Penza, 21 December 2015. PenzaNews. The business in the current condition particularly needs state support in terms of tax preferences and financial subsidies, said the Penza region governor Ivan Belozertsev in his investment address on Monday, December 21.

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“In 2015, businessmen and agricultural producers received over 3 billion rubles from regional and federal budgets. On that point, I would like to thank the deputies of the Legislative Assembly for realizing the need and providing support to this important and necessary field,” he said.

“We initiated tax breaks for small enterprises, helping beginner businessmen to increase their turnout volume and improve financial stability. We signed investment agreements with ‘Bashmakovsky Khleb’ [for vegetable-growing facilities and logistics centers] and ‘Pachelmskoye Khozyaystvo’ [for a dairy farming complex of 4,600 cows in Arshinovka village of the Nizhny Lomov area]. Under the agreements, the investors received property tax discounts,” the governor reminded.

The current most important objective for the Penza region is to reduce import dependency through developing its own production, he added.

“The regional ‘Program of Investment Development and Production Increase in the Penza Region for 2015-2017’ requires achieving the target figures in import replacement production with regards of succeeding our investment projects. I instruct the regional government to update this regional program with requirements of federal ministries in mind,” Ivan Belozertsev said.

“In my discussions with businessmen, I time and time again realize that many have no knowledge of state support measures available in the region. Ministries and departments have to actively inform business communities using such means as local newspapers, the media and social networks, tell people about types and forms of state support, tax benefits and preferences,” he added.