The key aim of interaction between the parties was to increase the efficiency of trade and economic and scientific-technical cooperation in the Vladimir Region, create favorable conditions for attracting and protecting investments and implementation of joint investment projects on the territory of the Vladimir Region.

Signing of the memorandum has become a logical continuation of the long-term and fruitful collaboration of the Association with the Vladimir region authorities. The main result of it is successful work of many AEB member companies, which have placed their production facilities in this region, having provided the Vladimir region with a significant number of jobs in such industries as chemical, food-processing, retail, production of building materials etc.

Italian company Ferrero can be mentioned as one of the brightest examples of effective production in the region.

 "The Vladimir region has created attractive conditions for doing business," representatives of Ferrero comment on the choice of the region. -- The tax benefits provided by the current regional legislation motivate companies to make new investments and allow them to channel additional funds into the development of production activities. The regional administration clearly and competently handles requests from businesses and helps resolve arising problems. Availability of the developed infrastructure, available and high quality services, and convenient logistics are also of great importance".

After signing the memorandum the parties noted that they will continue cooperation on a wide range of investment projects in the near future.