22 January 2014, Wednesday, 16:03

Rustem Khamitov: "Yamal-Volga project - is a topic for further decades"

author: Bashinform News Agency

Will Bashkortostan become a new Singapore? Just half a century ago Singapore was a backward colonial appendage, the "Third World country". Today it is a country with a developed market economy, which is characterized by a favourable environment for business and loyal tax policy. A substantial part of this success was achieved by attracting foreign investments, and a considerable part of them is directed to the development of the largest petrochemical cluster on Jurong Island — today it is the largest centre, second only to Houston and Rotterdam. In Russia, the role of Singapore is claimed by just two national republics — Tatarstan and Bashkortostan, forming on their territories an extensive oil and gas chemical cluster. The President of Bashkortostan Rustem Khamitov believes that steady governmental management plus petrochemical development can become a basis of boosted economical growth. The President of Bashkortostan shared his vision of petrochemical state capitalism in an interview to Neftechimiya RF magazine.

He, in particular, answers the questions about whether the petrochemicals are the major advantage of the republic, and what efforts the republic plans to take in order to stimulate demand for petrochemical products and to involve the related industries in increasing the consumption of petrochemical products; how to consolidate and structure the petrochemical sector players, what to do to keep pace with global competitors, considering the availability of raw materials as naphtha in the republic is there any need for a such a long and costly transport corridor for raw materials delivery from Western Siberia.

Full text of Rustem Khamitov’s interview can be read on the official website of the head of the republic.