A presentation of the economic potential of Nizhny Tagil was held at the Russian Expo Arms - 2002 underway near the city. According to the press service of the administration of the Sverdlovsk Region, the event was attended by Semyon Barkov, the Minister of Industry of the region, Valery Bok, Head Manager of the Administrative Mining District, and the directors of Nizhny Tagil's large companies.
According to Nikolai Didenko, Nizhny Tagil's Mayor, in 2002, the city will observe its 280th anniversary. The Mayor believes the city has changed a lot. It used to be a limited admission area, 70% of all its factories and plants outputting war-related products. However, beginning early 1990s, the city became open to international entrepreneurship. At this time, there are over 3,000 companies there, 43 of them rating as large. The city's economy is growing stably. Over the past two years, the total industrial output grew by a factor of 2.5 and in 2002 increased by 43% on the year'.
Semyon Barkov, the Minister of Industry of the Sverdlovsk region, said, 'The international arms exhibition will add to the quickly improving investment climate in the city. Nizhny Tagil has a powerful industrial potential. The Staratel testing grounds, in the meantime, will become the venue of Interpol's police games. As soon as in 2003, Rush, a new comfortable hotel will open'.
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