Ilgiz Valitov: development of business international cooperation makes it possible to attract foreign investmenteffectively One of the major investment projects with the direct involvement ofIlgiz Valitov – asuccessful Russian TOP Manager – wasprovided with profitable financing from Asian bankers. Here are more details about the construction and launch of a new, modern industrial facility – the Asia Cement plant in Penza region. The plant became the leader of its industrial sector of the economy. A lot of work, a great work needs to be doneto achieve such a result. Sometimes a lot depends on the professionalism, experience, skill, and knowledge of one person. Experts associate the opening of a unique, modern production facility Asia Cement in Penza region six years ago with the direct participation of Ilgiz Valitov, who was the Head of the Directorate of natural resources and construction of Vnesheconombank that time. It was his competent, well-adjusted approach that allowed him to attract additional significant funds from foreign investors (more than $ 133 million) and to launch a giant industrial facility, which is confidently among the leaders in the construction industry in Russiatoday. It should be noted the investment project in Penza region, implemented under the patronage of Ilgiz Valitov, is one of almost 200 such projects implemented by him as a Head of various divisions in leading Russian banks over the past ten years! ANY TASKS ARE FEASIBLE The Asia Cement plant (Penza region) that was launched in 2014is a leading industrial enterprise in Russia.Today, the company occupies a leading position in the market, producing almost 2 million tons of finished products, providing jobs for more than 500 employees. It is enough to cite thefollowing fact: this July a historical record was set for the plant, it was the exceeding of indicators reached in May by15%. Over-fulfillment of the budget plan was 19.7%. This figure increased by almost 49.6% in in comparison to the same period last year. The company is out of restrictions without losses. According to the Asia Cementleaders, the company managed to achieve such indicators due to the efficient work of all departments, – from those who extract raw materials in the quarry to those who ship finished products, -due to constant production upgrade. This success is a confirmation of the stability of the company and the qualification of employees, of their desire for new work achievements. The team of the company Asia Cement has proved once againthat it can solve any tasks. SUPPORT FROM FOREIGN CAPITAL The key to successful operation of the company today is effective investments in the recent past. And here we need to return to the human factoragain. More precisely, we need to return to the work that was carried out at the initiative of Ilgiz Valitov, who had been heading the Directorate of natural resources and construction of Vnesheconombank for several years. Ilgiz Valitov promoted and implemented the project to launch this modern, highly efficient Russian production. We would like to emphasize that environmentally efficient technologies for dry cement production were used in the construction process. VEB, having acquired a 49% stake in Asia Cement, invested more than $ 86 million in the construction of the plant. We would like to emphasize that Eximbank of China invested another $ 133 million in Asia Cement at the initiative and through the mediation of Ilgiz Valitov! It should be emphasized – accordingto experts the cost of Chinese loans to Asia Cement was 50 percent cheaper than Russian ones. Of course, we are talking about effectively attracting foreign investment in Russian business by Vnesheconombank and Ilgiz Valitov personally. WORK ON THE RESULT, RESERVE FOR THE FUTURE Today the investments work for the result. It is enough just to quote some figures. Every day the plant ships more than 8 thousand tons of finished products, and the annual shipment figures are more than 15 thousand railcars and more than 33 thousand heavy trucks. The plant's products have repeatedly been included in the "100 best goods of Russia".The company implements a number of socially significant projects. It is a sponsor of a number of sports organizations, and conducts active charitywork… Today Asia Cement is systematically upgrading its production facilities and developing its production processes. Both in the recent past and now this approach allows seeing and creating prospects for future development. For reference: when the project was implemented, Ilgiz Valitov emphasized the need of creating a highly efficient world-class production complex. Thisisexactly the kind of visionary forward-looking approach that has allowed the company to be competitive in the market today. Exactly the dry method of cement production is the most economical nowadays. It should also be underlined the Asia Cement Plant is almost 100 percent automated. An automated process control system from Siemens is used there. Asia Cement provides consistently high quality products through full and continuous monitoring at all stages of production – fromraw material extraction to shipment of