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
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
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
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