Passed: Economic Mission to Nizhny Novgorod

03 October, 2011

06 October, 2011

Nizhny Novgorod, Russia

Passed: Economic Mission to Nizhny Novgorod

The mission will focus on business-to-business meetings, jointly organized by the Luxembourg Chamber of Commerce, the Belgian-Luxembourg Chamber of Commerce for Russia and Belarus, and the Chamber of Commerce and Industry of Nizhny Novgorod. These meetings will be supplemented by exclusive events such as a meeting with engineers and management of the LUKOIL refinery which processes more than 16 million tons of oil stock used for the production of more than two million tons of automobile gasoline of several varieties. The participants will also visit the 16th International Industrial and Economic Forum and Exhibition “Russia United”, as well as specific seminars that will allow to get a comprehensive understanding of the potential of the Russian regions in the fields of communication, plastic & chemistry and oil & gas.

Owing to a sustained Soviet era program to develop heavy industries, Nizhny Novgorod is home to a number of engineering industries such as: a large automotive industry, shipbuilding, aircraft manufacturing and machine tools manufacturing. The region ranks seventh in Russia in industrial output, while the processing industry predominates in the local economy. Industry generates 83% of the regional GDP and makes 89% of all material expenditures.

The fastest expanding sector, however, is the information technology industry. Intel Corporation was one of the first companies to start working in Nizhny Novgorod and outside of Moscow. Among the more prominent companies to have a presence in the region is Symantec through a local joint venture. Talent pool and cost arbitrage are two of the biggest factors that are attracting investment into Nizhny Novgorod, which is said to offer excellent value for money, compared to other emerging markets. The low cost of infrastructure, including cheaper real estate and low cost housing is seen as a major benefit.

This is a unique opportunity to promote your company in Russia, to identify new partnerships and to expand your existing client base.

For further details on this event kindly contact Mrs. Diana Rutledge from the International Department at the Chamber of Commerce. e-mail: diana.rutledge@cc.lu or international@cc.lu

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Passed: Economic Mission to Nizhny Novgorod

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