The Ministry for the Development of the Russian Far East issued an order
On the selection of investment projects to be implemented on the territory of
the Arctic zone of the Russian Federation dated 10 April 2020.
The ministry will be reviewing the projects over the period from 15 April to 1 June.
«Implementation
of investment projects in the Arctic, as well as state support for these
initiatives, will secure sustainable development of the region,» said Adviser
to the President of the Russian Federation and Executive Secretary of the Arctic: Territory of Dialogue International
Arctic Forum Organizing Committee Anton Kobyakov.
On 18 March,
the Government of the Russian Federation issued a decree
On the rules for selection of
investment projects to be implemented on the territory of the Arctic zone of
the Russian Federation. Now companies will be able to receive a federal
subsidy for capital investment in infrastructure. According to the document, the
total amount of state support for a proposed project should not exceed 20% of
declared private investment for its implementation. Investment project should create
new jobs and demonstrate high budget effectiveness.
«Starting
15 April, we are launching the selection of investment projects to be implemented on the territory of the Arctic zone.
Federal subsidies will help them create electric power facilities, railway infrastructure,
outdoor gas line, major motorways. Due to the state support, the region will enjoy
not only massive modernization of infrastructure, but also new jobs and, in a
longer term, improvement of socioeconomic indicators in general. We are adapting
the experience of the Far Eastern region, which is showing excellent results
and high efficiency, to specific needs of the Arctic region, In June, we will
present the list of investment projects that will receive a subsidy to be
implemented in the Arctic,» said
Minister for the Development of
the Russian Far East Alexander Kozlov.
Attracting investment to the Arctic will be one of key
topics of the International Arctic Forum business programme. The Forum will be held
in 2021, and its agenda will also touch upon new technologies, development
of human capital under Arctic
conditions, economy of development, environmentally sound resource management,
and sustainable development of the Arctic zone. The Forum is organized by the Roscongress
Foundation. For more information, please visit the Forums official website.