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Home>Authorities>Executive Powers>Ministry of Economic Development

Ministry of Economic Development

Overview

Ministry of Economic Development of the Vologda Oblast works in accordance with the Clause of the Ministry of Economic Development. The Ministry of Economic Development is the main local government body responsible for carrying out the investment policy, foreign economic activity, trade and economic relations. It is responsible for co-coordinating the activities of federal and regional executive bodies in relation to foreign investment, domestic and international trade, preparing concession agreements and production-sharing agreements, infrastructure development.

The Ministry of Economic Development develops and maintains foreign economic relations for the Vologda Oblast fostering partnerships that increase global visibility, cultural understanding and economic growth.

Within its competence, the Ministry of Economic Development performs the following functions:

investment activity development;
scientific and innovative activity development;
Vologda’s trade and economic relations, as well as economic integration with the Russian regions and foreign states;
control for liquor market of the Vologda Oblast;
control for observance of normative and legal documents;
assistance to enterprises and companies of the Vologda Oblast aiming to participate in international exhibitions, fairs, presentations and any other activities;
preparation of agreements, contracts, memorandums, minutes of deliberations about foreign economic relations;
organization of events aiming to attracting foreign investment;
development of export capacity and provision of wide integration of the region's economy into the national and world economy;
provision of small- and medium-sized business of the Vologda Region;
modernization and technological renewal of key industries, localization of production, introduction of modern resource saving techniques;
works coordination in development of investment programs;
development of the proposals for stimulation of export potential development, optimizing foreign trade and payment balances, carrying out preparation of forecasts for the export of goods (works and services).

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