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Russian Foreign Minister Sergei Lavrov said on Wednesday that the Kaluga
Russian Foreign Minister Sergei Lavrov said on Wednesday that the Kaluga Region, a center of the Russian automotive industry 100 kilometers southwest of Moscow, continues to attract investment despite the financial crisis.

"The region is in fact seeing a real investment boom. In the past years the amount of foreign investment reached more than $1 billion," Lavrov said at the presentation of the Kaluga Region for foreign investors held at the Russian Foreign Ministry.

The minister said the Kaluga Region was one of the most dynamically developing regions in Russia and a leader in production growth.

"Even today, despite the economic crisis, investors are not losing interest in the region, due in part to the active investment policy of the authorities," he said.

Lavrov stressed that the Kaluga Region has great scientific potential and is due to become a regional nanotechnology center by 2015 under a federal development program.

 

 


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