Chelyabinsk Region receives $961.2m worth of investments over nine months of 2006

1 December 2006 (11:10)

The amount of foreign investments coming to Chelyabinsk Region has risen by 48.6% over the nine months of 2006 (compared with January-September 2005) and amounted to $961.2m, says Chelyabinsk Region Minister of Economic Development Yuri Klepov. This increase has largely been caused by the attempts of the regional government to create the conditions that would attract the foreign investors to the region; besides, Chelyabinsk Region has been quite stable both economically and politically lately. In addition, a system of interconnected legislative acts aimed at promoting investing activity was created, which helps the investors make long-term financial plans. The most important one is the Regional Bill on Promoting Investing Activity that determines the major types of governmental support for investors.

The regional government has been cooperating with Stratum Corporation in the field of conducting the Ural Investment Forum for over six years now. Since last year, the forum agenda has included the meetings of Governor of Chelyabinsk Region with large foreign and home investors. This year, the forum will be attended by some 10 foreign consulates-general and trade missions, including the ones from Great Britain, Germany, the USA, the Czech Republic, Hungary, and Bulgaria, and approximately 20 companies from abroad.

According to Mr Klepov, Chelyabinsk Region first welcomed the foreign investors as recently as ten years ago, yet there are already over 100 enterprises that use foreign capital operating here. This year alone, four more such industrial companies have emerged in the region. They are: Omya, the Austrian plant dealing in marble powder, and American Carboceramics dealing in ceramic propping agent . They have also started the construction of aluminum can factory for Rexam PLC, a can manufacturer, and a Henkel surface treatment plant.

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