Инвестиционном симпозиуме в Гарвардском

университете, 1999 г.

(Бостон, США)

Уважаемые дамы и господа! Уважаемые коллеги!

Привлечение иностранных фирм и инвестиций — одно из ведущих направлений осуществления городской инвестицион­ной политики. Особенно это стало важным в связи с возникшими в последнее время экономическими проблемами, вызванными из­вестными августовскими решениями Правительства России, ос­ложнившими финансовую ситуацию в стране.

Хотя следует особо подчеркнуть, что Москва как самостоя­тельный субъект федерации не отказалась от своих обязательств и продолжает оставаться надежным союзником для иностранных партнеров. При этом Москва вырабатывает свой путь создания благоприятного инвестиционного климата, понимая при этом:

— во-первых, твердые гарантии;

— во вторых, создание режима наибольшего благоприятствования;

 

— в-третьих, упрощение процедуры оформления разреше­
ний и документов; и

— наконец, прочные деловые отношения инвесторов с го­
родской администрацией.

Любой город, вступивший на путь преобразований, не может обойтись только собственными ресурсами, ему всегда необходимы и внешние источники финансирования.

Инвестиционная активность в Москве, по российским мас­штабам, высока. В 1997 году иностранные инвесторы вложили в московскую экономику 8.5 млрд, долларов США, что составило 66% инвестиций, привнесенных в Россию. На этом же уровне был и 1998 год.

Мы понимаем, что западного инвестора беспокоит степень ри­ска своих вложений, и он вправе рассчитывать на стабильность политической обстановки в стране, на гарантированное получе­ние соответствующего возврата своих инвестиций, на цивилизо­ванное законодательство и страхование своих вложений и т.д.

Есть все основания утверждать, что в Москве эти вопросы ре­шены достаточно положительно, о чем свидетельствует практика и опыт многочисленных зарубежных инвесторов. Достаточно сказать, что за последние 10 лет ни один иностранный предпри­ниматель, иностранные компании и фирмы, появившиеся на московском рынке, особенно в строительной отрасли, не покину­ли это поле, а, наоборот, расширили свою сферу деятельности, не­смотря на экономические неурядицы и политические баталии.

Уверенность в эффективности сотрудничества вытекает из следующих особенностей и возможностей Москвы.

Москва, как известно, крупнейший, по мировым меркам, мегаполис, располагающий значительным научно-производст­венным и имущественным потенциалом. Она характеризуется самой высокой в России инвестиционной активностью. Несмотря на серьезный экономический кризис, охвативший Россию в по­следние годы, особенно в августе 1998, и проявляющийся также и в Москве, несмотря на существенное падение производства во всех отраслях народного хозяйства, строительный комплекс города все эти годы работает стабильно и результативно.

В городе ведется большое дорожно-транспортное строитель­ство. Введена современная кольцевая автотрасса с 10-полосным движением, начаты работы по третьему автомобильному кольцу в городе. Реализуется достойная столицы программа реконструк­ции центра города.

Но главная особенность нашей инвестиционной политики состоит, пожалуй, не в том, что конкретно мы строим и рекон­струируем, а в том, как, какими способами и средствами мы обеспечиваем поддержание высоких темпов и объемов строи­тельных работ в сложных условиях нынешнего этапа рыночной экономики.

Не так давно Москва практически целиком финансировалась из госбюджета. С переходом к рынку эта, когда-то широкая река государственных инвестиций сузилась до маленького ручейка, а город живет и строится. В этих условиях мы вынуж­дены были искать новые принципы и подходы в нашей инвес­тиционной деятельности.

В чем это конкретно заключается? Прежде всего в реалистич­ности и сбалансированности наших инвестиционных программ. Жить по средствам — сегодня основной закон хозяйствования.

Другой подход — диверсификация источников финансиро­вания. После прекращения обильных централизованных госу­дарственных инвестиций и субвенций был этап кредитных ре­сурсов коммерческих банков, но жизнь показала, что это очень дорогое удовольствие, и сегодня мы пользуемся кредитом край­не осторожно.

