Investment

Results and plans regarding attraction of investors to the Ulyanovsk region (2015-2016)

In 2004, the volume of investment into fixed capital of the Ulyanovsk region totaled 11.4 billion rubles. Foreign investments priced at the ruble equivalent amounted to 6 million rubles (190 thousand dollars based on exchange rates as of 2004). Following the results of 2015, the volume of investment into fixed capital of the Ulyanovsk region has greatly increased and exceeded 90 billion rubles, which is by 112% higher compared to the level of 2014. The continuous investment growth into fixed capital has been recorded in the region since 2010. At the time, it made 44.8 billion rubles.

 

 

In 2015, the total amount of foreign direct investment received by the economy of the Ulyanovsk region made US $218.5 million. There was also a steady trend towards growth of foreign investments in the first half of 2016. Over this period, the total amount of direct investment in projects of foreign investors made about US $76 million.

Over the past three years, the Ulyanovsk region in the top twenty of the National Rating of investment climate in the Russian Federation. This ranking includes regions where the best conditions for doing business and implementation of investment projects have been created. In 2015 alone,  about twenty enterprises with direct investments, which in total amounted to over 32 billion rubles (2.5 times more than in 2014), were built and commissioned in the Ulyanovsk region. Tax and excise payments of the enterprises, which investors constructed in the Ulyanovsk region over the last 10 years, are one fifth of the revenue base of the regional budget.

Between 2005 and the present date, 160 investment projects for the total amount of about 89 billion rubles were developed and implemented in the Ulyanovsk region. More than 20 thousand new high-paid jobs were created in the Ulyanovsk region and, over the last 3 years, at least 3 thousand new jobs are created at the expense of investors on an annual basis. Fifty-one investment projects for a total amount of over 42 billion rubles are under implementation. In 2016, this figure increased by 3 billion rubles. By implementation of these projects, it is planned to create about 6 thousand new jobs.

While working with investors in 2015 and in the first half of 2016, staff of the Ulyanovsk Region Development Corporation accomplished a considerable amount of tasks, which includes:

− information on 2 thousand new companies was entered into a database of potential investors (information on 950 potential investors was collected in the first half of 2016);

− over 7.5 thousand phone calls to potential investors were made (6.5 thousand phone calls were made over the first six months of 2016);

− about one thousand negotiations and meetings with investors were held both in the territory of the Russian Federation and abroad (450 negotiations and meetings were held over the first six months of 2016);

− 112 visits of potential investors to the Ulyanovsk region were prepared and carried out (45 visits were prepared and carried out over the first six months of 2016),

− representatives of the Ulyanovsk region participated in 63 business events; investment potential of the Ulyanovsk region was presented at 43 international exhibition and conventions (at 30 exhibitions and conventions over the first six months of 2016).

As a result of these activities, in 2015 we attracted 16 investors, whose total amount of investments made 25 billion rubles. These projects will allow to create about 3 thousand new jobs. Over the first six months of 2016, 14 investors were attracted, who developed projects for the total amount of over 12 billion rubles. It is planned to create about three thousand new jobs within implementation of these projects.

In addition, in June 2016, an investment memorandum was signed with the anchor investor of the promising industrial park in Dimitrovgrad on construction of innovative production of artificial fibers for the amount of  60 billion rubles. The project incudes creation of 1.5 thousand new jobs. An agreement on creation of a joint Russian-Chinese enterprise on production of cement is expected to be signed in the second half of 2016. Investment from the Chinese party can amount to US $300 million.

In 2015-2016, investment agreements were signed in the field of mechanical engineering (including machine-tool industry), manufacturing of automotive components, aircraft repair and maintenance services, production of furniture and construction materials, woodworking industry, logistics, gas industry, production of eco-friendly fuel, agriculture, chemical industry, production of innovative construction materials, as well as implementation of projects of public-private partnership in the social sphere. The most notable investment projects among them are the ones in the sphere of alternative energy, including wind-power production. Such agricultural trends as aquaculture and construction of greenhouse complexes are effectively developed in the region. These investment projects promote import substitution of technologies and products.

