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Resolution of March 30, 2021 No. 484


Resolution of March 30, 2021 No. 484

A comprehensive program for the socio-economic development of the Arctic zone will start operating in Russia. The decree on this was signed by the Chairman of the Government Mikhail Mishustin.

About 15 billion rubles will be allocated to implement the provisions of the document in the next three years, of which this year – almost 3.5 billion. Among the goals of the state program is to increase the economic contribution of the Arctic zone to the Russian economy, ensure sustainable development of the region, and attract new investors.

It is planned to achieve this by removing infrastructural restrictions, unlocking the potential of priority development territories offering special conditions for doing business, improving state support instruments, including those related to the status of a resident of the Arctic zone.

Among the innovations of the state program are measures aimed at helping the indigenous peoples of the North, Siberia, and the Far East living in the Arctic zone of Russia.

As Mikhail Mishustin noted at a meeting with Deputy Prime Ministers, the implementation of the program will create tens of thousands of new jobs and increase people’s incomes, provide business support in the implementation of promising projects and attract investors and qualified specialists to the Arctic regions, and ensure an inflow of private capital in volumes that many times exceed public investments.

The document was adopted as a continuation of the Strategy for the Development of the Arctic Zone, approved by Russian President Vladimir Putin in October 2020.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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