10 years ago our city was reopened for foreigners

Nizhny Novgorod railway

Nizhny Novgorod was reopened for foreigners10 years ago. The local transportation infrastructure, which includes an international airport, powerful passenger and cargo river ports and a multifunctional railroad junction, has made it possible to put into practice the idea of extending a transnational European transportation corridor to Nizhny Novgorod, thus enhancing the city's investment image. The city has reclaimed its past, its historical name and the status of an economic center. It has been transformed, as it used to be called Gorky and no foreigner could arrive here. It used to be a city of top-secret factories, design bureaus and research institutes. It was the center of a region that would produce the most advanced weapons and military hardware, including air-raid radio electronics, interceptor fighters, titanium nuclear submarines, hovercrafts and A-and H-bombs.

Any proof of how developed the local hi-tech companies were would be redundant. The above articles required an adequate level of process equipment and the top-quality workforce. The Nizhny Novgorod region still possesses this scientific wealth and production expertise. It still remains in the vanguard of contemporary science and holds on to the reputation of a "test bed of daring economic experiments" and an industrial spearhead.

The city has created a favorable investment climate. The regional legislators have passed important laws on private investment guarantees and the reasonable government monitoring of foreign trade activity. The introduction of free economic zones that grant tax benefits to investment project participants has enhanced the region's generally positive image for investors. There are more than 100 businesses in the region that operate on foreign capital. Foreign money has also contributed to the implementation of a number of large projects. Coca-Cola Inchcape has helped open a soft drink facility. Deutsche Lufthansa AG has opened its representative office in Nizhny Novgorod and is regularly flying to and out of the city. McDonald's has planted several restaurants here. Cooperation between Italy's Fiat and GAZ has led to the establishment of Nizhegorodmotors, a Fiat car assembly JV.

The European Bank of Reconstraction and Development`s subsidiaries have been actively operating in Nizhny novgorod. Some are engaged in the crediting of small and medium-sized businesses. The Swiss Entrepreneurship Support Fund has been successfully running its local department, Swisscontact.

Nizhny Novgorod has seven twin cities throughout the world. Relative agreements do contribute to lasting friendship between cities and their respective countries.

Signing the co-operation agreement of the three cities. Mayors Juri Lebedev of Nizhni Novgorod (left), Jarmo Rantanen of Tampere and Wolfgang Reiniger of Essen.

By the materials of book "Anniversary Nizhny"