quarters of our banking sector have been cut off, if we look at the scale, rather than the number of banks. These are the largest financial institutions, and there are only rare exceptions. I think that of the seven biggest Russian banks, only Gazprombank remains unaffected by the sanctions. We simply have no other choice. It is absolutely vital to develop alternative channels for international settlements, with settlements being made in national currencies. Of course, a universal settlement scheme may be simpler in all respects... But we have no choice, because the method of settlement has become a weapon. I see how even our friendly partners are behaving – they are not afraid of America’s nuclear arsenal or its military might. They are not even afraid of what economic measures the US may take – they are afraid of being cut off from the dollar. That’s most powerful weapon the US has, and it enables them to dominate and frighten everyone. So, we have no choice. Despite all the difficulties, despite all the shortcomings, we have to create a non-dollar, non-currency-based form of settlement with other countries
17.06.2022
SPIEF 2022
New Realities of the New World: A Game with No Rules?
The sooner we realize that life is now different, the quicker we’ll be able to start work on restructuring the economy, political sphere, social sector, and yes, even things like music, and the better off we’ll be. And we’ll be able to come up with new principles, new policies, and new approaches. Based on these principles, we will negotiate with the West on new rules that need to be put in place, at least to replace today’s game, which has no rules at all
04.06.2021
SPIEF 2021
Reset or Overload? Rethinking Multilateralism among the Ruins of Globalization: A Business Perspective
The launch of a new system requires a serious transformation of the existing international institutions that deal with economic policy and financial policy
04.06.2021
SPIEF 2021
Reset or Overload? Rethinking Multilateralism among the Ruins of Globalization: A Business Perspective
Today we are seeing disconnected politics and the weakening of international bodies that can work out some sort of joint solutions [...] We are seeing less and less coordination and interaction between governments in maintaining some sort of order or system in terms of economic and financial regulation. […] The monetary policy will definitely be adjusted. Developing markets will be the first to suffer
04.06.2021
SPIEF 2021
Reset or Overload? Rethinking Multilateralism among the Ruins of Globalization: A Business Perspective
For business, of course, predictability is very important. It’s important to understand global processes, how they progress and how they interact. We aren’t seeing this today. The level of cooperation at the global level is declining. It’s increasingly a struggle with the lack of any interaction. [...] We need open markets, open rules, fair rules of interaction, and fair rules of the game
23.10.2019
Russia- Africa Economic Forum 2019
Russia and Africa: Uncovering the Potential for Cooperation
Lowering the risks. Unfortunately, today we live in an era of geopolitical uncertainty. We have tangible risks in the financial system, and we suggest expanding the non-dollar transaction practices, including those in Russian roubles
23.10.2019
Russia- Africa Economic Forum 2019
Russia and Africa: Uncovering the Potential for Cooperation
Apart from the ever so interesting commodities sector, promising investment opportunities include the energy sector, agriculture processing, urban development, fishery, education and medical services, and infrastructure development
23.10.2019
Russia- Africa Economic Forum 2019
Introducing Russia to Africa
A promising area of cooperation involves attracting big Russian investors in industries strategic for many African countries, such as agriculture, mining or processing raw material
07.06.2019
SPIEF 2019
Business in National Development Projects: Ways to Succeed
If we consider 5 years for the implementation of national projects, then for infrastructure this is an awfully short time. <...> We need to get started [implementing national projects] <...> right now, urgently. Otherwise, the money that has been allocated will be lost
07.06.2019
SPIEF 2019
Business in National Development Projects: Ways to Succeed
National projects are key. If we carry them out, we will achieve a different pace of development and a jump in the economy; it is very important to carry them out
14.02.2019
Russian Investment Forum 2019
Transport in Russia: Supporting the Development of Major Infrastructure as a Cornerstone of Economic Growth
“We basically have very few mechanisms of coordination between the federal government and regional business. If we have gone through all authorities, including the commission headed by the vice-president, submitted all documents, then in terms of finance everything is worked out. If we want to meet the deadlines and carry out projects, let’s bring decisions to a close. We have to quickly refine and implement the system. We have only six years left,
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
Issues of regulation are very important now. I think that, since the 2007 crisis, the financial market has been overregulated. All European countries, including Russia, look at the United States and see that the American banks are in a better position. This is an additional driving factor for the economy
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
The role of the government in Russia’s banking sector is rather high, perhaps 55–60% of assets in Russian banks belong to the banks heavily controlled by the government. There are two important things here: they work in the same competitive environment and follow the same principles as their rivals. … In most countries, in China and India, partially state-owned banks play a very important role. They are very strong. I do not think that state participation is necessarily an evil, provided that all play by the same rules
25.05.2018
SPIEF 2018
Banking and Finance in the Emerging Markets: Version 2.0
Banks will continue to provide banking services as a key type of services. Some of my colleagues in Russia believe that the traditional banking business will be converted into some kind of hi-tech companies or something like that. … And yet people will continue to come to bank offices. They need to be sure that the bank still exists, that their money is there. At the same time, they will not apply to banks for some simple services such as housing payments or money transfers, and this is where new technology is needed