Foundation for Economic Development of the South in order to facilitate socio-economic development of Ust-Labinsk district of Krasnodar region was created by Oleg Deripaska’s initiative of in March 2007

The main activities of the Foundation:

Advisory support to develop a strategy to give the National Competitiveness Institute, Moscow. The ultimate goal of developing a strategy - quality of life of the population of Ust-Labinsk area. The basis for the quality of life of the population speaks the competitiveness of the economy, providing a high level of income and favorable conditions for life. A key factor in the effectiveness of the strategy is that its development is the active participation of key stakeholders: residents of Ust-Labinsk district, business and government representatives.

At the head of the administration of Ust-Labinsk District Council works on strategic development of the Ust-Labinsk District, which is an advisory body, formed for the purpose and on the development and implementation of the Strategy of development of Ust-Labinsk area for the long term. Chairman of the Board of Directors of Kuban Agro Andrew Oleynik is a member of the Council.