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The Far Eastern city of Khabarovsk was ranked one of the best Russian cities in terms of economic development at the 5th national competition held for the country’s regional centers, a press statement from local administration reported Wednesday.

At the competition, named ‘Zolotoy Rubl’, or ‘The Golden Ruble’, the main criteria for choosing the best cities are triumphant rates of stable economical growth, investment attraction, implementation of advanced technologies, introduction of new lines of production and growth of working places.

Besides displaying all these positive trends, Khabarovsk presented its strategic plan for development scheduled to be fully realized by the year 2010 and the plan added to the city’s victory in the nomination, the statement from Khabarovsk city administration said.

According to the statement, the award ceremony for the winning cities will be held in Moscow November 28.

The competition among Russia’s regional centers has been held by the national corporation for economic development since 2001. The event aims to promote the best experiences in economic development among Russia’s regions, cities and businesses.