Republic of Tatarstan
The Republic of Tatarstan is proud to be one of the most economically developed regions of the Russian Federation, and one of the most rapidly developing. The republic has a population of 3.8 million and boasted 1.520 trillion rubles (43.7 billion USD) of Gross Regional Product in 2013, more than triple the GRP of 483 billion rubles posted in 2005. The republic attracted 894 million USD of foreign investment in 2013, of which 408 million was FDI.
Tatarstan’s strategic location in the heart of Russia is a strong contributing factor to its economic success. Equally important is the republic’s richness in natural resources, around which a strong industrial foundation has been built. The backbone of Tatarstan’s economy has been and continues to be heavy industry – energy, petrochemical, automobile production, manufacturing of synthetic rubber, tires, polyethylene, helicopters, aircrafts, compressors, river & sea vessels, and electric & radio engineering.
The republic has identified eight priority sectors for investment: chemical & petrochemical, machinery & automotive parts production, construction & building materials production, medicine & pharmaceuticals, IT & telecommunications, agriculture & food processing, halal industry, service industry & tourism.
The Government of the Republic of Tatarstan plays a linchpin role in establishing the republic’s strong investment climate. In 2011, the republic founded the Tatarstan Investment Development Agency, a special executive body of the government to carry out investment promotion and facilitation. TIDA is responsible for all international investment and business projects in the Republic of Tatarstan.
In a word, TIDA is a one stop center that helps bridge the gap between Tatarstan officials and investors.
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