Governor of Sverdlovsk Region Eduard Rossel to set up Urals Development Corporation

Governor of Sverdlovsk Region Eduard Rossel chaired a meeting of the region’s foreign investments committee to discuss the efficiency of foreign investments in Sverdlovsk Region’s economy and the potential increase in these investments.

The Governor said the region was one of Russia’s top economic investment targets and received 160 billion RUR and $1.5bn worth of investments in the year 2007 alone. In addition, Sverdlovsk Region’s foreign trade turnover exceeded $12bn last year.

At the same time, to reach the goals set by President Dmitriy Medvedev, one needs not only to attract more investments but also to adopt new strategies of managing these resources, Eduard Rossel noted.

The Governor has already signed a decree regarding the setting up of Urals Development Corporation. The company’s authorized capital comes to 5 billion RUR at the moment but is expected to reach 20 billion RUR later on. The creation of the new corporation is targeted at development of business plans and offering them to prospective customers and helping the region’s municipalities find good investors.

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