21 April 2003, 03:07

Priorities of regional economic policy in Rostov Region

The industrial policy of the regional administration is aimed at solution of problems of structural rearrangement and reforming of companies in market conditions. Methods of its implementation are state support from the funds of the regional budget of the companies of types of ownership producing competitive products, granting credit privileges, prolongation of tax payment periods. The administration of the region also strives for allocation of funds from the federal budget for support of crisis branches and branch complexes in coal industry, defence industry, light industry, atomic power engineering. The solution of problems of restructuring of the coal branch is in many respects hampered by the fact that these are the problems of the whole country. The power supply problems exist not only due to poor financing of construction of power supply plants, but also due to "Chernobyl syndrome" - resistance to construction of the second unit of Rostov nuclear power station on the part of environment protection movements. Another option is under consideration - creation of new heat power stations working on local gas. In the meantime, the shortage of electric power prevents development of the industry and hinders general economic growth.

The prospective economic development trends of the region have been defined:

processing industry branches and food industry;

construction complex;

production of high-technology production on the basis of regional scientific centres and defence industry plants (helicopters, amphibian aircraft, optical instruments);

creation of car assembly companies like TagAZ at free facilities of large plants of agricultural engineering with preservation of their main production (agricultural combine harvesters) and participation of foreign investors;

Besides, in 1999 the efforts of the Government of Rostov Region were aimed at:

development of power mechanical engineering and production of equipment for oil and gas production in joint-stock company "EMK Atommash";

production of new models of passenger electric locomotives in Novocherkassk and universal machines at Donetsk excavator plant;

expansion of car assembly for commercial production of cars in Taganrog. According to the data for the 1st part of 1999 Taganrog car factory produced two modifications of Dewoo cars: about 4 thousand of Dewoo Espero and 2 thousand of Dewoo Leganza (the company supplies this model to the market under its own trademark "Doninvest-Kondor");

providing state support to OAO "Donskoy Tabak";

approval of development Programme of food-processing industry in the region.

Source: I.G. Kosikov, L.S. Kosikova. North Caucasia: Social and Economic Reference Book

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