Economy
In 1996, Kaliningrad was designated a Special Economic Zone. Manufacturers based there get tax and customs duty breaks on the goods they send back to Russia. Although corruption was an early deterrent, that policy means the region is now a manufacturing hub. One in three televisions in Russia is made in Kaliningrad, and it is home to Cadillac, Hummer and BMW related car plants. Currently, Kaliningrad's major industries are manufacturing, shipping, fishing and amber products. Moscow has declared it will turn the region into "the Russian Hong Kong".
The European Commission provides funds for business projects under its special programme for Kaliningrad. The region has begun to see increasing trade with the countries of the EU as well as increasing economic growth and rising industrial output. With an average GDP growth of more than 10% per year for three years to 2007, Kaliningrad is growing faster than any other region in Russia, even outstripping the success of its EU neighbours.
Read more about this topic: Kaliningrad
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)