goods by road and rail. In addition Ilgiz Valitov attaches great importance to the environmental safety of production. As before and now, the main environmental challenges remain the reduction of pollutantsemission into the atmosphere and rational use of natural resources. To solve these challenges, the plant has implemented a number of the best available technologies. In particular: the dry method of cement production has low pollutants emission. During the construction of the plant, recycled water supply was immediately provided as the most economical and progressive method of water supply for production. This method allows you to use the same waterrepeatedly in technological processes. The polluted waste water is used again for industrial purposesafter cleaning. The firing process is alsocontrolled using an automatic emission control system. Modern high-efficiency electric and bag filters are installed at the technological units which are organized sources of dust emissions. They capture dust with up to 99% efficiency. Both production and environmental tasks are fully implemented at the enterprise. INVESTMENTS ARE CALCULATED IN DETAILS Ilgiz Valitov, working in the Directorate of Vnesheconombank and overseeing the natural resources base development and construction in the regions, carefully and competently calculated the prospects, profitability of production, infrastructure and market conditions, focusing on direct investment in the framework of international cooperation with the Chinese side. In particular, it was emphasized that Asia Cement is the first and currently the only plant in the Penza region for the production of cement. In addition, the proximity of the raw material base – theSursko-Maisskoye chalk and marl deposits – wastaken into consideration at the stage of selecting the location of the plant. Reserves of raw materials can ensure stable operation of the plant for 100 years or more. Experts noted the method of extraction is quite inexpensive – carbonaterock (chalk) is extracted here by direct excavation and delivered immediately to the plantby dump trucks. On the part of Ilgiz Valitov, the attraction of Chinese investors was also calculated and worked out in detail. In fact, the plant was built on the basis ofChinese colleagues’experience, as China is a leader of the cement industry. The country produces 2 billion tons of cement annually;it is almost half of what is produced on the planet per year. Experts from China designed and participated in the plantconstruction in Penza region using advanced European and world design and technological solutions. In this regard, it is enough to say that the plant reached its design capacity of almost 1.9 million tons of cementa year later (!), and now it is increasing its annual production volumes. Ilgiz Valitov also calculated the issues related to plant equipment. In addition to Chinese equipment, automated and electronic systems of European production are widely used here. Promising investments allow talking about the further use of alternative fuels – sortedmunicipal solid waste, as it is done in a number of advanced countries. IMPLEMENTATION OF A LARGE-SCALEPROJECT It is obvious that almost none of the countries with a market economy is able to develop effectively without attracting foreign investments and technologiestoday. Concidering both Russian and international experience,foreign investments, including direct investment always helps to modernize the industrial baseas soon as possible and increase its production potential. At the same time, domestic technologies are also developing, adopting the best and most effective from their colleagues. Foreign companies and banking structures bring their own experience in organizing and equipping productionwhen they are investing money and technologies in the construction of industrial sites in Russia. It was the development of international cooperation in attracting foreign investment by Vnesheconombank, with the direct organizational participation of Ilgiz Valitov, which eventually made it possible to implement a large-scaleproject for the Asia Cement plant commissioning in Penza region. A significant 50 percent reduction in the cost of investment with the attraction of capital from Eximbank of China helped the company to develop and to become one of the leaders in the Russianconstruction industry. The capital of the Chinese partners was used to pay forthe work of the General contractor and equipment supplier – aConsortium of the Chinese State company for the import and export of machinery. All the efforts of Ilgiz Valitov as Head of VnesheconombankDirectorate of natural resources and construction were aimed at implementing a variety of investment projects, most of which are as large-scale as the commissioning of the Asia Cement plant. Foreign investments with competent decisions clear economic calculations, support, as well as the negotiation process, professional approach of Ilgiz Valitov, including those related to working with regional authorities; give a significant result, ensuring the growth of socio-economic development of individual regions and the country as a whole.

