At the moment, Vologda Region is carrying out a number of strategic projects on the private-public partnership basis. One of the largest projects is establishment of The Sheksna Industrial Park, the only economic-technological development area in the region. The industrial park encourages the development of industries and businesses capable of realizing high-technology projects, adoption of breakthrough technologies and producing new sorts of competitive high value added products.
The Sheksna Industrial Park is located on the crossroads of all kinds of transport communications (federal railroads and highways, Volga-Baltic waterway and Europe-Asia air corridor) and close to the main North-European gas pipeline and transmission facilities.
Within the network of the industrial park it is planned to develop the following activities: metal processing, high-tech timber processing, car components production, construction.
Vologda remains a challenging environment for foreign investors. At present, there are over 200 companies with foreign capital in the region. Most of these companies were co-founded with Finnish, Swedish, Czech, Swiss, German, and American companies.
Many foreign firms with a long-term presence in Russia are reporting healthy returns and stepping up investments. In terms of accumulated investments the European Bank for Reconstruction and Development (EBRD) is among large investor-funds working on the Vologda market.
In December 2009, a high-tech power plant was put into operation in Krasavino, Vologda Region. It is a joint project of Vologda regional Government and PSG-International, a.s (Czech Republic) with the financial support of the Czech Export Bank. Total project cost is EUR 78.29 mln. The project aims to achieve the successful energy supply of the eastern regions of the Vologda land.
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