Ulyanovsk Region Is Among Leaders on Implementation of Effective Industrial Policies

Results of the research carried out in 2020 were presented at International Fair INNOPROM in Ekaterinburg on 5 July.

The rating covers four spheres: "Economic development of regions", "Interactions between the region, the Ministry of Industry and Trade of the Russian Federation and the Industrial Development Fund", "Legal framework in the region. Regional measures of state support and development institutions", and "Business environment in the region. Youth policy. Industrial tourism".

According to the research, the Ulyanovsk region takes the third place among federal subjects of Russia in terms of legal framework, support measures and development institutions. The Kaluga region and the Republic of Udmurtia also ranked third. As far as cooperation with the Ministry of Industry and Trade and the Industrial Development Fund is concerned, the Ulyanovsk region is the eighteenth in the rating.

The Regional Industrial Development Fund (RIDF) has been working in the Ulyanovsk region since 2015. RIDF provided loans worth 296.9 million rubles in 2020 alone. Twenty-two Ulyanovsk companies received support measures.

According to Alexander Smekalin, Head of the regional Cabinet, the company must not only develop existing facilities and research new spheres, but also create well-paid jobs in the region to be eligible for low-interest loans. He commented, “We continue improving mechanisms to support regional industries. We also look for new opportunities to upgrade production facilities and to develop the infrastructure. One of the most important objectives is improvement of residents' well-being in the region.”

According to the Ministry of Economic Development and Industry of Ulyanovsk Region, the region has developed support measures for industries. They include subsidies provided from the regional budget to companies that manufacture light articles or consumer goods. Half of employees at such facilities must be people with disabilities; the funds should be used for retraining and skill improvement. “Thanks to the support measures, our enterprises can annually compensate part of the costs related to fees for heat, water and electricity supplies, as well as wastewater disposal services. The released funds can be used to develop their facilities and to upgrade equipment,” said Nikolai Zontov, Acting Minister of Economic Development and Industry of Ulyanovsk Region.