Business and Economy

Belgorod area population makes 1% of total population of Russia. Herewith the area produces 1% of total country’s industrial output and 23% of gross output of Centralno-Chernozemny region.

Such branches as ferrous metallurgy, engineering, metalworking, construction material production, and food processing industry play leading role.

Vast mineral reserves are discovered and being exploited in Belgorod area. This brings wide opportunities for developing such industry spheres as mining and processing, chemistry, as well as machine-building.

A special attention is paid to iron ore processing and associated sectors, such as integrated use of overburden. Lebedinsky Mining and Processing Plant is the leading company in this area. This institution is listed in Guinness Book of Records being world largest entity of such profile.

Not only area industrial output is applied in Russia but is also exported to 30 countries of the world. The main export component is mining and concentrating branch production as well as metalwork production: metalized pellets, rolled metal of different grades. The area also provides internal and external markets with chalk, quartzite, and sand.

The area parliament adopted a new «Investments in Belgorod Area» act in 1995. This act provided a wide range of benefits attracting Russian and foreign investors. As a result Belgorod area took its stable place among 10 most attractive for investments regions of Russia.

The largest volume of investments in major production facilities building is supplied by metallurgical and power branches. Among the leading Russian capital construction companies there are 10 institutions from Belgorod.

Belgorod area is one of few Russian regions providing its rural economy with large volume of foreign investments. The region holds leading positions in food and agriculture goods production per capita. The area is one of the major Russian market suppliers of wheat, sugar, meat and milk products as well as butter and vegetable oil.