To solve the problem of lack of investments in Russia's regions, the government intends to set up one more state agency. The investment deficit, especially of foreign funds, badly affects the country's regions. Many projects are not implemented for the reason of poor financing. The Russian authorities have set a task to create a federal agency aimed at assets attraction. Prime Minister Dmitriy Medvedev emphasized the need of such an organization at a roundtable of the International Investment Forum Sochi 2013. A document, determining the power and functions of the service, has been signed recently. “I gave a special instruction the day before yesterday to consider the formation of a special-purpose entity, the Russian agency for the promotion of regional investment,” the prime minister said in an interview. Likewise other government agencies, the new unit is supposed to be a convenient and easy mechanism, as a one-window service, according to the premier. The agency will be useful for the promotion of the Russian regions’ interests on the global investment market. An appropriate approach will make possible dealing with a great number of overseas companies willing to propose more than $5 million to medium businesses. There are a lot of such well-experienced agencies around the world. The contender to lead the department has not been determined yet.
