Investment Portal of the Arctic Zone of the Russian Federation

Most projects under the Arctic benefits system are related to tourism and services

The preferential regimes established in the Arctic already have 500 residents, most of which are small businesses. The leaders in terms of the number of projects implemented are tourism and service companies.

18 August 2022

The specifics of business development in the AZRF are discussed by Alexander Stotsky, General Director of the Project Office for Arctic Development, with reference to an interview with Yury Trutnev, Deputy Prime Minister of the Russian Federation and Presidential Plenipotentiary Envoy to the Far Eastern Federal District, on Russia-24.

This is significant in light of the development of the Russian Arctic. Small and medium-sized enterprises fulfil an important function in terms of the economic development of remote areas and the integration of northern territories. They form distributed points of growth and create sustainable horizontal economic links at the basic level. This objectively consolidates the foundation of the AZRF economy, increasing its ability to adapt — and to create profits.

Another key mission of small business is social. It is of particular relevance in the polar regions. According to the Deputy Prime Minister, it is necessary to raise the standard of living of people for the development of the macro-region, otherwise 'no investment projects, no scientific research will be able to be implemented in full.' Yury Trutnev is convinced that the rotational method that many people work in the Arctic is not a method that can work for a long time in the economy. The Russian Arctic must be a territory of permanent human habitation.


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