President supports economic course of Kostroma regional authorities


Russian President Vladimir Putin supported addresses from the head of the Kostroma region Sergei Sitnikov about assistance to the region in the development of transport infrastructure, gasification and industrial upgrade. The governor informed the president about the socio-economic development of the region; measures to improve investment climate in the region were discussed as well. 

Vladimir Putin admitted that he was surprised to know that the region was among five most attractive regions of the country, because the region did not have such a reputation before. The president wondered how it was possible to achieve such progress. 

"First of all, we have changed the regional legislation and regulations. We have also reduced the amount and the timing of procedures, - said Sergei Sitnikov. - We have also developed a different approach to investors. We treat them as small children - we welcome them and show them around everything, so that they feel comfortable and safe."

As a result, in less than three years, the region has realized investment projects worth 60 billion rubles. The level of investment this year as opposed to the previous year made up 135 percent.  

One of the results of the meeting was an agreement to support the Kostroma plant of automotive components. The project is aimed to ensure sustainable development  of motor industry under the import substitution program.

"We do not have many examples of domestic manufacturers producing automotive components for world famous corporations, such as Volkswagen, Skoda, Peugeot, Citroen, Volvo and Mitsubishi, - said the governor. - For Kostroma, this is 1,000 new  high-paid jobs and increased tax deductions to the regional budget - by 300 million rubles a year. The factory starts a new life."

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