All News

Meeting with Governor’s Investment Council members on March 26.

27.03.2014 09:28

Oleg Kuvshinnikov held a meeting with Governor’s Investment Council members to discuss implementation of priority investment projects.

“Our goals are to increase investments into fixed capital, to coordinate their usage, to develop public-private partnerships and to improve investment attractiveness of the Vologda Region”, said Vologda Oblast Governor Oleg Kuvshinnikov.

The head of the region believes that large-scale investment projects that are being implemented on the territory of the region by large companies should receive priority status at the federal level and get certain preferences.

Over the last years the Vologda Oblast has constantly increased the volume of investments into fixed capital.

Most of the industries (forestry - 210%, wood processing - 104.5%, production of machines and equipment - 152,8%, pulp - 142.3%, production of food products - 118%, manufacture of ready metal products - 159.9%, metallurgical industry - 147.7%) showed steady growth in the volume of investments in 2013 in comparison with the year 2012. According to forecasts, in 2014 the volume of investments will increase by 7-10%.

On March 26 the meeting addressed two investment projects. The first project aiming to create hi-tech woodworking productions enters the final stage. The total volume of investments makes up RUR 1,280,000,000. As a result of its implementation the company will create 123 new high-tech jobs.

The second project aiming to construct a factory for production of wooden windows is also gaining momentum. The investments total RUR 828 mln. It is planned that the first stage of the new production line will be put into operation in early 2015. The new production facilities will create 124 new jobs.

The experts of the Investment Council recommended giving the projects a priority status.