Saxony delegation estimated Bashkortostan investment potential and cooperation opportunities in social sphere

UFA, 9 June 2017. /Bashinform News Agency/. Within the framework of the Saxon Landtag delegation (Germany) visit to Bashkortostan, a meeting was held with members of the Government of the Republic of Bashkortostan, heads of republican ministries and departments. During the meeting, a presentation of the investment potential of Bashkortostan, key sectors of its economy and social sphere was held. The event was attended by the Minister of Justice of Saxony Sebastian Gemkov and the Deputy Prime Minister, Government Chief of Staff of the Republic of Bashkortostan Ilshat Tazhitdinov.

Oleg Golov, the General Director of JSC "Corporation for Development of the Republic of Bashkortostan" held a general presentation of the republic characterizing economic and geographical features of the region, its industrial specialization, tourist and recreational opportunities and conditions for implementing investment projects. He noted that further cooperation would be most relevant in the field of machine building, radio electronics, and agriculture.

In more detail, transport and agro-industrial complexes of the region, healthcare and education were presented to the members of the German delegation.

Representatives of Saxony showed interest in various aspects, asking questions on the legislative basis for functioning of the priority development areas, supporting small business, developing alternative energy sources, state of the environment and waste management system.

As a result of the meeting, the German side will be provided with comprehensive information on the republic, taking into account the proposals and questions raised, the press service of Bashkortostan Government reported.

The volume of foreign trade turnover of Bashkortostan with Germany amounted to 186.1 million dollars in 2016. The share of Germany in the foreign trade turnover of Bashkortostan is about 3 percent (13th place). 24 enterprises operating in the field of production of machinery and equipment, petrochemical products, heat and sound insulating materials, in the fields of research and development, construction, wholesale and retail trade, restaurants activities, real estate transactions, rental of machinery and equipment are registered in the republic with participation of German capital. In 2016 a representative office of the Chamber of Commerce and Industry RB was opened in Germany on a voluntary basis.