The most significant investment projects of the companies, which signed investment agreements in 2015 and 2016:

  • Hermle AG (Germany) - a project on construction of a machine-building facility, which includes a plant to assemble machines, a showroom and a maintenance center to repair machines. Investments into this project will amount to 400 million rubles and more than 50 new jobs will be created;

 

 
 
  •  TRIMILL (the Czech Republic) - a project on production of machines. Investments into this project will amount to 200 million rubles and 50 new jobs will be created;
  •  DMG MORI (Japan-Germany) - a new project on establishment of a one-stop supply center at the premises of Zavolzhye industrial park in Ulyanovsk. Investments into this project will amount to 300 million rubles and 150 new jobs will be created;

 

 

  • HESTEGO (the Czech Republic) - a project on production of machine-tool equipment. Investments into this project will amount to 100 million rubles and 100 new jobs will be created;
  •  OAO "Promyshlennye Investicii" -  a project on construction of a greenhouse complex in the territory of Terengulsky District. Investments into this project will amount to about 13 billion rubles and 750 new jobs will be created;
 
  • Gold Mountain (China) - a project on production of natural stone tiles in the territory of the Ulyanovsk SEZ. Investments into this project will amount to  about 200 million rubles and 100 new jobs will be created;
  • ZAO AviaNovTeh - a project on construction of a logistics center with a total area of 150 thousand sq.m in the territory of the Port Special Economic Zone. Investments into this project will amount to about 4.5 billion rubles and it is planned to create 100 new jobs;
 
  • Fortum (Finnland) - a project on construction of a wind farm with 35 MW overall capacity in the territory of Zavolzhye industrial park. Investments into this project will amount up to 5 billion rubles and it is planned to create 100 new jobs;
  • DB "Ustanovka Zamknutogo Vodosnabzheniya" - a project on establishment of a fish farming complex. Investments into this project will amount to 1.5 billion rubles and is planned to create 120 new jobs;
 
  •  OOO Volga-Lakta - a project to set up production of leaven in the territory of Zavolzhye industrial park. Investments into this project will amount to about 400 million rubles and is planned to create 50 new jobs;
  • OOO Arakel-DO - a project on creation of a woodworking plant in the territory of Novoulyanovsk industrial zone. Investments into this project will amount to over 5 billion rubles and it is planned to create at least 300 new jobs within five years;

 

 
  • LEONTARIDIS (Greece) - a project on construction of a furniture factory with fully robotic equipment, which complies with the most modern standards of furniture production. Investments into this project will amount to  about 4.5 billion rubles and 340 new jobs will be created;
  • АО Tavrida Mikroelektronika - a project on production of electronic systems for aviation, space and defense industries for the purpose of import substitution. Investments into this project will amount to about 500 million rubles and 50 new jobs will be created.
Following the results of 2016, the volume of investments attracted to the Ulyanovsk region is expected to total at least 100 billion rubles.

Over the past two years, the amount of Russian direct investments into implementation of investment projects in the territory of the Ulyanovsk region has increased significantly.

In 2015, the number of Russian investors attracted to the Ulyanovsk region more than doubled compared with 2014. The ratio of Russian investments to foreign ones, which were received in the first six months of 2016, is estimated as 60 to 40. It is a welcome fact that, over the past year, several investment agreements were signed with representatives of the Ulyanovsk business community, who are planning to implement their own projects in the territory of industrialized platforms such as Zavolzhye industrial park and Port Special Economic Zone.

                                           

 

In particular, this includes a project of the local company "Sovremennye kuhni" to set up production of ready-made kitchens (the project was completed in 2015 with an investment volume of 200 million rubles; it is planned to create 150 new jobs). Another example is a project of the Ulyanovsk company "Toreador-Aktiv" for production of steel doors (the investor starts work at the building site in 2016; completion of the project is scheduled for 2017 with an investment volume of 100 million rubles; it is planned to create 20 new jobs). Both projects are being implemented in the territory of Zavolzhye industrial park. 

                                                                        

Through the work of Ulyanovsk enterprises, hospitality industry is actively developing in the region. New hotels and hotel facilities are built. In Zavolzhsky City District, Ulyanovsk, a construction and investment company OOO "Mix"  is building an Ibis International Brand's hotel complex (investments into this project amounted to 265 million rubles; it is planned to create 50 new jobs).

                                                                                      

OOO "ALFA INVEST" will build a hotel complex in Dimitrovgrad by 2018 (investments into this project will amount to 371 million rubles; it is planned to create 100 new jobs).

Over the past year and a half, twelve investors with projects amounting to over 9.5 billion rubles came to building sites of the Ulyanovsk region. Within the framework of these projects, it is planned to create more than 1700 new jobs.

