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Oleg Kuvshinnikov briefed on investment potential of Vologda Region.
05.12.2014 15:49
Vologda Oblast Governor Oleg Kuvshinnikov chaired a meeting of the Investment Council today.
“It is possible to boost economic development of the region only by creating a positive investment climate, as well as by effective use of all the opportunities available in the region”, noted the Governor.
Russia's accession to the WTO and the Customs Union, the geopolitical factors have a direct impact on the Russian Federation and the Vologda Region as a part of it. Investors are still cautious in more risky investments. Only guaranteed and reliable projects are considered a priority.
But the Vologda Oblast has a number of competitive advantages:
geographically advantageous position, the region is situated in close vicinity to Russia’s largest consumer markets;
large infrastructure objects - Trans-Siberian Railway (the longest railway in the world), gas transportation pipeline through which gas flows to Europe, the Volga-Baltic Waterway, Western Europe - Western China International Transit Corridor and three airports (one of them is available for international flights);
rich natural recourses;
a highly industrially-developed region with such industrial giants as PAO Severstal and Phosagro;
a unique cultural and historical potential.
According to Mr. Kuvshinnikov, these competitive advantages will allow us to increase investments in the short and medium term.
Economic diversification and decrease of dependence from the region’s large enterprises are the main directions for development of the region. The local government has taken measures to stimulate investment activity in the region. 19 investment projects enjoy tax privileges.