Ulyanovsk region included in TOP-10 of National Regional Investment Climate Ranking
Governor Sergey Morozov announced this information at the meeting on financial and economic issues on 14 June. Results of the rating were presented at the St. Petersburg International Economic Forum. As in previous year, the Ulyanovsk region got the 10th place.
“Russia was once again included in the TOP-10 countries on the number of projects with foreign direct investment in Europe. Following the results of 2018, the Russian Federation takes the ninth place. Foreign investors provided their funds for 211 projects implemented in our country. The Ulyanovsk region strived to attract investment projects and investments. According to the Central Bank of the Russian Federation, the inflow of foreign direct investment to the Ulyanovsk region increased almost twofold in 2018 – by 91%. Over the last year, the region received 306.3 million dollars of foreign direct investment (246 dollars per resident of the region). The Ulyanovsk region's share made approximately 5% in the total amount of direct foreign investments that came to the Volga Federal District. That is a lot of money. In 2018, our region took the 19th place in the Russian Federation on the inflow rates of foreign direct investment and the fourth place in the Volga Federal District. In his opening address at the St. Petersburg Forum, President Vladimir Putin announced a number of tasks necessary for future economic development of the country. We should consider how to solve them in our region and which reserves to use”, - Sergey Morozov emphasized.
According to Alexander Smekalin, Prime Minister of the region, the Ulyanovsk region became one of three subjects of the Volga Federal District (along with the Republics of Tatarstan and Chuvashia) that are regularly included in the TOP-10 of the rating. The competition is increasing every year considerably, so this year it was necessary to improve the overall performance by at least eight points just to keep the previous place.
“Some indicators have been improving over the last five years. For example, we were able to reduce the average time required for registration of legal entities by almost half – from 15.1 to 7.8 days. This is the result of active interactions with our partners from federal departments. The average period of property registration has decreased by 3.6 times - from 35.5 to 10 days. Connections to the electricity distribution network now also takes less time. We have reduced by 11.3 times the number of additional documents that enterprises are required to submit during auditing. Ulyanovsk Region Development Corporation received the perfect score. Our efforts to design legislation for investors and measures of state support, as well as public-private partnership, were also highly praised”, - Alexander Smekalin emphasized.