Tourism, media help lure Chinese investment — Tatarstan Investment Development Agency

Tourism, media help lure Chinese investment — Tatarstan Investment Development Agency TIDA Chief Executive Taliya Minullina emphasized the need to upgrade Chinese- and Russian-language payment servicesKAZAN, August 18. /TASS/. Tourism development and the media have had a multiplier effect on trade and economic cooperation between China and Russia, including in terms of luring investment, Taliya Minullina, chief executive of the Tatarstan Investment Development Agency (TIDA), said at a business breakfast titled, Russia and China – Building Cooperation through Tourism and Media, hosted by TASS as part of the fourth "SPROUTS: Russia and China – Mutually Beneficial Cooperation" International Forum. "It is tourism and the media that take the economic lead and spearhead the process of luring investment. Because people will never invest in land that they are not aware of. Originally, investors should have land awareness, then they should visit there, which means tourism, or rather business tourism. This takes us next to trade and a certain market share after which the investment process actually begins," Minullina explained. Tourism and the media have a multiplier effect on trade and economic development, she emphasized. And there is still work for Russia and China to do in these spheres, she added. "Both countries are rich in culture and history. And we have much to be proud of and a lot to show. A visa free regime is great, but very much remains to be done, including the training of personnel in the development of the tourism sector and, of course, on-site services that, frankly, are not available everywhere across China and Russia," Minullina argued. In particular, she said, Chinese- and Russian-language payment services, information resources and logistics from various Russian regions should be upgraded. The fourth "SPROUTS: Russia and China - Mutually Beneficial Cooperation" International Forum is taking place in Kazan on August 16-19. The program includes more than 50 business sessions. TASS is the event’s general media partner. 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