Projects opportunities in Russia & CIS. China Roadshow 2017
«Projects opportunities in Russia & CIS. China Roadshow 2017» Forum was held for the first time in Beijing on September 19. The event was organized by CREON Capital, part of CREON Group. The Forum was attended by over 120 top managers of the largest Chinese corporations such as CGGC, Wison, COOEC, CRRC, CRCC and HQC.
The opening address was delivered by the Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the People's Republic of China H.E. Andrei Denisov, who noted that «the contacts between our countries are intense at all communication levels. In the economic sphere, we have managed to overcome a number of negative trends, and to progress to a track of a steady development. At the same time however, we understand that the bilateral economic cooperation must be brought to a qualitatively new level through creating new growth points. We have good prospects for joint projects including those aimed at deep processing of feedstock, at petrochemical and agrochemical industries, but without any doubt our first priority is cooperation in the energy sector».
The number of Chinese companies investing in Russian businesses is relatively modest now, but Russia and the CIS countries remain a promising destination for investment by the largest industrial enterprises from China and broader, from Asia. Fares Kilzie, Head of CREON Group, underlined that «there are opportunities to implement successful and high-yield projects in Russia and the CIS countries, and not necessarily should they be connected with majors like Rosneft and Gazprom. The most valuable targets for investment are medium and small-sized regional projects that have no state-owned share in capital. The direct goal of CREON Energy SICAV-SIF Fund is to assist Asian and European partners in identifying opportunities for cooperation».
With Western sanctions in place, Russia and China are able to progress to a new, higher level of economic relations in the nearest future. Meanwhile, the representatives of Chinese business community outlined some factors that are obstructing their business in Eastern Europe. Ms. Yan Wang, Partner at Ernst & Young in Beijing, noted that the challenges include «the lack of legal predictability and stability in Eastern Europe». On the other hand, Mr. Xin Zongyi, Executive Vice President of the industrial giant CGGC, spoke up to assure all the participants of the Forum that successful business is possible in any country, provided there is a «strong investment partner such as CREON Energy Fund» to achieve this.