Tatarstan: Economy on the Right Track
During a visit,
Below is an article written by Anya Ardayeva and published by Channel NewsAsia.
Visiting the region, he said its well-educated population and its truck and aircraft production industries make the outlook promising.
MM Lee received a warm welcome in the Russian
His first stop was the Special Economic Zone of Elabuga, where
According to the agreement signed by
The Zone in Elabuga is established for a 25-year period and business here is expected to focus heavily on car manufacturing.
But in order to become an official resident entitled to tax and customs privileges, Russian and foreign companies have to invest 10 million euros first.
And to attract the amount of investment needed, the Minister Mentor said more market research should be done.
After visiting Elabuga, Mr Lee arrived in
He said: "We have active contacts and there are many innovative ideas, especially in the area of oil processing. Without having a single ton of oil,
"We are now building a number of oil processing plants in Tatarstan and we would like to use their experience and skills in the areas of information technology and banking."
MM Lee said: "I would say that from the one-and-a-half days I've spent here that the outlook is promising. I discovered that you have a well-educated population, you make trucks, you make aircraft and in one year that you've started, you've been able to get things moving and from the quality of work done there, including the buildings and the landscaping, I think the potential is there."
Mr Lee will be discussing his impressions of Tatarstan with senior Russian officials at the 11th International Economic Forum in