The Yalta International Economic Forum (YIEF) is an annual business event held in the Crimea (Yalta). Along with the Petersburg International Economic Forum, the Eastern Economic Forum and the Sochi Investment Forum it is one of the four biggest economic forum held in Russia. The forum is sponsored by the Government of the Republic of Crimea and the Yalta International Economic Forum Fund with the support of the Administration of the President of the Russian Federation.
The YIEF has established itself as an effective international venue for discussing socio-economic development issues with a topical agenda that addresses the modern challenges facing the world economy.
Each year the Forum is attended by high-level Russian government officials, international experts, influential international and Russian businesspeople and economists, representatives of major business organisations and other opinion leaders.
An important YIEF focus is the search for ground-breaking approaches and instruments to solve the tasks of social and economic development and discussion of the best world business practices. The discussions are built around the search for answers to modern challenges spanning a wide range of topics: the creation of a competitive, diversified modern market economy that does not depend on the export of natural resources, effective interaction between business and government, the development of competitive innovative production and modern technologies, tapping the human potential, and support of small and medium-sized businesses. International and inter-regional cooperation also looms large on the agenda.
The YIEF is the main showcase of investment opportunities and the investment potential of the Crimea. An important feature of the region is that it is the only Free Economic Zone on the territory of the Crimean Federal District. An exhibition of the CFD investment projects is a permanent feature of the YIEF. Would-be investors have a chance to talk with officials, including the head of the Republic of Crimea, Sergei Aksyonov, who chairs the YIEF Organising Committee. By tradition, the third day of the Forum is devoted to meetings between the regional government representatives and the business community.
YIEF 2016 held on 14–16 April 2016, was visited by more than 1,100 people including government officials, members of the business community and economics experts. Among them were more than 70 international representatives from 26 countries – politicians, businessmen and other opinion leaders. This is the largest group of foreign guests to come to the Crimea on a business visit since the reunification of the Crimea with Russia.
During YIEF II 12 investment agreements to the tune of more than 70 billion roubles were signed, and a mechanism was developed to protect foreign investors wishing to work in the Crimea against the negative impact of Western sanctions. The Forum saw the signing of a 32-billion-rouble contract to build a terminal at Simferopol airport, the most ambitious investment project in the recent history of the Republic of Crimea.