Kuban hits record on investment promotion plan

Volume of investments amounts to 2.9 trillion rubles.

This year, 480+ major investment projects worth 2.6 trillion rubles are being implemented in the Krasnodar Territory, which is an all-time maximum for the region. Government support schemes for businesses helped achieve this result. Vice-Governor of the Krasnodar Territory Alexander Ruppel informed TASS on Thursday.

«In recent years, investment activity in our region has reached its maximum. The economy slows down in every crisis, business takes a wait-and-see approach, very carefully manages funds and is looking for new opportunities to grow. And we decided to become one of these opportunities by stimulating investments and offering preferential treatment for investors and being proactive at the federal level. Now, 483 large investment projects are being implemented in the region with a total amount of over 2.6 trillion rubles. This is a record-breaking number of investments in the history of the region,» Ruppel said.

He confirmed that the implementation of the projects will create more than 80 thousand new jobs. Ruppel emphasized that the business industry specialization is changing in the region. If, for a long time the region was characterized mainly by the development of the agricultural sector, health and resort, consumer logistics and housing construction, now high growth rates have been demonstrated by industry and the IT sector.