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Stable Economic Development of Kaluga Region

On December 24 a session of Coordination Council for Industrial and Technological Development chaired by Anatoly Artamonov, Governor of Kaluga Region, was held in Kaluga. Results of operations of Kaluga Region industrial complex in 2015 году and main development strategies for 2016 – 2017 were discussed.

Anatoly Artamonov in his welcome speech noted that the rate of drawdown for industrial production index in Kaluga Region was slower in 2015. According to some assessments the industrial production index was equal to 93.3%.

Anatoly Artamonov, Governor of Kaluga Region, - “Nevertheless, regional economic model and its diversified structure allow Kaluga Region keeping the pace of stable development. While demand for cars is slowing down, there is substantial growth in production of electronic equipment, alimentary products, pharmaceuticals, construction materials; there is demand for Kaluga metal and heavy equipment. Turbine-generators, gas turbine engines, railway equipment, radioelectronic equipment, optics, paper, furniture and other products are manufactured in Kaluga Region. Total products amounts to RUR 490 bln. There are 9 major production sites opened, construction of new plants is planned, among them a plant for steel structures production, major pig complex, turkey complex and other projects.”

It was noted that companies which implement their investment projects at the territory of the region, do not give up their plans and continue their activities, adjusting their production processes.   

Sergey V. Druchek, Deputy Minister for Industries and Small Businesses of Kaluga Region, - “In 2016 the Ministry will continue its assistance in getting state support for regional enterprises. There are the following forms of existing federal state support, which are now provided to industrial enterprises of Kaluga Region:

- Loans on favorable terms from Foundation for industrial development – 3 enterprises received such loans in 2015;

-  Subsidies from federal budget for working capital and current production activities – 4 major enterprises received such subsidies in 2015 and 3 more enterprises plan to receive them in the near future;

 -  Subsidies for implementation of integrated investment projects – 3 enterprises are bidding for best project award;

 - Conclusion of special investment contract – 3 enterprises plan to participate in a bid to conclude special investment contract.”

Program will be still in place at the regional level to provide regional tax relief for modernized industrial enterprises; it will be applied both for corporate property tax, and for profit tax.