18 October 2012, Thursday, 14:47

Fortune tells about Bashkiria

author: Alik Shakirov

Business magazine “Fortune”, issued in the USA, published a series of materials about Bashkortostan – one of the most rapidly developing regions of Russia.

“While Russia re-emerges itself as economic superpower, the main focus is laid on its capital – Moscow. Nonetheless the most dramatic changes appear and new opportunities arise in its provinces” – said in the article, called “This Republic is ready for take-off”.

“Republic of Bashkortostan is considered one of the richest in reserves of mineral resources and crude oil. Other resources consist of timber (one third of its territory is covered with forests), natural gas, coal, ferrous and non-ferrous metals. No surprise that Bashkortostan, located between Volga and Ural Mountains and in approximate proximity to Moscow, for a long time considered one of industrially developed regions. The President of Bashkortostan Rustem Khamitov, appointed in 2010, sets his sights on the Republic, which becomes one of the players on the global arena — a magnet for foreign investments and room engine for national economics. “I’d like to position Bashkortostan as a Russian region, being economically flexible and ready to attract and absorb at least 10 billion USD as investments” – the head of the region says.

The President RB has conducted political changes that allowed attracting more than 6 billion USD last year. Since then other branches of industry are also developed quite stably, especially in oil mining, machine building and, what is especially important, in refining. As a result the Republic represents the engine for economic growth on all Russian European territories and one of its biggest industrial centers.

Fortune is a well-known business magazine, issued by the US Company “Time Inc”. It is founded by Henry Lewis in 1930 as a publishing business and included Time, Life, Fortune and Sports Illustrated and later became a consortium Time Warner. In 2000 AOL has merged Time Warner, becoming the biggest media conglomerate. Business magazine “Forbes” is the main rival of “Fortune”. “Fortune” is especially well-known with its annual rating of corporate incomes. Its circulation is 850 thousand copies and it is issued once in two weeks. The magazine is published in Boston, (Massachusetts).

themes: mass-media