The most significant projects, which construction has been started in 2015 and 2016:

  •  MARS (the USA) - a project on construction of a scientific center for studies of petfood. Investments into this project will amount to 782 million rubles and 150 new jobs will be created;
 
  • OOO "Finans Plyus" (Ulyanovsk) - a project on creation of a plant for the production of building materials in Sengileyevsky District. Investments into this project will amount to 800 million rubles and 87 new jobs will be created;
  • Decathlon Russia (France) - a project on construction of Decathlon sports goods hypermarket in Ulyanovsk. Investments into this project will amount to about 300 million rubles and 60 new jobs will be created; 
  • Leroy Merlin Vostok (France) - a project on construction of a household appliances shopping center under the Leroy Merlin brand. Investments into this project will amount to 500 million rubles and 100 new jobs will be created;

  •  a project on construction of an industrial park in the territory of the Port Special Economic Zone in Cherdaklinsky District. Investments into this project will amount to about 2 billion rubles and 50 new jobs will be created.

In 2015, twelve investors successfully completed their projects for the total amount of 32 billion rubles, which is which is 2.5 times more than in 2014. Over four thousand new jobs were created. In the first six months of 2016, two investment projects were implemented worth 1 billion rubles and 150 new jobs were created. Following the results of 2016, it is expected to put into operation nine more enterprises for the total amount of 17.35 billion rubles. Over 1500 new jobs will be created.

The largest and most significant investment projects that were introduced in the Ulyanovsk region over the past year and a half:

  •  DMG MORI (Japan-Germany) - a machine-tool plant. Investments into this project amounted to 70 million euros; 250 employees will work at the plant. The taxes, which were paid to the budget of the Ulyanovsk region in 2015, made 21.65 million rubles. After the plant will reach its design capacity, it is expected to receive 440 million rubles of tax revenue on an annual basis;

                                                                  

  •  Hempel (Denmark) - a plant on production of protective paint coatings. Investments into this project amounted to 900 million rubles and 50 new jobs were created. In the future, it is planned to provide employment to 100 people in total. The taxes, which were paid to the budget of the Ulyanovsk region in 2015, made 45,37 million rubles; 

                                                                              

  • Nemak (Mexico) - a plant for production of automotive components. Investments into this project amounted to 4.4 billion rubles and 200 workplaces were created. It is planned to create about 300 workplaces in total. The taxes, which were paid to the budget of the Ulyanovsk region in 2015, made 502.97 million rubles;
  • EUROCEMENT group - Sengileevsky Cement Plant. Investments into this project amounted to 15.8 billion rubles and about 150 workplaces were created;

                                                                 

  • FM Logistic (France) - a class A logistics complex. Investments into construction of the first stage amounted to 500 million rubles; the total amount of investment will exceed 2 billion rubles. One hundred new jobs were created. It is planned to create about 600 jobs in total;

                                                                

  •  Hilton (the USA) – an international level hotel under the Hilton Garden Inn brand. Investments into this project amounted to 2.5 billion rubles and 150 new jobs were created;
 

  • Agava - a hypermaket of household goods under the Megastroy brand in Zasviyazhsky District, Ulyanovsk. Investments into this project amounted to 1.2 billion rubles and 200 new jobs were created;
 
  •  Jokey Plastik (Germany) - a plant for production of plastic packaging. Investments into this project amounted to 700 million rubles and 100 new jobs were created;

  •   LLC T1 (previously known as LLC AAR-Rus) - a production and logistics complex in the territory of the Port Special Economic Zone. Investments into this project amounted to 300 million rubles. Fifty new jobs will be created.

The largest and most significant investment projects that were introduced in 2016:

  • Bridgestone (Japan) - a plant on production of passenger car tires. Investments into this project amounted to 12.5 billion rubles. It is planned to create at least 600 new jobs;

  • Martur (Turkey) - a plant on production of automotive components. Investments into this project amounted to 300 million rubles. It is planned to create 300 new jobs;
  • a peasant farm enterprise “Vozrozhdeniye” - construction of a livestock breeding complex for five thousand head of cattle in the territory of Cherdaklinsky District. Investments into this project amounted to about 700 million rubles. It is planned to create 50 new jobs;
  • PROMTEH-Ulyanovsk - a plant for manufacturing of cabling and wiring products in the territory of the Port Special Economic Zone. Investments into this project amounted to about 240 million rubles. It is planned to create  80 new jobs;
  • a helicopter center "Heliport-Ulyanovsk" with total investment of 300 million rubles. It is planned to create 30 new jobs;
 
