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The Yalta International Economic Forum 04.12.2016 05:33

The Yalta International Economic Forum (YIEF) is an international business event in the economic sector that is annually held in Crimea (Yalta). Along with the St. Petersburg International Economic Forum (SPIEF), the Eastern Economic Forum (EEF) and the International Investment Forum in Sochi, the YIEF is one of the top-four economic forums held in Russia. The YIEF is held under the auspices of the Presidential Executive Office of Russia. The YIEF has achieved the status of an effective international platform to discuss socioeconomic development issues, where the current agenda and challenges to the global economy can be effectively addressed.

An important YIEF focus is on searching for fundamentally new approaches and instruments to effectively address socioeconomic development issues and discuss the best global business practices. YIEF discussions are built around the search for ways to respond to new challenges and cover a broad range of topics: the establishment of a competitive, diversified contemporary market economy that does not depend on export of natural resources, effective engagement between business and the authorities, promotion of competitive innovative manufacturing methods, mechanisms to make full use of human capacity, and support for small and medium-sized business. Emphasis is also placed on international and inter-regional cooperation.

Speakers at annual YIEF events include Russian top-ranking officials, international experts, authoritative international and Russian businessmen and economists, representatives of major business communities and other opinion leaders.

The YIEF is the main Russian platform for showcasing Crimea’s investment opportunities and capacity. One of the key unique features of the region is the country’s only free economic zone that encompasses the entire territory — the Crimean Federal District. The zone offers significant tax incentives, accelerated depreciation of fixed assets, and the free customs zone regime. Other advantages include the low minimum investment requirements for residents and simplified procedure for acquiring the status of a resident. The YIEF traditionally features an exhibition of investment projects. Prospective investors are enabled to communicate with officials, including with Sergey Aksyonov, Head of the Republic of Crimea, who also chairs the Organizing Committee.

On the final day of the Forum, a meeting is held at Livadia Palace between the Head of the Republic of Crimea and representatives of the business community attending the Forum. The meeting is traditionally held behind closed doors, without media representatives, for any participant to share concerns, ask questions, and receive answers directly from the head of the region.

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