Таким образом, современный инвестиционный потенциал Москвы характеризуется высокой мощностью и мобильностью, четкой и адаптированной к рыночным условиям политикой, финансовой устойчивостью и открытостью для внешних инвес­торов и строителей.

Столичность нашего города также создает дополнительные удобства для предпринимательства. Москва без преувеличения

является сегодня одним из ведущих мировых центров бизнеса, торговли, банковской и биржевой деятельности. Здесь все рядом: и власть, и ведущие банки России, стран СНГ, дальнего зарубе­жья. Это крупнейший транспортный и телекоммуникационный узел. Все это создает хорошие предпосылки для успешного ведения практически любого дела.

Приход к нам зарубежных инвесторов мы расцениваем не только и не столько как путь привлечения дополнительных финансовых и материальных ресурсов, хотя этот фактор для нас, безусловно, сейчас немаловажен.

* * *

Distinguished ladies and gentlemen, Distinguished colleagues,

Attracting foreign capital and investments is one of the major/ important areas of (our) municipal investment policy. This has become particularly important because of/due to the recent economic problems caused by/resulting from the (well-known) August decisions of the Russian government, of which you are aware, which complicated the financial situation in the country.

I should like to particularly emphasize/stress/underline/highlight/ that Moscow, as an independent subject of the Federation, has not renounced/rejected/abandoned/its commitments and continues to be a reliable associate/interlocutor/for foreign partners/firms. In so doing, /moreover, /Moscow is producing its own plan for a favorable investment climate, taking into account the need for:

first: firm/solid guarantees

second: the establishment/creation of MFN/most favored nation conditions

third: simplification of the procedure for obtaining permission and documents,

and finally, sound/stable business relations between investors and the city administration.

Any city, which has begun to implement/embarked on a policy of/ put into effect a plan for/begun major changes/transformations cannot get by/manage/survive by using only its own resources/limit itself to its own resources/make do with solely its own resources; it always needs/ requires/is in need of external financing.

Investment activity in Moscow is major/high in terms of/Russia/the country as a whole. In 1997 foreign investors invested 8.5 billion US dollars in the Moscow economy, which accounted for 66% of investments in Russia. The same level was true for/held true for/1998.

We understand that western investors are concerned about the degree of risk to their investments, and they are right in counting on a stable political situation in the country, on being guaranteed receipt of an appropriate return for their investments, on civilized/sound/ acceptable norms of/legislation and insurance of their investments, etc.

There is every reason to assert that Moscow has resolved these issues positively/that there have been positive solutions to these problems in Moscow/and this has been demonstrated/proved/attested/ shown by the experience of numerous/many/foreign investors. Suffice it to say that in the last 10 years not a single foreign entrepreneur, foreign company or firm active on the Moscow market, particularly in the construction field, has abandoned such activities/its efforts; rather, there has been expansion of such efforts, despite the economic turbulence/upsets and political strife/struggles.

Confidence in the effectiveness of cooperation stems/derives/results from these specific features and potential of Moscow.

Moscow is indeed a major metropolis by world standards, with significant potential in production and property. It has the highest rate/largest proportion of investment activity in Russia. Despite the

serious economic crisis which has overtaken/gripped Russia in recent years, in particular/particularly in August 1998, which was also felt in Moscow, and despite the substantive/substantial decline/drop in production in all areas of the economy, the construction sector of the city has been functioning in a stable and productive manner.

The city is engaged in large-scale road building and transportation activities. There has been the introduction/start-up of a modern ten-lane ring highway, and work has begun on a third ring highway in the city. A significant/major/sophisticated program of reconstruction of the city center/to highlight the center of the capital/worthy of the capital/is underway.

But the most striking feature/outstanding characteristic of our investment policy is not, I feel, what we are specifically building and reconstructing, but rather how and by what means/with what funds we are ensuring/providing for speedy and large-scale construction/ a rapid rate and large volume of construction in the difficult conditions/circumstances of the present stage of the market economy.

