Two years ago we implemented in the region the Standard for executive powers of the regional state ensuring favorable investment climate in the region. It aims to make the work of investors in the region as comfortable as possible. In investor’s it means: stability, transparency in the regulation, equal rules and procedures. Therefore, I would define the year of 2012 as time of formation of regional investment space.
On December 25, Magadan State Duma adopted a law “On the investment policy in Magadan region”. In the framework of this law, the system of protection investors’ rights and supporting and stimulating mechanisms of their work at Kolim are identified. The law “On establishing tax rate on revenues of the organizations that realize regional investment project on the territory of Magadan region” grants investors with holidays of five tax periods. And for the next five tax periods a tax rate of 10% is set.
All of us perfectly understand that neither investment privileges nor activity of the regional powers won’t be effective if the investor at the municipal level faces red tape or inaccurate information. In order to make municipalities our reliable partners the Ministry of the economic development, investment policy and innovations of the regional government has drafted an agreement on cooperation of the Government of Magadan region with municipalities to implement a set of measures encouraging local governments to attract investment and increase tax potential.
I, sincerely, thank all of who generates an investment agenda today. The main characters are the investors who will turn financial assets in main funds, workplaces and, of course, production and service. We will be happy to help, colleagues! The government of Magadan region is in your team. We are interested in creating on the Far North- East new productions based on modern technologies and methods of labor organization and changing the structure of production. However, first of all, we are responsible for the creation of favorable conditions for the northerners.
Distance to Moscow
Moscow—Magadan — 7 hours 35 minutes
0.15 million people
6.30% english speaking population
Area of the Region
462,5 thousand sq km
Gross Regional Product₽ 88,49 billion₽ 584,73 thousand per person
Foreign Direct Investment$ 0 million$ 0 per person
Fixed investment₽ 38,35 million₽ 257 061 per person
Unemployment rate3,10 %
Percentage of profitable companies53,80 %
Average cost of living₽ 15 415
Average monthly wage₽ 62 152
Geographical location and climate
95 K people
5,3 K people
- Sea of Okhotsk
|Sunny days||Average annual rainfall|
|Average January temperature||Average July temperature|
|Agricultural period||Snow cover duration|
|3 months||6 months|
- 2295 tonnes
- 18.1 thousand t
- 66.6 thousand t
- 565.5 million t
- Brown coal
- 1600 million t
Fish Resources Fishery Enterprises of Magadan have an annual output of 90 thousand tonnes of goods to the value of 2.9 bn RUB