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Implementation of Global Business Standards Key to Development of Traditional Industries

A field meeting of the Coordination Council for Development of Industry and Technologies under the Governor of Kaluga region looked at how international cooperation between the regional plants and foreign companies can be expanded.

On 26 May 2014 Governor Anatoly Artamonov of Kaluga region held a meeting of the Coordination Council for Development of Industry and Technologies in Ludinovo. The meeting dealt with ways to enhance the performance of the regional industrial plants and to develop their cooperation with foreign companies.

The participants discussed measures to support high potential projects in industrial cooperation.

According to the Ministry of Economic Development of Kaluga region in the past four months the industrial production index in Kaluga region reached 107.3% (101.4% nationwide), shipped products grew by 22% compared with last year and amounted to RUR 157 billion. With the region’s intensive investment policies new branches emerged and traditional branches got a significant development boost. Most local companies have started implementing international cooperation mechanisms. Companies busy upgrading their facilities are eligible to tax privileges.

In his speech Mr. Artamonov stressed the need for the leaders of companies in the traditional branches of economy busy modernizing their production facilities to share their experience and the significance of broader cooperation with foreign companies. He also confirmed that many foreign companies are prepared to enter into industrial cooperation in Kaluga region. ‘At the St.-Petersburg Economic Forum I met many foreign investors. Despite the sanctions many countries showed their interest in our region, including USA, China, Turkey and our long-time European partners such as France, Italy and Germany,’ says Mr. Artamonov.

Source: Press Department of the Government of Kaluga Region

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