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SUMMARY ON THE INSTITUTE OF DIRECT INVESTMENTS FOUNDATION


1. Institute of Direct Investments Foundation: mission, goals and programs
2. Investment Opportunities in Russia Internet Information System
3. Regional program for preparing companies to attracting investments and establishing partners network of the Investment Opportunities in Russia project
4. Program of Professional Conferences in Investments Area and Economic Development of Russia
5. PR-Program

1. Institute of Direct Investments Foundation: mission, goals and programs

Institute of Direct Investments Foundation (IDI) is a non-profit organization established for the purpose of implementing the Investment Opportunities in Russia project (IOR) and assisting attracting investment in the regions of Russia. The IOR project began in 1998 and is being implemented with the support of the Russian Federal Commission for the Securities Market and the Ministry for Economic Development and Trade of the Russian Federation. The IOR project is aimed at creating an information internet-system that supports a network of regional databases on investment projects and business proposals initiated by Russian companies. The information collected in databases is provided to a broad range of foreign and Russian investors. Other IDI activities include: public events, i.e. conferences, seminars, round-table meetings; research, publications, and others. These activities are implemented within the framework of IOR project or closely related to it.

The IDI mission is to offer up-to-date information and organizational assistance to those who participate in the investment processes in Russia, and to provide effective tools and technologies that help investors develop projects at a high quality level.

IDI's Main Goals:

  • to assist companies in acquiring access to information, to update knowledge, to provide sophisticated technologies and tools for attracting capital, and to help in developing investment projects.
  • to provide investors with up-to-date and comprehensive information on investment opportunities in Russia, to help in establishing contacts and conducting negotiations with Russian private and state companies and organizations as well as with authorities.
  • to assist Russian consulting companies in mastering modern technologies and methods of effective assistance to companies while preparing and implementing investment projects.
  • to help state authorities at federal, regional, and local levels in developing and implementing effective investment policies.


IDI's Major Programs:

1. Program of support and development of IOR information systems using Internet and modern technologies.
2. Regional program of preparing companies to attract investments and to establish a network of regional partners in implementing the IOR project.
3. Program of professional conferences on problems in investments area and economic development in Russia.
4. Program for preparing and implementing purpose-oriented projects in cooperation with foreign and international organizations, state authorities, professional and other organizations, unions and agencies.

In January 2002 the Institute of Direct Investments Foundation and the State Investment Agency of the Ministry of Economic Development and Trade of the Russian Federation signed a Memorandum on Cooperation, which outlines the basic principles of mutual development of the IOR System and other activity.

2. Investment Opportunities in Russia Internet Information System

The purpose of the system is to assist companies in attracting financial support for developed investment projects, to provide transparency of the investment market for Russian and foreign investors. An investment projects database is constantly updated in the Internet, and is available for prospective investors (the server is located at http://www.ivr.ru). The database contains detailed information on investment projects (both in Russian and English) in an internationally standardized format.

Investment project information which is published on the IOR server includes project summary, investment proposal, project presentation, dynamic electronic financial model of the project in Project Expert format, information on company-initiator of the project and its financial state, etc. Any company can also locate a brief business proposal in this database. This option broadens the possibility for finding Russian and foreign partners.

All potential investors have an open access to the information system, possibility of projects selection based on different criteria (region, industry, pay-back period, internal rate of return, amount of investments, form of investments), and option to subscribe to automatic receiving of information about new investment projects based on certain criteria encoded by an investor. Besides that, an investor can study a selection of analytical documents on investment climate in the country and its regions.

A two-level system of collecting information on investment projects is used in the IOR system. For this purpose IDI experts developed a unique complex of software, which includes two special programs: Investment Project Electronic Profile and Administrator's Computer Aided Desktop (Administrator's CAD).

Investment Project Electronic Profile is intended for facilitating preparation of documentation on an investment project. This program can be downloaded free-of-charge from the Investment Opportunities in Russia server (at http://www.ivr.ru/anketa.shtml). The program works as a master where a user can enter information on a project or a business proposal into the provided fields. It contains help, hints and samples. The entered data are packed into a file with '*.ivr' extension which conforms to the IOR server format. The file is transferred to System Administrator for examining and further placing in the investment projects database. In case of any questions, companies' experts can use help system which is integrated into the program or directly contact the IDI experts. For placing business proposals companies can use on-line program for data entering (located at http://www.ivr.ru/anketa.shtml).

Administrator's Computer Aided Desktop is provided by the IDI to its regional representatives and allows for managing and supporting a local database on investment projects, to transfer prepared projects from a local computer to the IOR server. It also allows for automatically adding to local database projects prepared at companies using the Investment Project Electronic Profile.

Using the above-described software aids in the creation of an effective regional infrastructure for collecting investment projects into a uniform database.

