ABY Managing Partner Made a Speech at the V Global Forum of the Financial University.

There were 3404 registered participants, including leading Russian legal experts, economists, political scientists, entrepreneurs and significant members of the Russian legal community, as well as foreign guests – lawyers, scientists, politicians, diplomats, – from 32 different countries.

On first day the event started with the plenary session with the following speakers: A.L. Kudrin, the Chairperson of the Accounts Chamber of the Russian Federation; S.A. Shvetsov, the First Deputy Chairperson of the Central Bank of Russia; A.M. Makarov, the Chairperson of the Budget and Taxes State Duma Committee of the Russian Federation; A.L. Kostin, the CEO and Chairperson of the VTB Bank Board; M.M. Kotyukov, the Minister of Science and Higher Education of the Russian Federation; V.V. Rashevsky, the General Director of JSC "SUEK"; V.V. Kolychev, the Deputy Minister of Finance of the Russian Federation; A.G. Aksakov, the Chairperson of the State Duma Committee on Economic Policy and Innovative Development and Entrepreneurship, and the Chairperson of the State Duma Committee on the Financial Market; A.V. Murychev, the Executive VP of the Russian Union of Industrialists and Entrepreneurs (RSPP), and the Deputy Chairperson of the Council of the Russian Banks’ Association; S.D. Bodrunov, the President of the Russian Free Economic Society; and Jean Tirole, a laureate of the Nobel Prize in Economic Sciences(2014).

According to Professor M.A. Eskindarov, the rector of the Financial University, who made a welcoming speech at the opening ceremony, “the Forum in November became one of the largest and, at the same time, most traditional scientific event under the Financial University. However, this Forum was also special, because it took place on the eve of the 100th anniversary of the Financial University, and, of course, the theme of the event directly related to the goals and objectives set by the President Vladimir Putin in May decrees. Their implementation in the six-year perspective will allow Russia to enter the top 5 economies of the world”. The plenary session ended with signing of cooperation agreements between the Financial University and a number of educational and other organisations, as well as with an award ceremony for the Financial University’s laureates.

The memorable end of the first day was an open lecture by Jean Tirole, the French economist and Scientific Head of the Institute of Industrial Organization Theory under the Toulouse 1 University Capitole, the President of the Jean-Jacques Laffont Foundation under the Toulouse School of Economics, and Nobel Laureate in Economics (2014). Mr. Tirole mostly spoke on such issues as what it meant to be an economist, what was the common good, and how to achieve financial stability.

The second day of the Forum covered the issues of economic realities and nowadays problems, such as: income inequality, encouragement of private investment in the economy, technological prospects of the domestic industry, innovative entrepreneurship, a new industrial revolution, the research on the breakthrough trajectory in the economy, the strategies on innovation and technological breakthrough, methods attracting investment resources; creating an optimal cooperation model between legal and political systems, incentives to develop business in Russia amidst sanctions, trust and loyalty in credit relations, shadow banking, etc.

The participants discussed the impact of law and policy on development of the Russian economy: interaction of legal and national political systems in terms of globalisation, issues on creating an optimal cooperation model between legal and political systems; searching for optimal political and legal means to overcome obstacles during the state economic development; legal and political incentives to develop Russian and foreign business in the Russian Federation amidst sanctions; legal test on human potential for the state and society’s progress.

At the V Global Forum Yuri Pustovit, Managing partner of Advocates Bureau Yug, dedicated his speech "Stable and effective legal and political system as a factor of economic growth" to a complex and problematic topic of reforms in the Russia’s Civil Code, particularly, implementation and protection of civil rights, good faith and prohibition of abuse of rights. The conference with attendance of more than 70 the University’s professors and guests of the Forum became one of the most impressive and popular events.

Mikhail Eskindarov said in the interview with “Kommersant FM” that the Financial University under the Government of the Russian Federation, being an expert and analytical center, would use research and suggestions arisen during the Forum in its work and recommendations to the State Duma, the Federation Council and the Government.