Nizhny Novgorod industry enters record levels

In the Nizhny Novgorod region, officials discussed the results of the work of industrial companies in the first half of 2013. Regional head Valery Shantsev attended the meeting. 

Following the meeting of the Nizhny Novgorod Association of Industrialists and Entrepreneurs, it was noted that local companies have done pretty well in the first half of the year. According to the Federal State Statistics Service, the total production in the reporting period amounted to more than 480 billion rubles.

The overall index of production for the half year amounted to about 110 percent, which was higher than the national average level.

"In a number of other regions, production has been declining, but we hope to reach the annual growth rate of five to six percent by the end of the year and cross the Rubicon of a trillion rubles in terms of industrial production," said the governor of the Nizhny Novgorod region Valery Shantsev.

Also, according to Valery Shantsev, the number one goal is to ensure the growth of salaries in the real sector of economy.

According to the Nizhny Novgorod Association of Industrialists and Entrepreneurs, increasing productive forces was made possible thanks to the strong support from the regional government. In 2009, the governor of the Nizhny Novgorod region ordered to develop a program to support and modernize the local industry.

According to the Federal State Statistics Service, positive dynamics in the development of industry in the region has been reported for several years. In 2012, the region became a Russian leader in innovative manufacturing. The growth in exports of innovative products for three years has increased by 70 times and totaled about 17 billion rubles in 2012. At present, the share of innovative products remains one of the highest in the Russia.