Ulyanovsk Region Doubles Investments in Fixed Capital

It amounted to 15.82 billion rubles, which is by 8.6 billion more than the level in 2019 without small and medium-sized enterprises. The Territorial Body of the Federal State Statistics Service of Ulyanovsk Region summed up results of investment activities for the first quarter of 2020.



The Governor of Ulyanovsk Region said, “The investment policy of the Ulyanovsk region promoted such a significant increase of this indicator. Despite the rather tough economic situation, the region has not stopped working to attract investments. We maintained our business activities. Currently, the most important task for us is to create new entities and jobs for residents of the region. We are working hard to build industrial sites in each municipality. Back in 2019, we began systematizing managerial decisions in districts of the region because communication should be as clear and precise as possible.”

The Ministry of Digital Economy and Competition of Ulyanovsk Region prepared an individual plan for investment development of the region until 2024. Methodological work was carried out in municipalities. In addition, a set of educational programmes has been developed together with the Corporate University of Ulyanovsk Region to improve qualifications of specialists involved in investment promotion.

According to Nikolay Zontov, Acting Minister of Digital Economy and Competition, these measures made it possible to take a systematic approach to stimulating the developing investment activities by using regional, local and federal tools to promote investment growth. He stressed, “According to results over the first six months of 2020, nine organizations implementing investment projects received the resident status at the Territory of advanced socio-economic development "Dimitrovgrad", which will create 502 new high-tech jobs.”

In 2020, it is planned to commission 12 facilities with the total investment of more than 7 billion rubles, which will create 1600 new jobs for residents of the region.

“In particular, it is expected to open an entity to manufacture electrical equipment, a new production line at the brewery and a new dry mortars plant in Sengileevsky District. In addition, Dimitrovgrad is going to launch a steel reinforcing mill and to increase spaces of the toy factory; PSEZ "Ulyanovsk" will open production of modern composite materials, as well as the one for stuffed toys and gift packaging. Ten projects with the investment of about 19 billion rubles will start construction; 2,500 new jobs will be created for the region's economy. These entities are to open in 2021-2022,” - said Igor Ryabikov, Executive Director of Ulyanovsk Region Development Corporation.