  • Auchan (France) - a hypermarket in Zavolzhsky District, Ulyanovsk. Investments into this project amounted to 500 million rubles. It is planned to create 200 new jobs;


2. Development of infrastructure of industrial parks and municipalities (2015-2016)

Currently, about 10 government-owned industrial parks are in different stages of completion in the Ulyanovsk region. Two of them are in the city of Ulyanovsk, one each in Novoulyanovsk, Dimitrovgrad and in the territory of Sengileyevsky and Novospassky districts. Another five or so industrial parks are private property. Over the next few years, it is planned to put into operation infrastructure facilities of several private industrial parks, including one in the territory of Ulyanovsk Automobile Plant and Dimitrovgrad Auto Modular Plant and one in the territory of Ulyanovsky District.

Industrial park "Zavolzhye"

 

 

In 2015, four new enterprises with a total of 750 employees were opened in its territory. In accordance with respective targets for the year 2015, we had to launch at least three new enterprises and create 700 new jobs. We have accomplished this task.

Today, this is one of the most successful industrial parks in Russia, where 24 investment projects with an investment volume of about 46 billion rubles are being implemented. When projects are completed, about 6 thousand new jobs will be created. The enterprises, which are already operating in Zavolzhye, provide employment to about 3 thousand inhabitants of the region.

One ruble of budget investments in infrastructure of the park is equilavelnt to 22.8 rubles of residents' investments and 8 rubles of tax payments to the regional budget. Between 2009 and 2015, residents of the park paid 10.4 billion rubles of taxes (excluding tax benefits) to the budget of the Ulyanovsk region. This exceeded manifold funding provided for building of the park's infrastructure.

Financing and construction of infrastructure of Zavolzhye industrial park is closely coordinated with investors' project implementation schedule. For instance, the following projects were completed in 2015:

− construction of a household sewage system in Mirnyi settlement;

− construction of external networks of drinking and technical water supply;

− construction of electric and sewer networks for the plants of "Nemak", "Bridgestone", "DMG MORI SEIKI".

In 2015, new highways with total length of 108 km were constructed within the territory of Zavolzhye industrial park.

In 2016, Zavolzhye industrial park and its management system confirmed compliance with the national standard of industrial parks (the national Standard of the Russian Federation all-Union State Standard “Industrial Parks. Requirements”). Today one can see further development of its facilities, which includes construction of a gas distribution pipeline, a gravity flow sewer and electricity supplies for new resident enterprises of Zavolzhye industrial park.

In 2016, the region received about 460 million rubles of government subsidies through an application form of JSC "The Ulyanovsk Region Development Corporation" to compensate expenses related to creation of industrial parks. The Government of the Russian Federation approved a list of 15 industrial parks eligible to receive state support. The decision was made during the session on February 24 with participation of the Prime Minister of the Russian Federation Dmitriy Medvedev. The Ulyanovsk region was among territorial entities of the Russian Federation which requests were approved. The region received government funding in the amount of 459.5 million in order to continue development of investment infrastructure.

 

Special economic zone "Ulyanovsk"

 

 

An additional sum of 208 million rubles was invested from the consolidated funds of the Ulyanovsk region to establish Ulyanovsk PSEZ (including 108 million rubles to acquire shares of the federal companies in February of this year and 100 million rubles in the past years).

Regional funds were used to:

− complete the first stage of a highway from taxiway to the Ulyanovsk SEZ;

− design external networks of the Ulyanovsk SEZ;

− repurchase shares of PSEZ Ulyanovsk; the funds will be allocated for construction of roads in SEZ.

Federal funds in amount of 1.3 billion rubles were used for development of infrastructure of PSEZ. They were spent on construction and design of infrastructure facilities of PSEZ. Among them are:

− on-site and external networks of water supply, household sewage, gas supply and communication;

−  electrical supply networks;

− road infrastructure and a taxiway;

−  facilities of a public utility zone;

−  the first stage of the industrial park (11 thousand sq.m);

−  an area planning project of the second start-up complex.

In 2015, the following facilities were constructed for the Port Special Economic Zone:

− a pressure household sewerage system 8.2 km long, WWPS of 500 m3/hour

− a pressure storm water sewer 9.6 km long, a tank with the volume of 3200 m3; capacity of the storm water pumping station is 950 m3/hour, 500 l/s.