Based on Investment Project Electronic Profile and Administrator's CAD programs, experts of the IDI also developed software for a number of other purposes:

System of Corporate Investment-Finance Planning is used for collecting investment projects of divisions and branches of big corporations or holdings into a centralized database, and selecting projects for financing, taking into account provided restrictions.

A similar software complex has been developed for regional administrations, which conduct tenders for financing commercially effective investment projects of the regional companies using money from the state development budget.

Advantages of the two described programs are the following:
  • primary information on projects is provided in a uniform format, which makes easier to process and store data
  • computer aided means of projects selection are used according to the provided restrictions.


Also, Project Reader and Project Expert Data Setup programs are available for downloading from the IOR server. The first program is used for working with electronic financial models of projects, and the second one is intended for collecting primary information required for developing these models.

IIn the framework of the IOR project an Internet-version of the Audit Expert program (Audit Expert Online) was developed. This program allows companies to convert their financial statements into analytical spreadsheets that are in compliance with IAS, and to calculate major financial ratios.

In the News section of the IOR server (currently only in Russian version) everyone can find a daily News block, which includes new on investments in Russia, companies news, federal and regional investment policies, investment legislation and investment projects. You can subscribe to the news for free by filling in a registration form at http://www.ivr.ru/news.

The IOR server also incorporates an Internet shop where you can buy software for business simulations, books on economics, marketing research and industrial reviews.

The IDI experts developed a brochure Methodical recommendations on preparing investment proposals for potential investors. These Recommendations conform with the UNIDO standards and have been approved by the Russian Federal Commission for the Securities Market, the Ministry of Russian Federation for Economic Development and Trade, and the Administration of the President of Russia.

The IDI experts have developed software Database of potential investors, which allows for on-line entering of information on preferred investment criteria.

3. Regional program for preparing companies to attracting investments and establishing partners network of the Investment Opportunities in Russia project

With the purpose of using potential and opportunities of the Investment Opportunities in Russia project the Institute of Direct Investments implements a regional program for developing IOR and preparing companies to attracting investments. Within the framework of this program IDI, together with regional authorities, companies and organizations, finds regional partners for implementing the IOR project in the regions of Russia. The IOR partners can be existing or purposely established organizations (non-profit partnerships, associations, foundations, etc.) which unite regional companies, local authorities and the IDI.

The task of an IDI partner in a region is to assist companies in preparing investment projects in a uniform standard, which conforms with international requirements and methodical recommendations approved by the Ministry of Russian Federation for Economic Development and Trade and the Russian Federal Commission for Securities Market, as well as to collect these projects into a regional database and the IOR database in the Internet.

For this the regional partner and companies are provided for free with the appropriate technologies and software developed by the Foundation. The IDI carries out training and renders consulting assistance to a partner's personnel.

Within the framework of this regional program the IDI, together with its regional partners and with the help of highly-qualified experts, provides consulting assistance to regional companies for the purpose of enhancing their competitiveness, helping them attract capital, and developing investment projects. The IDI together with its partner conduct regional conferences, seminars and round-table meetings, as well as render assistance in preparing public events within the framework of the IOR project.

The Institute of Direct Investments Foundation has already signed Partnership Agreements with 71 regional partners in 53 regions of Russia and abroad.

4. Program of Professional Conferences in Investments Area and Economic Development of Russia

Since December 1999, the Institute of Direct Investments Foundation has been implementing a program of professional conferences under the title Investment Possibilities in Russia. Within the framework of this program, one- and two-day conferences are held, on the development of the real sector of the Russian economy, investment attraction, and efficient operation of Russia's financial institutions.

The conferences are organized specially for top managers and specialists in Russian companies and enterprises that are professional participants in the investment process (this includes investment funds and companies, banks, consulting, legal and other firms), as well as for representatives of Russia's federal and regional authorities that take part in shaping Russia's investment and economic policies.

The objective of the conferences program is to provide professional knowledge and practical information about modern techniques used by financial institutions for the provision of services to corporate clients, to assist companies in attracting private capital, and to promote investment process in Russia.

The conferences are characterized by the selection of subjects that are the most significant for the Russian economy, also by high quality of reports and materials presented to the participants, and excellent organization.

Professional conferences held by the IDI:

  1. Corporate Bonds as the 2000 Year Instrument for the Attraction of Investments to the Russian Economy, Closed professional conference (December 3, 1999, Moscow) – 211 participants.


  2. Private Issuing of Company Shares as a Way of Attracting Investments to the Real Sector of the Russian Economy, Professional conference (March 16, 2000, Moscow) – 254 participants.


  3. Practical Aspects of Russian Companies Financing. Loans, Trade Financing, Letters of Credit, Leasing, Professional conference (May 25, 2000, Moscow) – 158 participants.


