Fitch Ratings analysts about the Novosibirsk region investment attractiveness

Fitch Ratings analysts about the Novosibirsk region investment attractivenessFitch Ratings analysts visited the Novosibirsk region on April 10-11, 2012 within the annual activities for a comprehensive assessment of the region, the press service of the Novosibirsk Region says. Meeting was preceded by the preparation of analytical and reference materials and documents necessary for a comprehensive assessment of the Novosibirsk region ability to the full and timely implementation of the debt, taking into account possible economic changes and socio-political situation.

Fitch Ratings representatives visited the sites and companies that are the centers of innovation and economic development growth: Technopark of Novosibirsk Akademgorodok, NEVZ-Union Holding JSC, and Expocentre of Novosibirsk International Exhibition Complex. During the familiarization with the potential and possibilities of the Industrial and Logistics Park experts visited LIOTEH LLC - Russia's largest manufacturer of lithium - ion batteries.

The Novosibirsk region has a fairly good rating - BB - Constantine Anglichanov, the director of Fitch Ratings’ International and Regional Finance Company said. - During our visit, the governing body of the region presented us the particulars of working with investors. What we have seen left a good impression – there is still a positive trend in increasing investment attractiveness.

There are no significant natural resources in the area, that does not imply the presence of large enterprises and taxpayers involved in their production. However, regional authorities are trying to fully utilize such resource as an advantageous geographical location, relying on the development of transport and logistics. At the same time, a lot of attention paid to the development of traditional manufacturing industries. Regional government aimed at further diversifying and developing of the tax base.

The GRP increases by 5% per year, while operating income increased by 13% in 2011 in comparison with the previous year - Constantine Anglichanov said.