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The first five residents of the Russian Arctic zone were selected

The Commission of Ministry for the Development of the Russian Far East and Arctic considered and approved the applications submitted by the first five investors, who will be entered in the register of residents of the Russian Arctic zone within ten days.

10 2020

The meeting of the Commission of the Ministry for the Development of the Russian Far East and Arctic for the consideration of the applications concerning the entry into agreements on investment activities in the Russian Arctic zone and the documents attached thereto was held online by the head of the commission, Aleksandr Krutikov, Deputy Minister for the Development of the Russian Far East and Arctic. He stated that the federal law establishing the procedure for submitting the applications became effective on 28 August. According to the Deputy Minister, currently, six potential residents of the Russian Arctic zone applied; five of them were considered by the commission.

'The investments under these five projects amount to RUB 15.8 bn; according to the plans, 552 jobs will be created. We received two applications each from the Arkhangelsk Region and the Murmansk Region and one from the Yamalo-Nenets Autonomous District', said Aleksandr Krutikov.

He added that since the meetings of the commissions are still a new practice, in his opinion it is imperative to invite to them not only the members of the commission, who represent the Ministry for the Development of the Russian Far East and Arctic, development institutions, the Arctic regions, but also the investors themselves, so that, in addition to considering the application itself, it is possible to immediately clarify what kind of assistance is needed in the implementation of the project. For this reason, in addition to the Ministry employees, the representatives of the Far East Development Corporation, the administration of the Yamalo-Nenets Autonomous District, of the Arkhangelsk Region and of the Murmansk Region, the heads of the investor companies participated in the event as well.

The implementation of all five investment projects within the framework of the new economic regime of the Russian Arctic Zone was unanimously supported by the commission; within ten days, their initiators will be entered in the register of residents of the Russian Arctic zone, and from that moment they will be able to take advantage of all benefits and preferences.

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