The investment project in the Omsk region, which was implemented with the direct participation of Ilgiz Valitov, head of the Directorate of natural resources and construction of Vnesheconombank, today shows significant economic growth and efficiency of financial investments in this one of the most important industries in Russia. Experts in the banking sector note that Russia has a large number of tools that help the country, and, in particular, the regions, to make maximum efforts to attract investment. But it is one thing to talk about such a product, to present such schemes, and another to implement them, effectively investing in the construction of innovative production sites. FROM SCRATCH, IN THE OPEN FIELD One example of such effective investments is the work of one of the country's leading TOP managers, Ilgiz Valitov. As head of the Directorate of natural resources and construction of Vnesheconombank, he was able to work out and implement an investment project for the commissioning of the Poliom plant in the Omsk region. Then VEB invested more than 11.3 billion rubles in the construction of the enterprise. The plant, as they say, was built from scratch, in an open field, using the most advanced technologies. Today, the Omsk Poliom plant provides jobs for more than 400 employees. It is one of the participants of the Petrochemical industrial cluster of the Omsk region, is one of the domestic leaders in the polypropylene market-one of the three largest Russian producers and exporters of polypropylene, and one of the main taxpayers of the region. By the way, in February 2020, the territorial body of the Federal state statistics service for the Omsk region for the third time named LLC Poliom the most efficient enterprise in the Omsk region. TO CONSIDER ALL THE FACTORS When attracting investment in this project, Ilgiz Valitov took into account a number of factors that could lead the plant to a leading position in the industry in the future. In particular, the demand for products in the domestic and global markets, the quality of the finished product, the investment climate in the region-the ability of regional authorities to provide investors and companies with certain benefits. So, for example, they talked about a reduced tax rate of income tax, the provision of exemptions from payment of tax on property on other taxes in part credited to the regional budget financial support in the manner prescribed by Federal legislation and legislation of Omsk region. Ilgiz Valitov took into account all the factors that reduce the risks of the investment project, and the mechanism for building a new, advanced enterprise was launched. It should be noted that almost one and a half thousand specialists from more than 120 contractors from Russia, Italy, Japan, Germany, India, the Netherlands and other countries participated in the construction and launch of Poliom. Ilgiz Nailevich's professionalism as a competent and efficient investor representing Vnesheconombank has become a significant support in organizing the work of such a large number of specialists and contractors. INCREASED THE DESIGN CAPACITY Already in 2016, the plant celebrated the release of 500 thousand tons of polypropylene. Top officials of the Omsk region government and the city hall came to congratulate Poliom on this event. Then it was announced that half a million tons of the product will go to the domestic Russian market. At that time, the plant reached its annual design capacity of 180 thousand tons, producing even more than the declared volume of 10 thousand tons or more. The investments made by VEB give their real results and show the payback of the project. Moreover, the plant managers also invested additional funds in expanding production and increasing the volume of finished products. Today, the production capacity of the company is 218 thousand tons of products per year (34 grades of polypropylene). The management of the plant once again reminded and stressed that the construction of Poliom was carried out on the terms of public-private partnership with the involvement of Vnesheconombank funds, the Total investment amounted to more than 11.3 billion rubles. At the same time, the region's leaders extended the period of tax preferences for polypropylene producers. STABILITY AND PREDICTABILITY The stability and predictability of regional regulatory policy has also become one of the factors of Ilgiz Valitov's effective work. Working in this direction with the regional authorities was the key to the success of Vnesheconombank's investment project in relation not only to the Poliom plant, but also to almost two hundred equally large-scale and successful, and in a number of cases, system-forming investment projects implemented with the participation of Ilgiz Valitov. Today, the work of Polioma gives an opportunity to develop other sectors of the Russian economy, domestic small and medium-sized businesses, and also increases export supplies to other countries of the world. A wide range of finished products is made on the basis of polypropylene – from plastic cups, dishes to car and airplane parts. The supply of such products to the domestic market opens up great opportunities for Russian manufacturers of finished products, frees entire industries from import dependence. For reference: The current license of the Poliom plant allows to produce 98 grades of polypropylene. Today, we have mastered the production of more than three dozen brands of commercial