Vladimir Putin: "Investment growth must increase by 6-7 percent in 2020"

The Russian leader made this statement within his Address to the Federal Assembly on 20 February.


“To achieve high growth rates, it is also necessary to solve our economy's systemic problems, - President Vladimir Putin noted. – This means improving the business environment and the quality of national jurisdiction so that nobody would run away to other countries, so that everything was stable and would go like clockwork. In 2020, investment growth must increase by 6-7 percent. This indicator will become one of the key criteria to evaluate work of the Government".

The head of state specified improvement of the business environment and the quality of national jurisdiction as one of four priorities to solve economy's systematic problems.

“Investment policy is the key driver of economic growth in the Ulyanovsk region. Over the next several years, we aim to increase investment into the regional economy to 150 billion rubles, as well as to ensure growth of GRP up to 5% or more, – noted Sergey Morozov, Governor of the Ulyanovsk region. – Creating a favorable business environment and attracting investors have been our priorities for more than ten years. Organization and development of growth points - platforms and territories prepared for expansion of investment projects - help to solve these tasks. The main ones are the port special economic zone, the industrial park "Zavolzhye", and the territory of priority social and economic development "Dimitrovgrad"”.

According to him, Ulyanovsk Region Development Corporation affected creation of a favorable investment climate in the region. Its key goals include searching for and attracting investors, selecting platforms and support of projects in the single window format. In addition, the region has an economic system for support of investment projects. Fifteen-year tax holidays provided in the Ulyanovsk region allow investors to save from 30% to 40% of direct project costs.

From 2005 to 2017, investment into the Ulyanovsk region's fixed capital made 750 billion rubles with the growth rates of 711%. Major foreign companies such as DMG MORI, Bridgestone, Schaeffler, Quarzwerke, Legrand, FM Logistic, Nemak, MARS, Hempel, EFES, TAKATA, Fortum, Vestas, ISUZU, and JokeyPlastik came to the region. The region has a nanocenter, a unique innovative project that supports technology entrepreneurship.

Twelve investment projects with the total investment of about 10.5 billion rubles were successfully implemented in 2018. These projects created about 750 new jobs.

“Using the example of Zavolzhye industrial park, we can see that many companies continue creating their productions in the Ulyanovsk region despite the external economic circumstances and foreign policy factors. This is the direct financial result for the region. We hope that the platform will continue developing”, - commented Denis Tsukanov, Deputy Director of the Department of Regional Industrial Policy of the Ministry of Industry and Trade of the Russian Federation.

This year a Legrand plant for production of electrotechnical equipment is to be commissioned in Zavolzhye industrial park. It is also planned to start construction of Irkut Corporation's center for customization of aircraft, to create the second stage of the industrial park in the port special economic zone, to implement a project in the solar sector, to open a Vestas plant and to begin production of blades. The year started with opening of the 50 MW wind farm. It has been supplying the wholesale market with electricity since January 2019.