Ingushetia and Krasnodar Territory in the lead by number of signed contracts at forum in Sochi

The International Investment Forum in Sochi has presented projects in construction and industry, foodstuff production and tourism, which were submitted by the regions of the Southern and North-Caucasian Federal Districts (SFD and NCFD). Ingushetia and the Krasnodar Territory were leaders by the number of signed contracts.

However, the authorities of Chechnya have treated the forum as "inconclusive", because no large contracts with foreign investors were signed. The Astrakhan Region has failed to submit at least one project, while Kabardino-Balkaria was totally absent, said a source from the regional government.

The 13th International Investment Forum in Sochi was held on September 18-21 and was attended by 9000 people, including regional leaders and the Prime Minister of the Russian Federation Dmitry Medvedev.

Ingushetia concluded 13 contracts totalling more than 15 billion roubles, Yusup Zurabov, the Economy Development Minister of Ingushetia told the "Caucasian Knot" correspondent. According to the Minister, some of the projects may "give a good momentum for substituting imported goods and foodstuffs by domestic ones."

Compared to earlier presentations, this year's exposition of North Ossetia at Sochi Forum was essentially changed – instead of costly and scaled projects, real and well-justified production ideas were brought to the judgment of experts and investors, said Sergey Takoev, the chairman of the republic's government.