Government of Bashkiria aims at bringing the investments share in GRP to 25 percent in 2018

UFA, 26 March 2015. /Bashinform News Agency, Elvira Latypova/. “The share of investment in GRP is the most significant, important target benchmark , where we must reach a value of not less than 25 percent by 2018”, the Minister of Economic Development of the republic Alexander Vasiliev said at a meeting of the Government of Bashkortostan on Wednesday during the analysis of the project goals of the state program "Socio-economic and investment development of the Republic of Bashkortostan".

It was offered to support highly profitable projects to achieve this goal leading to manufacture of products with high added value and productivity growth.

“Already now we are discussing the future projects of Bashneft’s modernization worth about 20 billion rubles, "Gazprom neftekhim Salavat" (four projects with a total budget of 70 billion rubles), "Bashkir Soda Company" (four projects - 5 billion rubles), "Gafuri"(one large project - 18 billion rubles). Similar work is planned with other major companies of the republic,” the Minister explained.

According to Alexander Vasiliev, the growth of the investment share in gross regional product (GRP) shows the scale of the technological renewal process of the economy.

“According to economic theory, if for six or eight years this share does not drop below 25 percent, the subject of regional economy provides a technological breakthrough and guarantees a high level of its economic growth in future periods,” Alexander Vasiliev said.