Regional Investment Standard 2.0. FAST TRACK for Investment
Today, the 24 Russian federal subjects with the highest investment attractiveness account for around 93% of all investment. It is therefore crucial that a policy is created to identify the specific factors governing the investment-led development of the regions and create the conditions for investment in the economy of the future. The Regional Investment Standard 2.0 has been developed to achieve this, taking into account the best investment practices accumulated by the Agency for Strategic Initiatives since 2012. The new regional standard is based on best practices established in cooperation between federal subjects and investors, and is compiled in such a way that all regions meet the minimum set of requirements for attracting investment. Moreover, the Fast Track investment project support system, which is being implemented in Russia’s regions, has been designed to create a convenient and rapid mechanism for launching and supporting investment projects. At its core is a mechanism for identifying the shortest and most convenient customer journey from project concept to business result for every entrepreneur in every region of the country. The programme includes the creation of an investment policy statement, an investment map, a set of investment rules for Russian federal subjects, and standards to ensure the availability of infrastructure. How will the creation and implementation of a single support system for investment projects in the regions affect regional attractiveness to investors? To what extent will the new investment standards simplify project implementation and help to synchronize cooperation between government agencies and investors?