  4. Direct Investments: Legal Problems and their Solving, Professional conference (July 14, 2000, Moscow) – 176 participants.


  5. Investment Opportunities in the Volga Region (within the framework of the All-Russian Scientific and Industrial Forum), Round Table (September 6, 2000, Nizhniy Novgorod) - 136 participants.


  6. Potential for Russian Companies Corporate Value Growth, Professional conference (October 19, 2000, Moscow) – 144 participants.


  7. Policy and Practice of Attracting Investments to the Regions of Russia, Professional conference (October 26, 2000, Moscow) – 210 participants.


  8. Methodology and Program Tools of the Investment Projecting, Round Table (December 14, 2000, Moscow) – 86 participants.


  9. Strategy of Urban Development in Russia, Round Table (February 15, 2001, Moscow)


  10. Problems of Corporate Governance in the Electric Power Industry of Russia, Conference (March 14, 2001, Moscow)


  11. Increasing of Investment Attractiveness of the Tula Region, Round Table (March 14, 2001, Tula)


  12. Methodology and Program Tools of the Investment Projecting, Typical errors. Round Table, (March 15, 2001, Moscow).


  13. Margin Trading in the Russian Stock Market, Round Table (29 March 2001, Moscow)


  14. Pressing Issues of the Trust Management: How to Invest in the Russian Stock Market, Conference, (May, 17, 2001, Moscow)


  15. Tax Reform in Russia: Prospects and Methods, Conference (29th May, 2001, Moscow)


  16. Strategy and Practice of Attracting the Investments in the Regions of Russia and the CIS Countries, Conference ( 14 June, 2001, Moscow)


  17. The Urban Development at Present Junction, Conference, (15th June, 2001, Moscow)


  18. The 5th Russian Investment Symposium, Symposium, (1-3 November 2001, Boston, USA); in cooperation with Dow Jones International and Harvard University


  19. The General Plans of Russian Towns in 21st Century, Conference, (15 November, Moscow)

Participants of the conferences include:
  • Companies representatives – 45%

  • Consultants and analysts – 32%

  • Financial institution representatives – 10%

  • Media – 8%

  • Federal and local authorities’ representatives – 5%

The IDI participated in the organization of the following Parliamentary Hearings:

  • Real Property Management, December 3, 1999.
  • Mortgage Lending: Legislative Prospects, March 10, 2000.
  • Russia's Transition to International Accounting Standards, May 25, 2000.
  • Improvement of the Legal and Regulatory Base for the Enhancing the Baikal Region's Production Complex (Baikal Pulp and Paper Mill): Property, Legal and Financial Mechanisms, August 29, 2000.
  • Stock Taking, Accounting, Evaluation and Registration of Taxable Property, October 16, 2000.
  • Property Registers: Current State and Development Prospects, November 13, 2000.
  • Concerns in the Regional Investment Legislation, November 30, 2000.


Specially for Parliamentary Hearing Concerns in the Regional Investment Legislation the experts of the IDI prepared an analytical report that contained recommendations on development and reforming of the regional investment legislation (this report included a model of the law on regulation of the investment activity on the territory of the Russian federal unit).

Being a structural division of the IDI, the Public Relations and Professional Public Events Department provides services to third parties (companies and organizations) on conducting public events (professional conferences, roundtables, workshops and so on). These services include but are not limited to:
  • Help and assistance in inviting speakers and participants;
  • Lease of conference halls, placing and providing food (lunches, cocktails) to participants;
  • Entire set of design services;
  • Technical support of the event (provision of presentation and org. equipment)
  • Full information support of the event including publications in mass media and Internet web-sites, regional and central newspapers, information agencies.


5. PR-Program

PR-campaign of the Foundation is oriented to the publicity of two major IDI's activities: Internet portal Investment Opportunities in Russia and professional public events (professional conferences, roundtables, workshops).

Special attention in the PR-program is given to the integrated essence of the IOR Project. All-Russian orientation of this project is the major factor of success. The project is positioned as a creative one. It means that while implementing the project no state budget funds are used and no re-distribution funds mechanism is involved. During the project a clear task is being implemented: to achieve information transparency of Russia in the investment sphere. At that, a long duration of the project is an obvious fact. Objectively, this project will give substantial results in 3-5 years. Thus, while demonstrating all the tactical successes the idea of long term of the project and distant perceptible results is being positioned.

Publishing articles on its public professional events the IDI illuminates the matters of topical interest in the investment area, possibility to establish contacts and to get involved in cooperation with representatives of foreign and Russian companies, consulting firms, and authorities. While implementing its PR-program Institute of Direct Investments cooperates with the central and regional mass media, newspapers, regional TV companies, advanced information agencies and virtual communication means of the Internet.