products, including propylene for the production of disposable tableware, fibers and undirected single - and multi-layer injection films. Polypropylene is used for the manufacture of sheets, sleeve film, fibers, pipes, fittings, non-woven materials, monofilament, film thread, packaging materials, technical products and consumer goods, children's toys, medical products, products for the food industry, as well as for the manufacture of products in contact with drinking water, pipes, fittings, filter fibers for use in the practice of household and drinking water supply. Polypropylene is a crystalline thermoplastic transparent polymer without color or smell. It is characterized by high chemical resistance, strength, rigidity and abrasion resistance, low density and high heat resistance. ECOLOGY IS A STRATEGIC PRIORITY One of the priority directions in the investment policy of Vnesheconombank and Ilgiz Valitov is a responsible attitude to the environment and to solving environmental problems. Ecology has also become a strategic priority for the Poliom plant. For example, the company uses the European eco-friendly Spheripol technology of LyondellBasell Industries (Netherlands), which is included in the list of the best available technologies. The plant has also implemented the international standards of environmental management and energy management system ISO 14001 and ISO 50001. Within the framework of these standards, the plant systematically reduces the load on the environment and continuously upgrades equipment and processes. Experts confirm that the plant's activities comply with the established standards in the field of environmental protection. Poliom, in accordance with the regional comprehensive plan to reduce emissions of pollutants into the atmosphere, is also implementing a major investment project-the construction of hydrocarbon gas recovery and compression plants. For reference: the Poliom Plant was the first in the Omsk region to implement the practice of separate waste accumulation. At the plant, scrap metal, cardboard, wood, and polymer industrial waste are accumulated separately and transferred to specialized companies for further processing. EFFECTIVE PROJECTS Minimizing investment risks is one of the main tasks of the financial sector of the economy. Judging by the results of one of Ilgiz Valitov's successful and efficient projects for the construction and commissioning of a plant in the Omsk region, such investments have brought real results. A thorough preliminary analysis of the investment object, a forecast of market development, supply and demand, an asset management strategy, and standards for conducting business processes within the company were implemented. as an investor, Vnesheconombank's Ilgiz Valitov performed all the necessary procedures and performed all the necessary work. The Poliom plant today is the latest equipment, modern technologies that allow the company to conduct the production process efficiently, reliably and safely. This approach to attracting investment to the regions of Russia, we recall, allowed Ilgiz Valitov to implement many (about two hundred) large-scale projects in the country and abroad. As practice shows, such effective projects even in times of crisis, when the economy is "stormy", show their viability. As well as TOP managers who implement such investment projects in various parts of Russia.

It’s about one of the successful, large-scale investment projects implemented in the Leningrad Region under the auspices of Ilgiz Valitov – oneof the leading Russian top managers. The opening of new, modern production facilities in Russia, both yesterday and today, is a time requirement. It is the high-tech industrial sites designed for processing, the finished products manufacturing that meets international and European standards which make it possible to work effectively today, compete both for individual markets and entire economy sectors. Competent, effective investment policy in certain economy branches allows creating new business areas. Such an approach from Ilgiz Valitov, one of the successful and experienced top managers of the country, allowed opening and developing at least two hundred new modern production facilities in all parts of Russiaduring his years. Working at senior positions in large industrial companies, as well as heading certain regional and structural sectors in Vneshtorgbank and Vnesheconombank, Ilgiz Valitov managed to conduct an effective investment policy. The funds invested in the development of industry give positive results. It means thousands of new jobs, saturation of the market with high-quality, competitive products in demand, and tax outlays to budgets of various levels. LAUNCHED THE FACTORY IN TWO YEARS One of the major and successful investment projects implemented with the participation of Ilgiz Valitov (then Director of the regional development Department of Vnesheconombank) is the construction and launch of a new line of concrete production plant in Slantsy, Leningrad region. In 2009, VEB invested more than 237 million euros in the project for a 10-year period (total costs amounted to 442.2 million euros). Two years later, the plant, which is a part of the LSR Group (the company is one of the largest concrete consumers in Russia), has already started to produce its first products, thereby meeting the growing needs of the holding in this building material.The launch of the new plant made it possible to start implementing large-scale