Today: Last Update:

  • Olympics are Key Theme for Sochi Economic Forum


    Russian President Vladimir Putin meets Friday with business leaders in Sochi. (Getty)  
    (ATR) Russian president Vladimir Putin is the headliner for an economic forum in Sochi this weekend, a key event in attracting private investment for the 2014 Olympics.

    Putin will meet with Russian and foreign business leaders on the opening of the three-day forum. Dmitry Chernyshenko, CEO of the Sochi 2014 transition committee, leads a session Saturday, focusing on Olympic opportunities for investors.

    Deputy prime minister Alexander Zhukov will report, while discussion panel includes Leonid Tiagachev, president of Russia's Olympic Committee, Russian sports minister Viacheslav Fetisov and Wang Wei, secretary general of Beijing 2008.

    Also Saturday is a conference session on designing and construction of Sochi 2014 Olympic facilities.

    The investment forum, now an annual tradition for Sochi at this time of year, is expected to attract around 10,000 people.

    Confirmed to attend are the

    heads of Russia's federal ministries and agencies, along with leaders of over 60 Russian regions and participants from Europe, Asia, North and South America. The total exhibition area is said to be about 50,000 square meters.

    With 40% of private funding needed under the Russian government's $12 billion federal investment program in Olympic infrastructure, the meeting offers plenty of opportunities.

    Under the Sochi 2014 bid, $806 million will be spent on construction of sports venues at the Olympic Park in the Imeretinskaya Valley south of Sochi. A total of 13 competition venues are to be developed for the Games - the largest number in the history of the Winter Olympics.

    A $4.4 billion chunk of the Russian government's spend on Games infrastructure is earmarked for improvements to the rail and road network.

    With reporting from Mark Bisson.

    Your best source of news about the Olympics is, for subscribers only.