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Arctic Development Programme to be edited soon

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The Ministry of Economic Development reported about the growing interest of the European and American Companies in Russian Special Economic Zones, says the Deputy Minister of Economic Development Alexander Tsybulsky.

According to him, the Ministry plans to reconsider business tax benefits and develop a bill, which will regulate the preferences according to the economic potential of regions. Besides, Mr. Tsybulsky informed that the amount of financing could be 12bn RUB, instead of previously planned 209bn.

“Unfortunately, we don’t have any strategies to regulate the efficiency of the tools applied for the development. We don’t even correspond the region with its real social and economic state. For instance, let us consider Moscow and Karelia Republic. These are two opposite territories in the context of social and economic development. That is what I stand for. We need to differentiate the tools applied in regions. In Moscow, investors are to take advantage of a smaller package of subsidies. But in Karelia, we need to support them – provide infrastructure, concessional lending, perhaps, direct funds”, says Mr. Tsybulsky.

He also dwelled upon the new edition of Arctic development programme. According to him, the list of measures has been prioritized. Final decision regarding the volume of funds has not been formed yet. But as it was informed previously, it could be reduced from 209.7bn to 50.9bn RUB.

“We don’t expect the reduction. The current edition of the state programme is just analytical. In fact, the volume of funds can be increased by 12bn RUB in the coming 3 years, and by 190bn RUB till 2025”, also stated Alexander Tsybulsky.

According to him, some measures cannot be supported, because of lack of the required documents.

“For example, these are the measures connected with IT. They need extra revising. It is more feasible to implement, for instance, the construction of nuclear power icebreakers within the State programme «Development of nuclear energy industrial complex”.

Source: Bi-Port


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