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7 September 2018, 14:11

LPR increases number of business entities by 8 percent over year to more than 52,000 - minister

LUGANSK, September 7 (Lugansk Media Centre) - The number of business entities in the Lugansk People’s Republic has increased by 8 percent since September 2017 to exceed 52,000, LPR Economic Development Minister Elena Kostenko said at the 3rd Economic Forum in Lugansk on Friday.

“The number of registered economic entities has increased by more than 8 percent to exceed 52,000,” Kostenko said.

The 2nd Economic Forum the Republic hosted in 2017 gave an additional impulse to its development, she added.

“For example, the processing industry sales have grown by 2.3 times. We had big problems in machine building a year ago, but today the volume has increased by 68 percent,” the minister said.

Kostenko noted that the industry still had many problems and imbalances which had to be solved.

Earlier on Friday, LPR Council of Ministers chairman Sergei Kozlov said that more than ten foreign delegations were taking part in the 3rd Economic Forum.

Head of the Economic Development Ministry’s Department for Foreign Trade Regulation Stanislav Duplenko said last month that that potential investors from the Middle East and European countries would take part in the 3rd Economic Forum in the LPR.

The 2nd Economic Forum which Lugansk hosted September 1, 2017 gathered more than 400 experts and business people. In 2016, LPR held an economic forum within the framework of National Economic Achievements Exhibition (VDNKh) where more than ten cooperation agreements were signed.

More than 100 leadings LPR and DPR companies in various branches of the economy are expected to participate in National Economic Achievements Exhibition 2018 due to open at Lugansk’s Avangard Stadium at 10:00 on September 8, the Economic Development Ministry said.

LuganskMediaCentre — 07 September — Lugansk