− a high-pressure gas pipeline, with a diameter of 426 mm, 9,6 km long.

In 2016, it is planned to build the following facilities in PSEZ:

− customs infrastructure;

− a building of the PSEZ industrial park.

Currently there are 11 residents registered in PSEZ.

Among them are LLC T1 (previously known as LLC AAR-Rus), which in April 2016 commissioned a warehouse complex, and PROMTEH-Ulyanovsk, which is completing the construction of a production building (commissioning of the facility is planned for the third quarter of2016). Representatives of JSC Concern Radio-Electronic Technologies (KRET), JSC Ulyanovsk Instrument Manufacturing Design Bureau and OOO Interavionika confirmed their interest in implementation of the first stage of the project in the territory of the new industrial park SEZ "Ulyanovsk", which construction started in June 2016.

In June 2016, the Advisory Council of the Ministry of Economic Development of the Russian Federation approved adjustment of status of a permanent resident of the SEZ "Ulyanovsk" for five companies, including:

 

  • LEONTARIDIS (Greece) - a project on construction of a furniture factory, which will be built on a land plot of 8.5 ha. Investments into this project will amount to about 4.5 billion rubles and 340 new jobs will be created. The enterprise will be transferred to the Ulyanovsk region from Greece;
  •  OOO “INTER LOGISTIK PARK” - a project of a logistic center for warehousing and palletising cargo operations. Investments into this project will amount to 873 million rubles. The enterprise will be located on a land plot of  7.7 ha in the territory of the second start-up complex of PSEZ;
  •   OOO “OKSIBLOK” - a project on production of onboard emergency oxygen equipment sets. The major customers are domestic manufacturers of aircraft. The enterprise will be built on a land plot of 1 ha and will be launched at the end of 2018. Investments into this project will amount to 103 million rubles;
  •  OOO “TSEST” - a project of the plant on production of LED goods. The enterprise will be built on a land plot of 0.77 ha and will be launched in the fourth quarter 2017. Investments into this project will amount to 70 million rubles;
  • Gold Mountain (China) -  a project on establishment of a center for distribution of Chinese goods, which will include construction materials, tools and equipment, computer equipment and office supplies, electronics, household appliances, automotive parts and etc. Investments into this project will amount to 62.5 million rubles. The center will be built on a land plot of 1 ha.

Within development of investment infrastructure in the territory of Ulyanovsk SEZ, construction of a private industrial park of Ulyanovsk SEZ on a land plot of 14.5 thousand sq.m started in 2016. In the first quarter of 2017, it is planned to build and commission an industrial complex equal in height to a 4-storey house, to place external and on-site engineering networks, as well as to improve and fence the surrounding territory. State investment in construction of a production case of the Ulyanovsk SEZ industrial park will amount to 627 million rubles. Here about 20 investors, which work in the field of aircraft industry and maintenance of aviation equipment, electronics and instrument building, composite materials, power and mechanical engineering, will be able to place their facilities here.

  

 

Almost in all municipalities of the Ulyanovsk region territories of prospective development have been determined in collaboration with local authorities and the regional Centre for Entrepreneurship Development. These are venues with engineering infrastructure suitable for work of at least one enterprise. We have carefully described and mapped all of them.

Currently we continue to develop perspective industrial parks in the territory of municipal entities of the Ulyanovsk region, which include the ones in Novospassky, Inzensky and Sengileevsky districts, Dimitrovgrad, Novoulyanovsk,.

In 2016, it is planned to start conceptual development in order to provide at least three municipal zones of the Ulyanovsk region with alternative energy. For this purpose, surveys (wind monitoring) will be carried out in 2016-2017, which will help to define optimum locations for construction of wind power stations. The research is taking place in three municipalities of the Ulyanovsk region – Nikolaev and Karsunsky districts, Novoulyanovsk. They were named as the best places for construction of wind farms.

                                                                     

Fortum Corporation, a Finnish company, will invest 65 million euros in implementation of the pilot project on construction of a wind power station in the Ulyanovsk region. The first stage of windmills’ installation will start in 2017.

After construction of the first wind farm, it is planned to work on localization of wind turbine components manufacturing in the Ulyanovsk region. Investors from the People's Republic of China intend to take part in this project.

