Kaluga authorities are preparing to take further steps to liberalize the legislation governing investment in the region. Alongside perks such as tax breaks on profits and local municipal exemptions on transportation taxes that already exist in the region, the regional authorities intend to introduce new exemptions on property taxes. “Right now the maximum effective period for the exemptions is four years, the same conditions that other regions offer to investors,” explained Mr. Lyubimov. “We are planning to introduce an exemption period of 12 years with a sliding scale that will depend on the volume of investment.”

To overcome differences in social and economic development of territories and improve investment infrastructure the regional government established the Agency of Regional Development.

Thus we may say that in Kaluga Region, a range of factors coincide, creating favorable conditions for development. And “…the main impetus for further economic development is free business development. The authorities must create favorable conditions for it,” underlined Anatoly Artamonov in interview with BSR.