A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 160 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Investors in the Arctic to get federal subsidies

The Government of the Russian Federation published the Resolution adopting the selection rules for the projects to be implemented in Russia’s Arctic Zone. Companies will be able to obtain federal subsidies for capital investment in infrastructure facilities. The document is available on the official website of legal information.

According to the Resolution, in order to receive federal aid investment projects must meet the following requirements: they must be worth at least RUB 300 mln., comply with strategic planning targets and set priorities for social and economic development of Russia’s Arctic Zone. 

“The support the Government renders to large investment projects in the Arctic will benefit both infrastructure upgrade and regional economic development,” explained Anton Kobyakov, Advisor to the President of the Russian Federation.

The project must contribute to “creation or modernization of capital facilities that belong to infrastructure”. Total amount of government support for any given project cannot exceed 20% of the announced private investment. The project must result in new jobs and demonstrate high fiscal performance.     

“Infrastructural support is government aid for building facilities related to electric energy, railway, outdoor gas line, and large motorways. It means investors put money into building a facility and create jobs, while the government provides subsidies for ‘expensive assets’. Infrastructural support proved effective in the Far East. This is why we decided to use the same principle in the Arcrtic. However, prerequisites for this aid in the Arctic will not be as strong, as we do understand that implementing a large project in Yamal-Nenets District takes more than in Amur Region. In the near future, all preparatory procedures will be completed, and we will launch the selection process for the investment projects that potentially can get a federal subsidy in the Arctic,” shared Alexander Kozlov, Minister for the Development of the Far East and Arctic.     

Requirements for legal entities include registration within Russia’s Arctic Zone, no past-due debts or active bankruptcy procedures. The selection will start in the nearest future.

Attracting investment in the Arctic will be one of key topics of the International Arctic Forum in 2021. The Forum business programme will address other issues important for this region’s development, such as creating new technologies, human capital in the Arctic, economic development of the Arctic, rational use of natural resources and the Arctic’s sustainable development. The Forum will be organized by the Roscongress Foundation. For details, please go to the official website of the Forum. 

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