Economy of Chuvashia
The State Council of the republic has passed a number of laws aimed at encouraging business activity in Chuvashia.
One-third of this sum is transferred to the Russian Federation and two-thirds are contributed to the Chuvash budget (this is called the Republican portion).
The most significant industrial sectors in Chuvashia include electronics and machine building, electrical energy, chemical manufacturing, and food processing.
Its military work focuses on aircraft electronics, and it specializes in airborne computers, navigation systems, and air control devices.
Promtraktor is the only plant in the Commonwealth of Independent States (CIS) manufacturing powerful tracked and wheeled industrial tractors, bulldozers, lift trucks, and pipelayers.
The vehicles are powered by technology similar to Caterpillar, and their products are used for large volume excavation in a wide variety of industry sectors.
Specific products include tracks, tractor underframe components, iron and steel castings and forgings, transmission and engine parts, and other instruments.
The factory has direct ties with companies in Italy, China, England, Germany, Poland, Greece, Lithuania, and Latvia.
The company, which has representation in Europe, the Middle East, Asia and Latin America, exports products to 35 countries around the world.
Other branches of agriculture important in Chuvashia include grain and potato growing and cattle and pig breeding.
Himprom is the largest exporter in Chuvashia, has ties to countries all over Europe and the Americas, and has been actively involved in the creation of joint ventures.
Exports accounted for $60.4 million (an increase of 3%), with the leading products being organic and inorganic chemicals, electronic equipment, and electrical measuring instruments.
Chuvashia is rapidly upgrading it communications facilities to meet world standards and has a very well developed energy generation and distribution network As in most regions of Russia, phone lines remain the most common form of telecommunication.
The republic's telephone company, ChuvashSvazinform (JSC), provides all major telecom services to its customers, and it is a simple matter to make direct calls to most places in and outside of Russia.
This project has already made substantial progress, and the quality of the digital network in Cheboksary and Novocheboksarsk meets international standards for high-speed video and data transmission.
Additionally, there are a number of local companies actively developing software including web site creation services.
Due to the Cheboksary hydroelectric power station on the Volga River, Chuvashia is a net exporter of electricity.
This station, run by Chuvashenergo (the Chuvash affiliate of United Energy Systems), provides all of Chuvashia's electricity and supplies surrounding regions with power.
The people of the republic are also its greatest asset, as they are served by five higher educational institutions and 28 colleges and technical schools which are currently training approximately 45,000 students.
Therefore, due to the high average education level and low costs, the Chuvash workforce has a significant competitive advantage over other areas of the world.
The Chamber of Commerce and Industry of the Chuvash Republic [www.tppchr.ru] would be happy to assist foreign businesspeople with their travel arrangements.