Not so long ago/Quite recently Moscow was virtually entirely financed/practically financed in toto/in full from the state budget. With the shift to the market this formerly extensive/broad flow of state investments dried up/was reduced to a trickle, but the city is actively building. In such/these circumstances/conditions we are forced/obliged to find/create new guidelines/principles and approaches in our investment activity.

What does this (really) mean (in fact)/involve/include? First of all, (that we have) realistic and balanced investment programs. Living within one's means is today the basic law/rule governing the economy.

Another approach is that of the diversification of sources of finan­cing. After the termination/cessation of abundant centralized state/ government investments and subsidies there was a stage/during which credit resources were (obtained)/of obtaining credit from commercial banks, but experience has shown that this is an expensive/costly source of satisfaction/boon/way of doing things, and today we are extremely cautious in our use of credit.

Thus, the modern investment potential of Moscow today/now/is marked/characterized by power and mobility, careful/precise adjustments to market conditions, financial stability and openness to foreign investors and builders.

The fact that our city is the capital also creates/provides advantages for enterprises. Today Moscow/is unquestionably/ undoubtedly/with no exaggeration can be termed/called one of the leading/business centers of the globe/world business centers.

Everything is right there/right at hand: the authorities, and the leading banks of Russia, the countries of the CIS, and/of foreign countries/ foreign banks. This is a major/an enormous transportation and telecommunications hub/center. All these factors provide/create a good basis for successfully undertaking/conducting any type of business dealings/deal.

We see the involvement in our country of foreign investors not merely/only/solely/as much more than/as a means for attracting additional financial and material resources, although this factor doubtless is significant/important for us.

This text is packed with useful economic and financial terms. It also is an example of an exhortatory style: the speaker has a clear message for his western audience, and is trying to convince his listeners to heed it. This requires accuracy in the use of the financial terms and a certain number of colloquial expressions to retain the flavor of the speech and get the message across.

Комментарии:

1) This sentence is full of nasty little problems. Особенно should follow
" This has become." В связи can be rendered as " because of or " due to"
rather than the much longer " in connection with." " В последнее время"
can be shortened to " recently, " since " in recent times" is both lengthy
and excessively literary for this speech. Возникшее does not need
translation, as it adds nothing to the sentence. Известными is better not
translated as " well-known, " which sounds awkward or even sarcastic —
which is certainly not the speaker's intention — in English. " Of which you
are aware" would cover this, if the interpreter has time. If not, известны­
ми can be safely left out, precisely because the audience is " aware" of
these problems.

2) надежным союзником для иностранных партнеров — the problem
here is the word союзник. " Ally" does not work in English, because it is
too politically tinged, and if you use " partner" here, then the word will
be repeated twice once " foreign partners" come along. Not the worst of
crimes, and if necessary " partners" can be used again, but a substitute in
the first instance might be " associate" or " interlocutor."

3) вырабатывает свой путь — this seemingly innocent phrase is fraught
with peril. " Is working out its path" belongs to long-dead Moscow
Newsisms and Tassisms. The idea is that Moscow is " producing its own
plan, " " developing its own policy, " or, colloquially, " has its own plan, " for
a favorable investment climate, etc.

4) вступивший на путь преобразований, не может обойтись только
собственными ресурсами — there are several choices here. In any case,
as in the above example, the literal translation of путь has no place here.

" Any city which has begun major changes" is an easy beginning. " Cannot get by" will get the colloquial tone of the speech across, and the sentence could be finished with " solely its own resources, " which would save a good many syllables.

5) на этом же уровне был и 1998 год — the sentence is another example
of " think nominative, " and turn the initial words in an oblique case into
a nominative subject: " The same level." If the interpreter begins with " at
this level, " it will be difficult to follow through with an idiomatic English
sentence. " Was true for" or " held true for" gets across был, since " was"
or " happened" will not work in English.

6) западного инвестора — in English this sounds better in the plural,
particularly since this is a long sentence. Otherwise it begins to sound like
a long description of a particular individual.

7) на цивилизованное законодательство — while " civilized" is logically a
correct translation, " sound" or " acceptable" are a bit better here.
" Civilized" sounds a bit patronizing.

