The number of Special Economic Zone residents in Russia's Arctic zone is expected to double by 2030
Their number will reach up to 1,500.
5 June 2024By 2030, the number of residents under the preferential regime in the Arctic zone of the Russian Federation is expected to double to 1,500. The development of the North Sea Route is expected to drive growth, Nikolay Zapryagaev, CEO of the Far East and Arctic Development Corporation (FEDC), told TASS.
'By 2030, we aim to at least double this number. Why "at least"? Because the Arctic is a unique area. It appears inaccessible and complex, yet it offers opportunities,' stated Zapryagaev.
Currently, about 800 residents operate within the AZRF.
He added that the Far East and Arctic Development Corporation anticipates further development plans for the North Sea Route, as it already stimulates not only the Arctic regions but the entire country. 'The North Sea Route will give a certain impetus to the power industry, mining projects. There are substantial reasons to further accelerate our engagement with investors,' noted Zapryagaev.
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