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The President began the conversation by noting that, according to official documents, the overall situation in the Ivanovo Region is stable. Vladimir Putin also pointed out that 40 percent of the region’s GDP comes from small and medium-sized businesses, which is almost twice the nationwide average, and from good investment projects, including in the region’s core textile industry.

Stanislav Voskresensky confirmed that in 2019–2020, the region boasted the fastest growing investment rate among the regions of the Central Federal District. As a result, in 2021, industrial production grew by almost 9 percent. One of the local projects is launching the country’s biggest knitted fabric factory in history as it reaches full capacity. Russian knitwear production will increase by one-third. Currently, 75 percent of all knitted fabric facilities are concentrated in the Ivanovo Region.

It is important because Western garment brands are leaving and talented entrepreneurs from different regions are striving to take their place with quality designs. They need guaranteed supplies of locally produced fabrics. The investor is already seeking to expand the project. Realising the opening opportunities, another investor is building a similar knitted fabric factory nearby. While earlier, investors mostly focused on sales, now they are becoming involved in production.

Mr Voskresensky also reported that, after repaying regional budget debts to commercial banks in late 2021, for the first time in 20 years, the Ivanovo Region has no debt to commercial banks. The available funds are spent on important social programmes, such as renovation of 65 older kindergartens, especially in small towns.

The Governor said that small towns require special attention. There are beautiful towns in the region but they are in need of care on a full scale. Therefore, a centre for small town research will be opened in the beautiful city of Shuya. The Governor asked for support from the President, stressing that the request is for verbal approval rather than funding. Vladimir Putin said that he fully approves the project.