Корпорация развития Самарской области

General Information

The Corporation was one of the first projects aimed at establishing regional development institutions in Russia. At the beginning of 2009, despite the world financial crisis, the Corporation began implementation of investment projects with high priority for the region.

The main principles of “Samara Region Development Corporation” OJSC are defined in the Concept of establishing and operating which was approved by the Government resolution of the Samara region No. 137 of 14.05.2008 and they involve implementation of the investment projects approved by the Board of directors and strategic for the Samara region by means of “creation of direct and indirect conditions under which the participation in implementation of such projects will become beneficial for private investors”.

Main principles of the Corporation activity:

1. Private Public Partnership

Necessary investment resources of the Samara region and business are combined within the Corporation with the aim of increasing the amount of private investments to the economy and the infrastructure of the region, and in order to reach this aim the Corporation uses the whole range of mechanisms and tools, financial schemes that are based on the legal ways to attract private, state, municipal investments to the strategic investment projects of the region.

2. Optimum volume.

Volume and forms of the Corporation participation in implementation of each investment project shall be necessary and sufficient for making the ongoing investment project attractive for private investors and (or) appropriate for implementation of state investments.

In these conditions the Corporation participation in the investment project is subsidiary and it compensates the obstacles and restrictions for private investments in the certain project.

3. Legitimacy.

The Corporation is the tool for harmonization of private and state interests based on the precedence of law. Ownership structure, management scheme and decision- making system, as well as the ways of consolidation of private and state interests used by the Corporation are based on the principles and rules of Russian and international law.

4. Profitability.

Using the maximum of its potential as well as of the resources of its founders, the Corporation creates conditions for profitability and acceptable return on invested capital in implemented investment projects (subsidiaries etc.). Earned profit is reinvested in investment projects.

5. Openness (transparency).

The Corporation is a public institution opened for participation and cooperation with different investors who are interested in implementation of projects with the Corporation participation and it ensures the transparency of its strategy, procedure for selection of investment projects, decisions made and results of activity.

6. Flexibility.

The Corporation is a multy-purpose institution which is intended for implementation of investment projects aimed at the development of industrial, natural-resources, ecological, labor, infrastructural, social, financial, agroindustrial and other potentials of the Samara region.

7. Ecological responsibility.

The Corporation participates in implementation of investment projects that conform to the ecological legislation and environmental standards and, as a consequence, these projects are safe for the environment.

8. Social performance.

During the implementation and supporting of projects, the Corporation proceeds from the necessity to improve living standards of population of the Samara region as a result of implementation of these projects.

9. Effectiveness.

Operating efficiency of the Corporation is estimated on the basis of a system of indicators (indicators of economic, financial and social effectiveness) which reflect the direct results (targeted aims) and overall operating efficiency of the Corporation as a whole and the efficiency of implementation of certain investment projects.

24
eng