The PSB proposed to bring the brands of the Caucasus to the international market

The local brands of the Caucasus need to be brought not only to the national, but also to the international market, said Vera Podguzova, Senior Vice President of PSB, speaking as a moderator at the business breakfast "Creative Economy of the Caucasus: New growth points" within the framework of the Caucasian Investment Forum. According to her, this is important both for the representation of the region itself and for Russia as a whole.

"The Caucasus should become not just a territory of talents, but a region where strong, recognizable creative brands appear," Podguzova said. The Vice-President of the PSB noted that the Caucasus has its own unique cultural code, in-demand products and a strong local industry. The region is historically rich in talents and craftsmen, technologies and new production models are being created here, she stressed.

According to her, a unique environment has been formed in the Caucasus, where the creative economy has existed for hundreds of years — in crafts, traditions and gastronomy. The main challenge is how to preserve authenticity and at the same time scale with the help of modern technologies, Podguzova believes. "Another important aspect is that it is necessary to assemble a system that scales from many individual initiatives," she said.

Business revenues in the creative economy of the Caucasus region have grown by almost 70% in two years, which is three times faster than the Russian average, but these figures are the result of a low starting point, Podguzova noted. It is necessary to develop an effective approach that will allow us to move from rapid growth to systemic leadership, the Vice President of the PSB believes.

The session was co-moderated by Konstantin Bogomolov, director and artistic director of the Moscow Drama Theater on Malaya Bronnaya. Deputy Prime Minister Alexander Novak, Minister of Economic Development Maxim Reshetnikov, Head of Dagestan Sergey Melikov, head of the Karachay-Cherkess Republic Rashid Temrezov, Chairman of Delovaya Rossiya Alexey Repik and director Alexey German also took part in the discussion.