plans for the construction of various facilities, including civil and social facilities in the Leningrad region and other regions of Russia. Ilgiz Valitov notes that already at the start of the investment project in Slantsy, he guided the leaders of the LSR Group to design, build and launch a plant that would not only "produce high-quality products", but also wouldmeet the requirements of energy efficiency and environmental friendliness. It was the task that was finally solved. Now the plant produces almost 2 million tons of concrete annually.The fact puts it on the leading position in this sector of the industry market. We also note that the company currentlyemploys more than 400 people. LEADING MANUFACTURER The plant has become one of the leading concrete producers as a result of a competent, balanced investment program developed by Vnesheconombank and the head of Its Department Ilgiz Valitov. The new LSR group concrete plant has become one of the most energy-efficient industrial enterprises in the world. So, to provide electricity to the plant a modern and reliable electric substation was built and a pipeline length of 14 km was put into operation (by the way, the new gas pipeline also provides blue fuel to nearby settlements).The efficiency of the enterprise is also due to the fact that the plant has its own raw material base: large reserves of limestone and clay are located near the industrial site. At the initial stage of the investment project, working through all the details, Ilgiz Valitov determined the competitive advantages of the enterprise. Thus, the most effective dry production technology has been applied at the plant, which partially uses the waste of shale production in the manufacture of concrete.This reduces the energy consumption of production lines by more than 40%.It should be noted that already at the start of the project, market participants said that the cost of concrete of the new LSR group plant will be from 10 to 40 percent lower than that of other manufacturers. ECOLOGY AND ENERGY EFFICIENCY The plant “LSR Cement" can rightly be considered today as the best example of environmentally friendly production.Implementing the investment program of Vnesheconombank Ilgiz Valitov also aimed at the target. So there should be focus on providing new technologies and environmentally safeproduction that reduce fuel consumption and emissions of pollutants. A great number ofdumps obtained once during the extraction, processing and enrichment of oil shale have been accumulatedwithin the city of Slantsy limits.They cover more than 400 hectares of land that has been taken out of circulation. The dumps are used as additional raw materials for the concrete production.The land is gradually being released and becomes suitable for use again. It also solves the most important environmental problem in the region of presence. As expected at the beginning of the investment project, the technology and equipment level of the plant allows considering it as one of the most environmentally friendly production facilities in Europe in accordance with European environmental standards. Due to this, in addition to economic benefits, the new plant has important ecological dimensions for the city of Slantsy and for the Leningrad region. In the environmental policy, the plant's managers still maintain the positionof implementing "lean production" technologies, which means preventing environmental pollution and restoring disturbed ecosystems. For reference: -The more stringent standards for maximum permissible emissions than in the whole countryhas established at the plant "LSRCement". They meet the highest international environmental standards. - All sources of air emissions are equipped with bag filters and parameter monitoring. The monitoring is carried out automatically directly at the point of emission that allows keeping track releases in the zone of maximum concentration. - All warehouses for storage of bulk materials and production buildings are closed. They are equipped with the latest aspiration systems. Bulk and bagged concrete is shipped using the most advanced dedusting systems in automatic mode. This makes it possible to avoid the spread of dust and noise into the environment. - Low fuel consumption is provided. - The plant can also be operated by burning alternative fuels (by-products of manufacturing and utilities sector). There is a technological possibility of processing excess heat from the furnace line into electricity. It allows providing more than 40% of the energy required for the operation of production lines POPULAR PRODUCTIONS The large-scale investment program at the plant “LSR Cement” is one of about two hundred successful financial projects implemented with the participation of Ilgiz Valitov in various parts of Russia. Those are new plants, production lines, and industrial complexes covering the construction, chemical, oil refining, machine-building, metallurgical, mining, and other major industries. Theyhelp to the economic and social development of entire regions and the Russian economy as a whole. They are effective investments in payback, profitable projects that allows entire industries and separate productions for forward-looking work, implement other development directions, and look confidently into the future. Projects under the auspices of Ilgiz Valitov are aimed at creating such stable, highly efficient production facilities which are in demand on the market and targeted on results.

