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Eastern Economic Forum

Putin hopes for increase of efficiency, competitiveness of Russian oil, gas companies

Putin made the statement at a meeting with workers of the oil and gas industry on the sidelines of the Eastern Economic Forum

© Stanislav Krasilnikov/TASS

VLADIVOSTOK, September 4. /TASS/. Russian President Vladimir Putin said he does not doubt that the heads of domestic oil and gas companies will be able to ensure an increase in their efficiency and competitiveness.

Putin made the statement at a meeting with workers of the oil and gas industry on the sidelines of the Eastern Economic Forum (EEF).

He expressed the hope that Russian oil and gas enterprises "will increase their efficiency and competitiveness, reach new frontiers".

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"I have no doubts at all here, I have known nearly all leaders personally for many years. I also know the human potential and the potential of the industry," Putin underscored.

Addressing the meeting’s participants, Putin noted that today the oil and gas sector is a key sector of Russia’s economy, while Russia is among global leaders in terms of hydrocarbon production and energy resource exportation.

Russia’s first ever Eastern Economic Forum (EEF) is unique in its scale and the level of expertise of its participants as a platform for constructive dialogue between representatives of the international investment community, business, and the governments of both Russia and the countries of the Asia-Pacific Region (APR).

The forum runs September 3-5 in Vladivostok. It presents regional investment opportunities and projects. The overall sum of contracts and agreements prepared for the EEF is worth some 4.7 trillion rubles ($70.3 billion).

EEF objectives are: to improve relations between the international investment community, Russian business, and federal and local governments; to comprehensively assess the economic potential of East Russia, as well as the improvement of the competitiveness and investment attractiveness of the region, both at the Russian and international level; to present new conditions for investments and doing business by means of exclusive procedures created for East Russia - the Territory of Priority Development and the Free Port of Vladivostok.

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Vladimir Putin Oil & Gas Eastern Economic Forum

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