VEB.RF’s Chairman Igor Shuvalov and the Ulyanovsk Region’s Governor Sergey Morozov met in Moscow to discuss cooperation prospects.

Igor Shuvalov spoke about VEB.RF’s capability to implement new projects in the region in partnership with other federal development institutions: Russian Small and Medium Business Corporation, DOM.RF and Russian Export Center.

VEB.RF’s Chairman suggested that the development institutions should set up a business mission in the Ulyanovsk Region to examine the region’s investment potential and select promising projects that are in the focus of participants’ attention.

“The Ulyanovsk Region has a favourable investment climate; its economy is growing. VEB.RF is willing to support new industrial projects. You are good partners, and we are ready to work with you,” Igor Shuvalov said.

The parties also agreed on a pilot project to establish liaison between federal and regional development institutions to promote investment projects and strategic initiatives. Ulyanovsk Region Development Corporation, together with other regional institutions, will also be involved in this process. Such a form of cooperation may then be replicated in other Russian regions.

Joint support for high-technology projects and digital infrastructure development is another promising area of cooperation. Ulyanovsk has become a pioneer in this initiative by participating in a technology transfer venture fund to be established by VEB Innovations.

In the Ulyanovsk Region, VEB backed a project to set up an industrial production facility for composite components and machinery. The facility is in commercial operation, with various research and development work presently under way.

Currently, VEB.RF Group has a number of urban economy projects under consideration, including renewing the local bus fleet, leasing municipal equipment, and constructing heat supply and water treatment facilities in Ulyanovsk.