The participation of Ilgiz Valitov,one of the country's leading top managers, in the implementation of an investment project in the Lipetsk region has almost halved Russia's dependence on foreign supplies of antitumor medicines and antibiotics. In recent years import substitution issues are among the most relevant and discussed in terms of development, prospects and security of the domestic economy. But it happens that behind the words, declarations, some theoretical calculations there are no specific cases orimplementedprojects. We will cite one of the brightest examples of the entire manufacturing industriesdevelopment, thatmade it possible to offer products successfully replaced similar imported ones. This is oneof the effective, targeted investment projects implemented with the participation of Ilgiz Valitov, Head of the Directorate for Natural Resources and Construction of Vnesheconombank:the opening of a large pharmaceutical production facilityin the Lipetsk region. The credit line from VEB was provided to Rafarma JSCfor the construction and launch of new production of antitumor medicinesin the region. The project received a positive expert assessment from Vnesheconombank specialists and personallyIlgiz Valitov, who was directly involved in the consideration and implementation of this investment program, determining the amount of funding at 2.7 billion rubles. In addition to economic performance indicators of production efficiency, the socially significant aspect of the project was taken into consideration. The main goals and objectives are to fill the domestic pharmaceutical market with Russian-made products.The citizens' life and health dependsonthe kind of products as well asthe country's health facilities. In addition, the task of import substitution of this important pharmaceutical direction has been set and completed. It should be noted that at the implementation stagethe project was also supported by the government of the Lipetsk region, the Ministry of Health and Social Development of Russia, as well as the Federal Ministry of Industry and Trade. LARGE-SCALE, INNOVATIVE As shortterms as possiblethe site and much of the infrastructure were prepared for the opening of a new plant by the administration of the Lipetsk region together with the VEB Directorate of Natural Resources and Construction, headed by Ilgiz Valitov, in the "Terbuny" Special Economic Zoneof the regional level industrial-production type (EEA RU "Terbuny"). With the participation of Ilgiz Valitov, the full range of organizational and financial issues for the construction and launch of modern pharmaceutical production was considered. It should be noted that one of the main tasks in the construction of such facilities is compliance with a number of environmental regulations. Thus, the site for the future plant was chosen on the condition that it should not be located on the agricultural contaminated place. It should not have side water drains and be located away from other industrial facilities. Such conditions are of paramount importance for producing oncological substances. The location was carefully selected taking into consideration all environmental standards. In the end, all the conditions have been met. Ilgiz Valitov, studying and analyzing the prospects of the new plant construction, together with specialists set the task of launching a full-cycle pharmaceutical complex. This task has been successfully solved, including the aim of creating the most efficient production facility. Today, RafarmaJSC is one of the strategic enterprises for the Lipetsk region. More than 400 jobs have been created at the factory. The full cycle pharmaceutical complex in the territory of the EEA RU Terbuny is one of the largest innovative projects of the pharmaceutical industry in modern Russia. The production of antibiotics and cytostatic agentsis key direction of the strategy for the development of domestic pharmaceuticalindustry implementation, including in the framework of import substitution programs (the federal program "Strategy for the pharmaceutical industrydevelopment in the Russian Federation"). PRODUCTS ARE COMPETITIVE IN PRICE AND QUALITY The planthas essentially become an innovative platform for the production of antibiotics, antitumor and other medicines in accordance with modern quality standards. The volume of medicines produced in the Lipetsk region has actually halved procurement of imported drugs that were previously supplied to the domestic market. In particular,already today the production of antitumorpharmaceuticalsmeets the needs of six regions of Russia today: Moscow, Moscow region, Krasnodar region, Tatarstan and Bashkortostan. Let us repeat that the investment project implemented with the participation of Ilgiz Valitov, in general, made it possible to reduce the share of such imported pharmaceuticalson the domestic market by more than half. In addition, the cost of the medicinesis competitive in the