Industrial park in Dimitrovgrad, a city with monoprofile economy

In accordance with the Instruction of the Government of Russia No. 1398 dated 29 July 2014, Dimitrovgrad shall be considered as a monotown of the first category. In other words, it is among the monotowns of the Russian Federation with the most complicated social and economic situation. Dimitrovgrad economy is primarily based on activities of JSC Dimitrovgrad Automodular Plant (hereinafter JSC DAAZ), the backbone enterprise of the automotive industry which includes eight large entities carrying out production in a single processing chain. Concentration of Dimitrovgrad plants and increased focus on automotive industry led to inefficient work of city-forming enterprises, which, in turn, caused limited economic and social potential for the city's development.

                                                       

To improve the situation in the monotown it is necessary to create a developed business infrastructure, which would contribute to establishment of new enterprises and organizations. This will help to diversify the monotown's economy.

In December 2015, the Government Commission for Economic Development of the Russian Federation approved a project to establish an industrial park in the monotown of Dimitrovgrad. In January 2016, an agreement was signed with the Monotowns Development Fund to co-finance the construction of infrastructure of this promising industrial park.

Currently, the Ulyanovsk region is planning to submit an application to the Monotowns Development Fund to receive funding necessary for establishment of infrastructure, as well as for creation of a territory of the advancing social and economic development (TASED) in Dimitrovgrad, the Ulyanovsk region.

The anchor investor of the industrial park in Dimitrovgrad will be "Elbrus", a company which has signed a memorandum of intent on construction of an innovative chemical fibers production worth 60 billion rubles. It also includes creation of 1.5 thousand new jobs.

Industrial park "Novospasskoye"

        

In 2015, an agreement was signed with "Surskaya Riba", the anchor investor of the industrial park "Novospasskoye". It is planned to build a trout farm by 2018. Investments into this project will amount to 1 billion rubles and about 100 new jobs will be created. 

Industrial park "Novospasskoye"

                                                                                            

In March 2016, an agreement was signed with the Russian company "Arakel-DO" on creation of a wood processing plant in the industrial park "Novoulyanovsk". The enterprise will consist of an OSB plant capable to produce 120 thousand cubic meters per year, a wood-sawing line and production of euro-pallets. The investor plans to create 300 jobs and to invest 5 billion rubles within the next three years. Construction of the plant in the region will encourage the use of unmerchantable wood, which is currently not in high demand on the domestic market.

Agroindustrial park "DEGA-Ulyanovsk"

The first stage of a logistics complex of the Russian company "Darkat" opened in an agropark in Ulyanovsk (Karlinskaya industrial zone) in March 2015. This company is the first resident of the Russian-Swiss private agropark "DEGA-Ulyanovsk". It is planned that 600 million rubles will be invested into full implementation of the project and 200 new jobs will be created after the logistics complex attains its design capacity.

 

In 2015, an investment agreement was signed with a new resident, an Ulyanovsk company OOO "ZEON", on creation of an “A” Class logistic center. Investment into the project will make 250 million rubles and it is planned to create 400 new jobs. However, so far the project has been put on hold until the new master plan for Ulyanovsk is adopted. There is a good prospect that several machine-building industries will be built in the territory of the agropark, which will provide Ulyanovsk agrarians with agricultural equipment and machinery.

Business community comes to the Ulyanovsk region from the neighboring regions. This proves that a favorable investment climate has been created here. For example, OOO "Zhivaya Voda Povolzhie" (Samara) opened its own production in Salmanovka, a village in the Ulyanovsk District. OOO "Capital Holding Company" (Tatarstan) is also building facilities in the region, which will be leased to ULNANOTECH.

Despite the difficult economic situation and overall decline in the volumes of investment, the active position of the Governor of the Ulyanovsk region Sergey Morozov and that special attention, which Sergey Ivanovich pays to development of the investment climate and attraction of investors to the region, yield positive results.

 
   

Investments into our region demonstrate stable growth rates. Investors note that it is comfortable for them to work in the Ulyanovsk region. The region has become more recognizable in the world and we have gained trust of large foreign corporations and corporate groups. The Federal Center commends investment initiatives implemented by the Governor. In 2015, the President of the Russian Federation Vladimir Putin noted progress of the region and in early 2016, investment achievements of the Ulyanovsk region were highly praised by the Prime Minister Dmitry Medvedev. In 2015 and 2016, the Ulyanovsk region remains among the best regions (Top-20) according to the National Rating of Investment Climate.