INVESTMENTS

Lipetsk Region expands cooperation with the US

Moscow hosted a meeting of the Lipetsk Region delegation and representatives of the American Chamber of Commerce in Russia. Acting Governor of the Lipetsk Region Igor Artamonov spoke about the investment potential of the Lipetsk special economic zone.

The delegation included heads of regional agencies responsible for interaction with investors, representatives of the Lipetsk special economic zone, and project top managers from resident companies, such as Vice President of Honeywell Russia and Customs Union Leonid Sorkin, Cargill Director John Lane, PPG Industries Finance Director Rudi Podlesnik, EMENA/Kemin Agrifoods Europe Operations Director Timur Voronin and Lamb Weston Belaya Dacha General Director Irina Shatskaya.

Igor Artamonov emphasized that the system for attracting investment in the region is recognized as one of the most efficient in Russia. “The Lipetsk special economic zone has 64 resident companies from 16 countries with over €2.7 bln of committed investment,” Artamonov said. “Lipetsk has become a growth point for several investment projects with the participation of American capital. Today we agreed that Honeywell will open an engineering center in the region.” 

President of the American Chamber of Commerce in Russia Alexis Rodzianko noted a favorable investment climate in the region, as well as the local government’s interest in the development of business ties.

In 2018, the mutual trade of the Lipetsk Region and the US grew by 150% and reached $403 mio. The United States is among the five largest trade partners of the Lipetsk Region (6% of the total foreign trade volume) with the 94% share of exports of 6% of imports. Large plants of US companies such as Honeywell, PPG, Kemin, Lamb Weston Holdings, Schlumberger, Cargill, Hog Slat, PepsiCo and Whirlpool are located in the region. Six of them are resident companies of the Lipetsk special economic zone.

The US has invested over $510 mio in the development of the Lipetsk Region economy. 

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