Penza, 18 January 2016. PenzaNews. The Ministry of Investment Development and Foreign Trade of the Penza region will be eliminated, in accordance with a regional government decree signed by the governor Ivan Belozertsev.

© PenzaNewsBuy the photo

According to the document made available to PenzaNews agency, the solution aims to improve effectiveness of regional state executive bodies.

The Ministry of Economy of the Penza region will be taking over the functions of the to-be-eliminated Ministry.

In addition, the head of the region signed a decree to rename the Ministry of Industry, Business Development, Innovative Policy and Information Support of the Penza region into the Ministry of Industry, Transportation, Innovative Policy and Information Support.

Thus, the Ministry of Economy will take over the functions to develop a unified strategy to strengthen the Penza region business sector of economy, define priorities and ways of development of the relevant fields, formerly executed by the Ministry of Industry.