The president of Kabardino-Balkaria has ordered the authorized fund of the republic's agency of investment and development to be increased, as well as the number of implemented projects.
The head of the agency, Timur Makhov, said that the agency had provided 176 million rubles for the organization of enterprises and assisted in obtaining tax benefits for the properties of 7 new enterprises.
At the meeting of the board of directors, where the president made his declaration, the new investment projects that can be realized in 2011 were discussed. Kanokov said that businessmen can expect an interest rate of 10-15%.
He emphasized that the republic needs at least 10 billion rubles of credits for new enterprises.
Among the investment projects of the agency are: expansion of the products of ‘BT Furniture’ in Baksan, organization of high-efficiency grain processing production in Zolskiy region, expansion of production of the agricultural poultry-breeding holding ‘Baksan broiler’ and construction of a dairy farm on the basis of the agricultural concern ‘Transelbrus’.
Three new projects will be decided on in September, the press-service of the government of Kabardino-Balkaria reported.
