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By the end of 2021, more than 550 billion investments are planned to be attracted to the economy of the Krasnodar Region

The Vice-Governor, Aleksander Ruppel, announced this at the final meeting this year, which is being chaired by the Head of Kuban, Veniamin Kondratyev.

The Governor of Kuban noted that the region is ready to support those who develop key and promising sectors of the economy, thereby, increasing the standard of living in the region.

– Kuban remains one of the most attractive regions for business. This is a result of many years of work to create a favorable business climate, one of the most effective support systems in the country. As a result, this year we have implemented 68 large projects in a total amount of 65.1 billion rubles, developed a concept for attracting investments in the sanatorium-and-health-resort, manufacturing, and IT industry. For further development, it is important to further improve the tools for attracting new investments, to help start-up entrepreneurs, to expand the funds' programs, – Veniamin Kondratyev said.

Aleksander Ruppel reported that three new support measures for investors were launched in the region, which will continue to work next year. These are subsidizing interest rates on loans, infrastructure costs, and expanding the investment deduction for income tax. Since the beginning of 2021, the microfinance fund has provided more than 1,000 loans for 2.1 billion rubles.

– The volume of investments is the main indicator of business development in the region. This year, we set a goal to attract 480 billion rubles to the economy. The final statistics will be in February, but already now, we predict that this amount will exceed 550 billion rubles, – Aleksander Ruppel said.

At the present day, 273 thousand small and medium-sized enterprises work in Kuban. Over 1 million inhabitants are employed in this sector.

In 2021, on behalf of the Governor, the Business of the Young School was opened. The region became the first in Russia where start-up entrepreneurs are provided loans on up to 3 million rubles at 0.1%. Thanks to the project, more than 130 people started their own businesses.