March 22, 2017 in Berlin, the first meeting of the...
The Nizhny Novgorod region is located in the center of European part of Russia at the confluence of Volga and Oka rivers. The region is known as “land of unique opportunities” due to its favorable geographical location, developed transport infrastructure, highly skilled and qualified workforce, and significant scientific and industrial potential.
Industry is the primary sector in region’s economy. 90% of the industrial entities in the Nizhny Novgorod region specialize in high-degree manufacturing. In fact, Nizhny Novgorod region stands at 6th position in terms of manufacturing output. The Nizhny Novgorod region is a leader in manufacturing of special automotive vehicles, buses and trucks. 14.6% of newspaper works and 19% of steel-pipe industries are located in Nizhny Novgorod region.
The regional government of Nizhny Novgorod has set up an Investment council under the leadership of Governor to attract investors to the region. An Investment council task force is also established to improve communication with investors. The investment task force examines and takes decision of investment projects worth $1.2 m or less. About 1,100 investment projects have been approved in the period from 2006 to 2009.
Many leading multinationals have participated and invested in Nizhny Novgorod region. Some of the big multinational enterprises, which have participated in the Nizhny Novgorod economy, are:
Investment Projects in pipeline
The participation of reputed multinational companies show the region environment guarantees predictability and security. The Nizhny Novgorod region has also received high credit ratings, which demonstrate:
The Expert RA rating agency has ranked Nizhny Novgorod region among 10 lowest investment regions in Russia. Irrespective of the size of investment and type of activity, investor receives organizational support during preparation and processing of project implementation documents. Executive authorities tackle any issues related to land allotment and processing of documents needed to start design activities.
The investor-friendly regulations ensure that decision-making procedure of land allotment cannot exceed 104 days. The regional Government of Nizhny Novgorod region is always open to dialogue with business community. The regional authorities always update information about new industrial sites available for new production facilities. The Nizhny Novgorod government also offers financial and non-financial support to investors in form of investment tax credit, tax benefits, partial loan interest fund and many more.
The Nizhny Novgorod region also gives a unique guarantee to investors biding for priority projects. If the government introduces any new taxes or if the current tax rate is raised, the investor can continue to work on his investments on the regulatory environment that was applicable during signing of the agreement and the benefits will continue to remain applicable until the expiry of the agreement.
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