LPR is promising region, investors are welcome – Economic Development Ministry
The Lugansk People’s Republic is a promising region awaiting both domestic and external investors, LPR Economic Development Minister Svetlana Podlipayeva said at the St Petersburg International Economic Forum.
“As a new Russian region, we’re interested in expanding our economic and international ties,” Podlipayeva told the Lugansk Media Center. "The Russian parliament is finalizing the law on a free economic zone, which will offer more preferences and incentives to investors."
Of course, all investors are welcome both from Russian regions and other countries, and certainly domestic investors. “We have good prospects, plenty of mineral resources and a good labor potential; we have industries that are awaiting investors, I believe they’re poised for immediate start,” she said.
Agriculture is one of such sectors. The Republic is rich in fertile farmland with broad crop raising and cattle breeding opportunities, the LPR minister said.
The State Duma lower house of the Russian parliament earlier approved the first reading of the government-proposed laws to create a free economic zone in the Donbass Republics and Zaporozhye and Kherson regions.
The Lugansk Refrigeration Plant and the Yunis aluminum radiator manufacturer are representing the Lugansk People’s Republic at the Petersburg economic forum on June 14-17.
The Lugansk People’s Republic, Donetsk People’s Republic and Zaporozhye and Kherson regions acceded to Russia on September 30, 2022 following the unification referenda. *i*ie