Head of Russia’s Kabarda-Balkaria discusses local economy with businessmen

KABARDINO-BALKARIA, 30 January, Caucasus Times.President of the Kabarda-Balkar Republic Arsen Kanokov has held a meeting recently with the business elite of therepublic.

Highly contradictory figures were heard during the process of dialogue between the authorities and entrepreneurs. The primary instrument in the search for the truth was the statement of the previous day by Russian presidential plenipotentiary in the Southern Federal District Dmitriy Kozak in which he announced the frightening statistic that the scope of the “shadow” economy in the south of Russia totalled R50bn, which comes to slightly less than federal subsidies, which stand at R47bn.

Kanokov called for an emotionless examination, based on the current reality, clear thinking and economic laws, into the business situation in today’s Kabarda-Balkaria.

The head of the republic did not hide that his most immediate concern was the creation of a real economy in the republic. As of 1 January 2006, there were up to 2,500 small businesses in the republic. Their share of the GDP does not exceed 21 per cent. There is, quite unfortunately, nothing to be proud of. There are thus far no rules or tight control over the development of small and medium-sized business in the republic.

Kanokov proposed a thorough investigation into the business situation and the transition to a well thought-out, effective strategy for the development of economic rights and freedoms of the citizens of the republic.

Prominent businessman Valeriy Kurshev said that “the emergence of a private sector of the economy of Kabarda-Balkaria that is capable of successful economic development is vital for the people, like air”.

Kanokov answered the proposals and ideas put forth by the entrepreneurs of the republic with a promise to pursue a stable and consistent government policy on issues of business development and called on businessmen who hide their opportunities to “come out of the shadows.”

Prominent bankers, economists, heads of small and medium-sized businesses and farmers took part in the preliminary work on the development of a long-term strategy for small and medium-sized business in the republic and the discussion of “difficult” issues of cooperation between business and government representatives.

Madina Dyshekova, Nalchik, Caucasus Times

Leave a Reply

Your email address will not be published. Required fields are marked *