Investor Presentaiton

Foreword Ryazan Oblast, a region located only about 200 kilometers south of Moscow, is the focus of this paper, prepared by Professor Leonid Vardomskiy, Head of the Center for CIS Countries at the Institute of International Economic and Political Studies in Moscow. Ryazan Oblast belongs to the group of the so-called "Red Belt" regions. These are characterized by the fact that members of the communist party control political life and that the economy shows major difficulties in adapt- ing to the new global challenges that emerged after the end of the Soviet Union. The conditions prevailing in Ryazan Oblast for taking an active part in mod- ernization and globalization trends are not favorable. We see a relatively high rate of unemployment and poverty. Against the background of a steady decline in living standard and of an ongoing economic crisis over the last ten years, struc- tural reforms and integration into the world economy do not figure highly on the political agenda of the Ryazan Oblast authorities. Anti-globalization sentiments are noticeable not only in the political but also in the cultural and religious spheres. The authorities of Ryazan Oblast were the first to introduce a law restricting the activities of foreign religious groups in their region. Socio-economic development of Ryazan Oblast is very much affected by the vicinity to the city of Moscow, which is the most globalized area of the Russian Federation. The comparison of Ryazan and Moscow, the first an economically undeveloped, poor agrarian region, the latter leading in terms of concentration of financial and human capital and development of infrastructure and services, speaks for the dramatic disparity of territorial development within Russia even between neighboring territories. Ryazan Oblast lies in the shadow of Moscow, and the influence of the financial and economic capital can be felt expanding into this region and shaping economic life to a considerable degree. Labor relations,

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