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Foreign investment in central Russia's Kaluga Region increased
Foreign investment in central Russia's Kaluga Region increased 300% in 2008 year-on-year, reaching around $1 billion, a spokesman for the regional economics ministry said on Tuesday.

"Even the global financial crisis has not affected the eagerness of major investors to invest in the Kaluga Region. No one has abandoned their project plans," the spokesman said.

In September, Samsung Electronics launched a TV set production plant in the region. A Volkswagen assembly plant has also been operating in Kaluga for more than a year, the spokesman also noted.

Sweden's Volvo Trucks plans to begin production at a new assembly plant in the region in January 2009. France's Peugeot-Citroen has also started building a car factory, due to be launched in 2010, in the Kaluga Region.

 


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