8) в Москве эти вопросы решены достаточно положительно, о чем сви­
детельствует практика и опыт многочисленных зарубежных инвесторов —
once again, the interpreter will have a much easier time with the sentence
if the prepositional phrase " в Москве" is made into a nominative subject:
" Moscow has resolved these issues." " О чем свидетельствует" can also
be turned around to begin the clause with a nominative: " This is
demonstrated by..." " Практика и опыт" are tautologies, and can perfectly
well be translated by one word, " experience."

9) не покинули это поле, а, наоборот, расширили свою сферу деятель­
ности — this can translate as a singular, but then all three subjects need
to be in the singular: " Not a single foreign entrepreneur, company or firm
has abandoned such activity/its efforts." " Field" is not a good translation
for " поле" here. The sentence can be continued by subsuming наоборот
into " rather, there has been expansion of such efforts, " instead of starting
on a longer construction with " on the contrary, " which would require a
reiteration of the subject, i.e. " on the contrary, these firms have been
expanding their activity..."

 

10) особенностей и возможностей Москвы — " specific features" is more
idiomatic than " particular characteristics, " and " potential" covers more
ground than " possibilities."

11) Москва, как известно... располагающий — saying " as is known" in
English verges on sounding silly. It is indeed perfectly obvious that the city
is a major metropolis. " Indeed" puts emphasis on the phrase without
making the listener sound like an ignoramus. " With" is quite sufficient for
располагающий. " Possessing" or " having" are both awkward and
unnecessary.

12) он характеризуется самой высокой в России инвестиционной дея­
тельностью — the verb " has" is simple and much more idiomatic than
" is characterized by." " It has the highest rate/largest proportion of

investment activity in Russia" is a clear statement; " It is characterized by" is clumsy, longer, and slightly confusing, suggesting that this may be a temporary state.

13) работает стабильно — " has been functioning" is appropriate here,
while " has been working" sounds awkward.

14) в городе ведется — this is another example of the need to start with
a nominative subject: " The city is engaged in." Otherwise the construction
will be extremely awkward: " In the city there is going on..."

15) реализуется достойная столицы программа реконструкции центра
города — here literal translation must be avoided at all costs, as this would
produce a real " Moscow Newsism." " A significant" or " major program"
is underway or is being carried out of reconstruction of the city center.
" Достойная" can also be conveyed by " sophisticated, " but anything
involving the use of " dignified" should be avoided, as it will sound
strange. " Worthy of the capital" is possible, but will unnecessarily
lengthen the sentence and complicate the syntax.

16) не так давно — can nicely be translated antonymically: " quite recently."

17) живет и строится — a literal translation, " is living and building, "
would sound ridiculous. Turning the verb живет into the adverb

" actively" creates a normal English sentence: " is actively building."

18) в чем это конкретно заключается? — the notion here is what is
involved here, what is really involved. Rephrasing the question as " What
does this really mean? " or " What does this mean in fact? " gets the point
across. Конкретно then does not need to be translated, since it is covered
by " really" or " in fact."

19) жизнь показала — this expression is nearly always better rendered as
" experience has shown" rather than as " life has shown, " which has an
awkward ring in English.

20) столичность нашего города также создает дополнительные удобст­
ва для предпринимательства — the syntax needs to be adjusted to deal
with столичность, which cannot be translated by a single word in English.
" The fact that our city is the capital" solves this problem and leads into
the rest of the sentence. Удобства can be rendered as " advantages, " since
" conveniences" does not work here.

21) без преувеличения — while it is perfectly all right to say " with no
exaggeration, " (much better than " without exaggeration" ), the words
" unquestionably" or " undoubtedly" are equally effective here.

22) здесь все рядом — the idea is that everything is " right there" or " right
at hand, " rather than " nearby" or " close by."

23) не только и не столько как путь — the speaker means " not only" or
" as much more than." A literal translation such as " not only and not so
much as" should be avoided, and путь here has the sense of a " means"
for doing something.

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