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Nizhny Novgorod Region Ranks 2nd Nationally for Investment Climate

The region's commitment to fostering business growth is paying off. With improved training and support, it's now the 2nd best place in Russia for investment.

This is a picture of a city, where there are buildings, trees, poles, roads, vehicles , sky.
This is a picture of a city, where there are buildings, trees, poles, roads, vehicles , sky.

Nizhny Novgorod Region Ranks 2nd Nationally for Investment Climate

The Nizhny Novgorod Region has witnessed notable enhancements in its investment climate, climbing to the second position nationally after seven years. This progress is attributed to various initiatives, including the 'Territory Power' program, which recently concluded its third module of training for investment commissioners in Arzamas.

The training, organized by the Corporate University of the Nizhny Novgorod region and the Arzamas branch of the Nizhny Novgorod State Technical University, focused on developing investment proposals. Local heads and representatives shared experiences in attracting federal program funding, creating an investment climate, and fostering business-executive body interaction.

Participants also learned about developing investment proposals for municipalities. Arzamas' head, Alexander Shelokov, highlighted the city's transformation through federal and regional programs, crediting joint work with the governor and federal institutions. The 'Territory Power' program aims to enhance managerial competencies and support investors effectively. Arthur Batursky, Arzamas' deputy minister of economic development, emphasized the importance of communication between ministries, municipalities, and development institutions for supporting businesses.

The region's improved investment climate is also reflected in the number of public assistants providing consulting services. There are 68 sectoral and 57 territorial public assistants who conducted over 1,200 consultations and 900 meetings last year, facilitating entrepreneur-local authority interactions. Pavel Solodky, the regional business ombudsman, discussed investor project issues and protection mechanisms, acknowledging the role of public assistants in supporting entrepreneurs.

The Nizhny Novgorod Region's commitment to enhancing its investment climate is evident in its rising ranking and initiatives like the 'Territory Power' program. With effective training, communication, and support from public assistants, the region continues to foster a conducive environment for businesses to thrive.

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