Russia’s Siberia attracts $7 BILLION in investment at St. Petersburg Economic Forum

Russia’s Siberian Federal District has signed a range of agreements totaling almost 500 billion rubles ($6.9 billion) at the St. Petersburg Economic Forum (SPIEF), the region’s information center reported on Wednesday.

That is around 13% of the total number of deals made at SPIEF, which took place on June 2-5.

The regions of the Siberian District signed 74 agreements on cooperation, the information center said, adding that “130 negotiations have been held, aimed at expanding the social and economic cooperation of the Siberian regions with international and domestic businesses.”

The largest business deals (over $4 billion) have been struck by Kuzbass (Kemerovo Oblast). Its governor, Sergey Tsivilev, told TASS that all the agreed projects will be related to the non-resource sector, which will contribute to the coal region’s economic diversification. A number of investment agreements concluded by Kuzbass at the SPIEF concern the development of tourism in the region, he said.

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