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

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, 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, and 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 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

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

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Elvira Nabiullina

Elvira Nabiullina

Governor of the Bank of Russia
Quotes
03.06.2021
SPIEF 2021
From Financial Literacy to Financial Resilience: How Has the Pandemic Impacted Consumer Behaviour?
What has the experience of the last year, for example, taught us? [...] We pursued a soft monetary policy, and deposit rates decreased. People understand that they need to hold onto their savings, especially during this period, so that they don’t depreciate. And then people began actively searching for alternatives, primarily on the stock market [...] We now have about 10 million people on the stock market. Many people lack the knowledge and skills to understand these complex products. This was compounded by the unscrupulous behaviour of numerous financial institutions, which, in search of a quick profit, undoubtedly began offering some [dubious] products after seeing the financial flow that went to this part of the market
03.06.2021
SPIEF 2021
From Financial Literacy to Financial Resilience: How Has the Pandemic Impacted Consumer Behaviour?
People nevertheless often try to behave rationally. I wouldn’t say that it’s irrational, but [their] knowledge and skills may not be sufficient. There are simply no solutions that are suitable once and for all. It all depends on the situation in which people are in and their needs. For example, [if they need] to improve their living conditions, they have to look at certain products and so on, and so on. Much depends on the situation. Incidentally, we see how circumstances have changed in the context of the pandemic and how attitudes have changed. People understand that in general it is essential to have [...] a financial safety net that helps in these conditions, when incomes are falling and there is uncertainty
03.06.2021
SPIEF 2021
Preparedness Strategies: Multiservices and Technologies in the Public and Private Sector
Taking geopolitical risks into account, we must have components of the national infrastructure. So we created… the National Payment Card System on the territory of Russia – a 100% subsidiary of the Central Bank. The Mir card evolved this way. We cannot ignore these factors
03.06.2021
SPIEF 2021
Preparedness Strategies: Multiservices and Technologies in the Public and Private Sector
A significant number, most of the market players cannot develop such services on their own. This is one of the indicators. They cannot do this due to the large amount of financial resources needed
03.06.2021
SPIEF 2021
Preparedness Strategies: Multiservices and Technologies in the Public and Private Sector
Those platform solutions that are developing, and the platform economy is developing, can only be financed by major players. If the state does not interfere, we can end up with one or two players. Less than three is no longer competition. In the next stage, consumers will pay more, as they always pay for the monopoly
05.06.2021
SPIEF 2021
A Model for Raising Investment: Focusing on ESG
We would also like to see the stimulation for companies that commit to the ESG principles through tax incentives, concessional lending, and various kinds of subsidies. Also, we would also like to see Russia’s active participation in shaping the international ESG agenda within the UN and other international organizations
05.06.2021
SPIEF 2021
A Model for Raising Investment: Focusing on ESG
First of all, I would like to see the implementation of the criteria for ESG projects developed by the Ministry of Economic Development; in particular, for the creation of Russian ESG ratings. We would also like to see control over the compliance after the traditional certification campaign ends
02.06.2021
SPIEF 2021
Digital Services for Businesses
The development of factoring for small and medium-sized businesses. [...] The use of factoring financing enables small and medium-sized businesses to avoid cash shortages and ensure business development. The Russian factoring market has a high level of concentration. At present, the five largest [Russian] companies account for more than three-quarters of the market. In such a divided market, the price for an entrepreneur for this essentially risk-free operation is quite high. This is why, together with the FinTech Association, the SME Corporation, and the government, the Central Bank will now develop an online factoring platform. [...] In our opinion, it will enhance competition between factoring companies, and most importantly, for small and medium-sized businesses, in order to simplify the process and reduce the cost of working capital. We plan to launch this platform (we are actively working on it) by the end of this year
03.06.2021
SPIEF 2021
The Russian Economy: From the Anti-Crisis Agenda to Sustainable Development
There are two directions, this is the market development, the taxonomy is the key thing: the criteria describing what green projects are and what transitional projects are. The corresponding infrastructure, verifiers, trade platforms, incentives for both ‘green’ and transformational stock and bonds. Probably, the development of the stock exchange infrastructure for trading carbon units
03.06.2021
SPIEF 2021
The Russian Economy: From the Anti-Crisis Agenda to Sustainable Development
In Russia, we have increased inflation. <...> Inflation expectations are at a four-year high and have been at an elevated level for several months. It changes people’s behaviour
03.06.2021
SPIEF 2021
The Russian Economy: From the Anti-Crisis Agenda to Sustainable Development
This is one of the most powerful trends
06.06.2019
SPIEF 2019
The Russian Economy Seeking Ways to Boost Growth
Softening fiscal policies when limitation lies in a different sphere is not going to instigate economic growth but will create inflation and financial instability risks instead. Stable low inflation is one of the factors leading to investment type of growth
06.06.2019
SPIEF 2019
The Russian Economy Seeking Ways to Boost Growth
People do not take out credit to live large, it is not the demand that is growing. <…> It is the way to maintain a lifestyle when your income is growing slowly
06.06.2019
SPIEF 2019
The Russian Economy Seeking Ways to Boost Growth
Business needs help in raising its environmental standards. As a regulator, the Bank of Russia is working to make green financing tools are more accessible
06.06.2019
SPIEF 2019
The Russian Economy Seeking Ways to Boost Growth
We have a slow growth problem <…> which can only be fixed through structural reforms
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
We need to transfer pension savings to the system. This is necessary for two reasons: to ensure retirees are guaranteed a decent pension, and to create long term money
24.05.2018
SPIEF 2018
Putting Russian Economy on a Sustained Path of Growth: Challenges and Solutions
The fact that today we have a low level of sovereign debt by global standards (around 13% of GDP) means we have a large resource. It means that over the coming years we have a reserve which we can use to invest in infrastructure