Minister of Economic Development reports Chelyabinsk Region gets 75.7% more investments in 2006

9 March 2007 (09:19)

According to Chelyabinsk Region Minister of Economic development Yuri Klepov, the area received 75.7% more investments last year (the total volume of invested finances reached nearly $1.5bn), made by over 50 countries all over the world. Cyprus, with its $496.6m, or 33.9% of the total volume of finances, was by far the greatest-scale investor, followed by Switzerland (whose share amounted to $186.5m, or 12.7%) and Great Britain (whose share came to $166.9m, or 11.4%).

In addition, about 100 joint ventures have been successfully operating within the region, for instance, Omya, the Austrian plant dealing in marble powder, American Carboceramics dealing in ceramic propping agent, an aluminum can factory for Rexam, the British can manufacturer, and a Henkel surface treatment plant.

Chelyabinsk Region Ministry of Economic Development reports that this substantial increase in the amount of foreign investments was largely due to the regional government’s attempts 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.

According to Mr. Klepov, a foreign investments committee is being set up in the region at the moment to ensure well-coordinated investments policies within the area. The committee aims to enhance the government’s efficiency and improve the investments mechanisms to make sure companies can invest more actively in the region.

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