Ulyanovsk Region: 9 Billion Rubles Invested and About 650 Well-Paid Jobs Created Thanks to Cooperation with Turkish Companies

Governor Sergey Morozov announced this information at a meeting with Tunç Soyer, Mayor of Izmir (Turkey), on 11 November. During the event, which was held via videoconference, the parties discussed promising areas for cooperation.

 

“Turkey is one of the Ulyanovsk region's major trading partners. In the first half of 2020, the foreign trade turnover between the region and the Republic exceeded $2.5 billion. Due to the epidemiological situation in the world, these indicators have decreased significantly for both countries, but we still have a great potential to build economic and investment relations. Our investment partnership is actively developing. So far, Turkish companies have implemented three large industrial projects in the Ulyanovsk region: AB InBev Efes brewery has been operating in the region since 2010; and Martur started serial production of car seats in January 2016. Russian company Pamir completed a steelmaking project in 2018 with the use of Turkish technologies. Investments of these companies in the region's economy totaled more than 9 billion rubles, and 650 well-paid jobs were created,” - said Sergey Morozov.

Russian businesses, foreign investors and Turkish construction companies have also established cooperation to build large infrastructure, shopping and entertainment facilities, as well as develop industrial-scale production. In particular, Limak-Marashstroy (Turkey) participated in construction of a manufacturing unit in the brewery and Scheffler's automotive components plant. StroyDevelopment used Turkish assets to build a production complex of Nemak (Mexico) in Zavolzhye industrial park. Renaissance Construction implemented projects to construct a large tire facility for Bridgestone (Japan) and Aquamall shopping and entertainment center in Ulyanovsk.

Igor Ryabikov, Executive Director of Ulyanovsk Region Development Corporation, presented investment platforms of the region and support measures that are provided to investors. In particular, he talked about the special economic zone, which provides opportunities not only to establish production facilities, but also to distribute goods, to create logistics and wholesale centers or to rent buildings to launch production. This information can be interesting for foreign companies at the initial stage of their cooperation with the region.

Igor Ryabikov commented, “The Ulyanovsk region has successful experience in implementing joint investment projects and is ready to share it and demonstrate Turkish companies operating in the region to new potential investors from the Republic of Turkey.”

He also said that economic communities are actively working as part of the long cooperation with this foreign partner. The Development Corporation has signed agreements and is working with the Foreign Economic Relations Board of Turkey (DEİK), the Uludag Exporters' Association (UIB), the Turkish Confederation of Businessmen and Industrialists (TUSKON), FIADE and the Istanbul Chamber of Commerce.

 

23.11.20