Vladimir Putin recognized Krasnodar Territory’s efforts on attracting investments

The Russian President held a working meeting with Governor Veniamin Kondratyev as part of his visit to Krasnodar.

The region, as stated by the Russian leader, is stable overall and making good progress, with solid indicators in almost all fields.

«I see that your investment figures are very good. Is it in infrastructure, industry and agriculture?» - Vladimir Putin clarified.

The Kuban Governor announced that regions, manufacturers, and businesses now have access to the country’s domestic market. The opportunity to develop capacity and facilitate domestic sales, along with significant support measures, is a vital component of development. According to Veniamin Kondratyev, the investment component is also important — 7 industrial parks have been built in the region and 7 are still under construction.

«You have 291 loans in the industry at an annual interest rate of 0.1–4%», emphasized Vladimir Putin.

The head of Krasnodar Territory has confirmed that the regional Industrial Development Fund provided loans of over 7 billion rubles for upgrading production facilities.

«I keep your resolution, where I asked you to create the Industrial Development Fund, and here it is. At the beginning, the amount was between 100–500 million, and now it has reached 7.1 billion rubles. With this money, enterprises were financially boosted and upgraded to a more advanced level. The primary goal of the Fund is not to make money, but rather to invest in upgraded enterprises that create jobs and generate tax revenue. That is why we keep the rate up to 4 percent, because it is important for the development of the economy», said Veniamin Kondratyev.

At the end of 2023, as the governor noted, the volume of industrial products sold amounted to 1.8 trillion rubles. Over the past five years, the volume of Kuban industrial shipments has increased by 45%.

The President stressed the significance of investing in the rapidly growing resort sector.

«Investments in the health resort industry have grown incredibly, from 17.6 billion to almost half a trillion rubles», emphasized Vladimir Putin.

Veniamin Kondratyev thanked the head of state for support in this field.

«On your instruction we banned the construction of housing in the 500-meter zone from the sea. Developers began to sell land to hoteliers at an affordable price. Ever since the implementation of this regional legislation in 2020, there has been a 20-fold surge in investments towards hotel and lodging development. In the region, 48 investment projects worth more than 500 billion rubles are being implemented. So, we will get approximately 30,000 additional rooms. This result is crucial for the health resort sector, as it is a key contributor to our region's economy and plays a significant role in the country's health resort industry», added Veniamin Kondratyev.

In 2023, the Krasnodar Territory welcomed a record-breaking 18.6 million visitors, and there are still more to come. According to Veniamin Kondratyev, the reason why people repeatedly visit the year-round health resort in our region is not because it is their only choice, but because of the top-notch quality of their vacation experience here. Realizing the potential of 4 and 5-star hotels, investors are showing great interest in investing in these projects.