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VTB hosts Russia-Angola Business Forum

8 August 2013

VTB hosts Russia-Angola Business Forum.

The Russia-Angola Business Forum took place in the Angolan capital of Luanda on 7–8 August, 2013.
The event follows discussions held in October 2012 between VTB Chairman and CEO Andrey Kostin and President of Angola José Eduardo dos Santos.

Several Russian companies, including KAMAZ, RusHydro Group’s Gidroproyekt Institute and Uralvagonzavod, gave presentations at the Russia-Angola Business Forum. The Russian participants also heard about the potential of the Angolan market. Representatives of Gazprom Neft, Technopromexport, Inter RAO UES, Alrosa, Russian Railways International and Rosoboronexport also took part in the forum.

Russian and Angolan companies interested in collaboration had the opportunity to hold bilateral meetings to discuss existing and potential areas of mutually beneficial cooperation in railway infrastructure development, mining industry and energy.

The forum was addressed by Angolan Minister of Economy Abrahão Gourgel, Minister of Geology and Mining Francisco Queiros, Minister of Industry Bernarda Henriques da Silva, representatives of the Ministry of Energy and Water Resources and other government agencies. Russian Ambassador to Angola Dmitry Lobach gave a welcoming speech. VTB representatives spoke about the Group’s opportunities to structure various forms of financing in Angola.

Vasily Titov, First Deputy President and Chairman of VTB Bank Management Board, said: "VTB Group is actively developing on the Angolan market, where we see great potential. Russian companies are very interested in Angola and countries of the sub-Saharan region. We are ready to help Russian companies reach those markets and to fund their projects. I believe this forum will contribute to economic collaboration between our countries through new agreements between Russian and Angolan companies."

Banco VTB Africa SA is a Russian-Angolan bank, a subsidiary of VTB Group. The bank has been operating in Angola since 2006 and focuses on the development of corporate investment business.

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