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.

Governor of Magadan region
Vladimir Pechenyy
 
  • Administrative center

    Magadan

  • Federal district

    Far Eastern

  • Distance to Moscow

    5889 km

    Moscow—Magadan — 7 hours 35 minutes

  • Timezone

    UTC+12/MSK+8

  • Population

    0.15 million people

    6.30% english speaking population

  • Area of the Region

    462,5 thousand sq km

 

Economic performance

  • 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 rate

    3,10 %
  • Percentage of profitable companies

    53,80 %
  • Average cost of living

    15 415
  • Average monthly wage

    62 152
Gross Regional Product
GRP per capita
Foreign Direct Investment
Fixed investment
Fixed investment per capita
Unemployment rate
Average monthly wage
Percentage of profitable companies

Geographical location and climate

Largest cities

  •  

    Magadan

    95 K people

  •  

    Susuman

    5,3 K people

 

Seas

  • Sea of Okhotsk
 
Sunny days Average annual rainfall
45 534 mm
Average January temperature Average July temperature
-17°С 11,2°С
Agricultural period Snow cover duration
3 months 6 months
Natural area
Forest-tundra
Taiga
Tundra
 

Natural resources

  • Mineral resources

    Gold
    2295 tonnes
    Silver
    18.1 thousand t
    Tin
    66.6 thousand t
  • Combustible resources

    Coal
    565.5 million t
    Brown coal
    1600 million t
  • Other resources

    Fish Resources Fishery Enterprises of Magadan have an annual output of 90 thousand tonnes of goods to the value of 2.9 bn RUB

    Water resources

 
 

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