Sochi forum to lure big business fish

The forum in Sochi set to start on September 20 is an opportunity for business leaders to strike multi-billion deals.

And organising the event is anything but cheap, says Natalya Borisova, deputy chair of the National Agency for Direct Investment: “It is difficult to estimate the total cost of the event, but our organisation is in charge of all events that have to do with Russia's southern regions – and that's around $US 2 million,” she estimates.

Rent at the forum pavilion can be anywhere from $US 150 to $US 4,000 a square metre. The price depends on how sophisticated the stand is and what sort of technology is used.

One of the most sophisticated stands represents the Rostov region. It showcases a mini-golf course featuring live fish.

While the Krasnoyarsk region’s stand displays an imitation of the aurora borealis – northern lights.

Aleksandr Vikhrov, Uralsib Executive Director believes the event is a good business opportunity: “There are a lot of people and a lot of offers. You can call this a bazaar, and just like at a bazaar, the winners are those who know how to sell their products.”

The event organisers hope all the cash put into the forum will pay off.

The region as a whole is expected to attract an estimate $US 43 billion over the next five years. That should be enough to make Russia’s south a beacon of the country’s economic development.