Rustem Khamitov: "Business activity indicators improve in Bashkortostan for the fourth consecutive year"

UFA, 27 May 2015. /Bashinform News Agency, Iliya Spiridonov/. On May 26 in the House of Republic Rustem Khamitov has held a session of the Public Council on Improvement of Investment Climate under the Head of Bashkortostan.

“Business activity indicators improve in Bashkortostan for the fourth consecutive year. During this time, the volume of investment in fixed assets increased by 30.5 percent, including last year - by 4.1 percent, reaching 285.5 billion rubles. The encouraging fact is that in the first quarter of this year growth of 9 percent was marked compared to the first quarter of 2014,” the Head of the Republic said.

According to Rustem Khamitov, it is important to review the organization of work at the municipal level to improve the investment climate in the region.

To this end, the Government of the republic together with the organizations of employers developed a draft standard of local government bodies’ activity, which is expected to be soon adopted to ensure a favourable investment climate in the municipality.

Among the important tasks to improve the investment climate Rustem Khamitov named a creation of industrial parks - finished production sites near the major centres of processing and raw material zones; formation and development of clusters, including in the framework of the import substitution policy, as well as human resources matters.

“Agreements are signed with the leading Russian banks that will provide investment loans in the priority sectors. To ensure the availability of investment resources the Government of the republic formed a guaranty fund with republican assets totaling more than 15 billion rubles, which will also be used in support of priority projects.”

Rustem Khamitov noted that to reduce the risks of private investors it is necessary to expand collaboration with business in construction of public infrastructure property. The practice of public-private partnership and concession agreements should be widely used at the republican and municipal level. For this purpose, an investment fund is established in the republic with total assets of 300 million rubles until 2017. Already five projects in transport, environment and sports totaling about 50 billion rubles are approved.

During the session the Head of Bashkortostan ordered the economic block of the Government RB within a week to develop and publish an Investment Letter to current and potential investors, executive authorities and heads of municipalities.

Full transcript of the speech is published on the official website of the Head of the Republic.