South Ossetia has managed to establish cooperation with large credit institutions of Russia, - Deputy Minister of Economic Development Dmitry Volvach said at the meeting on socio-economic cooperation between the Russian Federation and the Republic of South Ossetia.
He summed up the results of joint work over the past year, noting significant achievements in attracting investment and developing the economy.
"We have learned to attract credit funds to the Republic," Volvach said. - Large credit institutions of Russia work with investors and large investment projects, and, despite the risks, loans are being issued, new enterprises are being built."
He noted the opening of new production facilities and the entry of the South Ossetian products into the Russian market.
"I am very glad to see how the products of these enterprises are entering the Russian market," Volvach said. - Successes are also observed in promoting the South Ossetia brand. Remember how we started, setting the task of making the South Ossetia brand recognizable in Russia? Today at the Prodexpo in Moscow, the South Ossetia stand is very interesting, attractive, and there are already the first awards and recognitions."
Volvach noted the role of entrepreneurs and state support in achieving these results.
"The plans for the future include developing a new five-year state program for economic development.
We want to form a holistic vision of the future of the Republic's economy, identify key projects in each industry and focus attention, support and resources on them," Volvach has clarified.
He stressed the importance of responsible resource allocation and careful monitoring of the program implementation, given the constantly changing circumstances.
"We must understand the full responsibility for decision-making and their impact on the Republic's economy," the Deputy Minister has concluded.
