Rustam Minnikhanov: About nine billion US dollars foreign investments have been attracted to Tatarstan over the past seven years

On November 23, speaking at a plenary meeting of the Russia-Austria Business Council at the IT-Park in Kazan, Tatarstan President Rustam Minnikhanov said that Tatarstan attaches great importance to cooperation with Austria aimed at strengthening and developing relations between Russia and Austria.

Welcoming participants of the meeting, Minnikhanov noted that the geopolitical situation and sanctions have a negative impact on the economy of Russia and Tatarstan in particular.

"Despite the difficulties, investments are flowing in, foreign businesses continue its activities in our republic," Tatarstan President said. He added that the republic plans to end the year with a 3-3.5 per cent gross regional product growth.

Minnikhanov stressed that Tatarstan is open for mutually beneficial cooperation and focuses on creating the most comfortable conditions for investors. He added that the republic has topped the national rating of the investment climate of Russian regions for the third year in a row.

"Foreign companies have long been working successfully in Tatarstan. They know its strengths and weaknesses, see the dynamics. About nine billion US dollars of foreign investments have been attracted to the republic over the past seven years," Tatarstan President said.

The republic is actively interacting with such Austrian companies as Wienerberger, Swarovski, Red Bull and others. "We are open for contacts and will be happy to find new opportunities for cooperation," Minnikhanov continued .

During the meeting, a General agreement for cooperation between the Kazan Tupolev National Research Technical University and AVL List GmbH was signed in the presence of Tatarstan President.