pharmaceutical marketand the target was laid down at the beginning of the investment project. For reference: RafarmaJSC is an innovative full-cycle pharmaceutical complex for the production of antibiotics, antitumoragents, as well as other medicines in accordance with the EU GMP standard. The planton the territory of EEA RU "Terbuny" was built by the largest European companies. RafarmaJSC production complex has the optimal layout - five separateworkshops with isolated air and watertreatment systems - for the production of various groups of antibiotics and cytostatics in accordance with the EU GMP standard. The company is equipped with production lines of the world's leading manufacturers of pharmaceutical equipment: GLATT, Kilian, RomacoMacofar, IMA, CAM, Fedegari, Tofflon, etc. The Pilot Department in the "clean" premises allows conducting clinical trials and pharmaceutical examinations, to scale up R&Ddevelopments, to work out regulations before launching a new product into industrial production.Thecompany has equipment and licenses for the production of medicines in 15 dosage forms.Allstages of the production process as well as construction and equipment installation are controlled by the Quality Control Departmentand the authorized representative of the Russian Ministry of Health. The company is fully staffed by highly qualified engineers, technologists, chemists, microbiologists, quality specialists. STRATEGICALLY IMPORTANT DECISIONS The new RafarmaJSCproduction facility created from scratch in the Lipetsk regionis one of the successful projects of Vnesheconombank andpersonallyIligizNailevich Valitov. (Over the years of his work in the financial sector about 200 investment projects in various spheres and sectors of the economy were implementedwith his participation.)A detailed analysis of the markets and the adoption of strategically important decisions allowed VEB to pursue a competent credit and financial policy in the various sectors of the domestic economydevelopment. Ilgiz Valitov emphasizes that national interests and domestic productscompetitivenessisamong the decisive aspects in the implementing the import substitution policy. The opening of production facilityin the Lipetsk region is a striking indicator of this approach, which allows resolving issues of Russia pharmacological security. Moreover, today JSC Rafarma's products have a high potential both for substitution expensive medicines produced abroad with high-quality Russian products at an affordable price, and for export. For reference: - Today, the volume of tax payments of Rafarma JSC in the Lipetsk region is approximately 4 billion rubles. - The company is included in the Register of Promising Projects in the Pharmaceutical and Medical Industry of the Ministry of Industry and the Ministry of Trade of the Russian Federation. - Rafarma's production facilities are able to provide high-quality and effective antibiotics and antitumormedicinesfor certain items from 15% to 100% of the Russian medicine market at a price 1.5-2 times lower than imported analogues. - The plant produces (annually): 1.5 billion tablets, 180 million solid gelatin capsules, 62.5 million vials for injections, 7.5 million vials of suspensions, 18 million packets of "sachets" - preparations packaged in flat four-seambags. - The company actively supports the projects of the PROTEK CharityFoundation, which cooperates with the pharmaceutical industry. The leaders of the Rafarma JSC in the Lipetsk region are guided by the principles of business philosophy, where the creation a healthy future for Russia is an integral part. The company participates in the main charity projects of the Foundation: "Health for People," "New Life" and a number of others. The fund works in85 regions of the country and provides free medicines and free medical care for the socially vulnerablegroups of people. IN ACCORDANCE WITH STATE PROGRAMS The investment policy of financial companies is implemented in accordance with the state economic developmentprograms, including import substitution. It goes without saying that such substitution is not carried out randomly, but in accordance with adopted strategic programs and projects, and it also aimed at the integrated strategic developmentof the country, changing its role and image in the world markets. It is extremely important to outline the principles, tasks, the purposes, mechanisms, ways and instruments of their realization. The experience of Vnesheconombank and personallyIlgiz Valitov, the Head of the VEB's Natural Resources and Construction Directorate, as practice has shown, made it possible toimplement the most importantinvestment projects. The most important tasks were carried out to create modern, innovative, competitive production facilities in Russia which are aimed at creating added value, making a profit, and opening new jobs. Ultimately itis targeted at the development the industrial and production potential of Russia.