All News
Oleg Kuvshinnikov briefed on investment climate and investment policy of Vologda Region.
23.12.2016 14:32
Vologda Oblast Governor Oleg Kuvshinnikov chaired a meeting of the Investment Council devoted to investment climate and investment policy of the Vologda Region for 2017.
Taking part in the meeting were representatives of business circles and top leadership of the local government.
The governor emphasized that one of the main objectives of the Investment Council is to make recommendations for assigning a status of priority investment projects with the state support in the form of tax exemptions.
Mr. Kuvshinnikov noted that the region achieved significant, even record-high performance results in investment climate improvement over the last five years. The investment attraction strategy for the Vologda Region of Russia is targeted at diversification of regional economy, growth of small cities, small and medium business activation and human capital activation.
Programs aiming to develop infrastructure, presenting a legal framework, regulation and institutions of enforcement, finance and credit support for small entrepreneurship development are adopted in most municipalities of the Vologda Oblast.
A network of private, federal, local and municipal support funds and organizations has appeared. These institutions offer training, educational, informational, consulting, financial, and other services to SMEs.
The Guarantee Fund for Small and Medium Enterprises was set up in the Vologda Oblast. The Fund was given a mantle of authority to offer a wide range of financial services, specifically for small and medium enterprises engaged in manufacturing, processing, agribusiness and services. In addition to it, the Vologda Region Centre of Entrepreneurship Support was organised in 2014 that allows parties involved in trade and transport to lodge standardised information and documents with a single entry point to fulfil all import, export and transit-related regulatory requirements.
The agro-industrial complex is also actively supported by the local government, as well as research and innovation activities (the financing over the last 5 years increased by several times).
The gross regional product increased by 50% compared to 2011. The growth rate of gross regional product of the Vologda Oblast exceeds Russia’s average. It made up 110.5%, while Russia's average level is 102,4%.
Over the last 5 years the volume of agricultural output increased by almost 30%. The output of major industries of the Vologda Region was also on the increase. Pulp and paper production increased significantly (by 63.7%), manufacture of machinery and equipment - by 34.8%, chemical production - by 27%, wood processing - by 22.7%, production of electricity, gas and water - by 13%.
According to Vologda’s Governor, a number of large projects will be implemented soon. PhosAgro, one of the world’s leading vertically integrated phosphate-based fertilizer producers, began construction of a new, energy efficient ammonia production plant with a capacity of 760 ths tonnes/year at PhosAgro-Cherepovets in the Vologda Region. The new ammonia line will have a production capacity of 2,200 tonnes/day (760 ths tonnes/year). It will be the first ammonia line of such capacity in contemporary Russia. In addition, there will be new highly productive jobs created by the completed ammonia line, and payments into local and federal budgets will increase.
Mt. Kuvshinnikov summed up that the regional authorities intend to improve the legislature and infrastructure support of investors, to train qualified personnel, to develop industrial clusters, and to optimize licensing and technological procedures for investors.