Investment Portal of the Arctic Zone of the Russian Federation

Aleksey Chekunkov gives a report during a meeting of the State Duma Committee on the Development of the Russian Far East and the Arctic

Aleksey Chekunkov, Minister for the Development of the Russian Far East and the Arctic, took part in the meeting of the State Duma Committee on the Development of the Russian Far East and the Arctic.

19 October 2021

One of the key topics on the agenda of the renewed committee's first meeting was the draft federal law 'On the federal budget for 2022 and the planning period of 2023 and 2024'.

According to the minister, RUB 34.6 billion will be allocated for the implementation of the state programme for the development of the Far Eastern Federal District in 2022, RUB 34 billion – in 2023, RUB 31.4 billion – in 2024. An additional RUB 57.5 billion from the reserve will be used to support the programme in 2022–2024.

According to the minister, the funds will be used to implement social programmes, create a competitive business environment in the Russian Far East that is necessary for the rapid development of the economy and the social sector and ensure an inflow of investments into local projects.

The ministry is planning to allocate RUB 9.2 billion in 2022 and RUB 261 million in 2023 for the implementation of social development plans of the centres of economic growth in Russia's Far Eastern Federal District, including the completion of social objects that are currently in progress, creation of infrastructure objects and improvement of public spaces.

It has also been proposed to increase the volume of funds for subsidising the interest rates for residents of Advanced Special Economic Zones (ASEZs) and the Free Port of Vladivostok, due to the high demand for these instruments among the investors.

The measures aimed at accelerated development of the Russian Far East are set to execute the Russian President's decree on the Far Eastern Federal District achieving the national target growth rates that exceed the national average.

The total amount of funds allocated for the state programme for the development of the Arctic is RUB 8.1 billion in 2022, RUB 7.5 billion in 2023 and RUB 5.9 billion in 2024.

The programme's priority objectives include ensuring accessibility and quality of life for the residents of the AZRF, infrastructure support for new investment projects, attracting investment in projects in the Arctic zone of the Russian Federation, implementing social programmes and projects. Additional funds under other state programmes will also be required to organise regular transport along the North Sea Route, implement recreation and health improvement programmes for children of the Arctic, provide state support for indigenous peoples of the North and partially reimburse the costs of establishing and modernising greenhouse complexes.


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