MIL OSI Translation. Region: Russian Federation –
In 2021, the investment declaration standards are planned to be introduced in seven pilot regions: Voronezh, Sakhalin, Moscow, Nizhny Novgorod and Tula, Novgorod, Chelyabinsk regions.
First Deputy Prime Minister Andrei Belousov held a meeting on the development and implementation of the investment declaration standard for the constituent entity of the Russian Federation. This work is being carried out in pursuance of the President’s Address to the Federal Assembly.
Andrey Belousov instructed by the end of July to prepare guidelines for the development of an investment declaration and send them to the pilot regions. The Ministry of Economic Development was instructed to involve the business community and the Agency for Strategic Initiatives in the development of the standard.
“The subjects must adopt the relevant regulatory legal acts and launch the declaration into operation by October 30,” he stressed.
The First Deputy Prime Minister also noted that the investment declaration represents the region’s commitment to the investor. It is created for a fixed period during which it remains unchanged.
The declaration, in particular, should include an appeal by the governor with a general description of investment goals, key characteristics of the region, investment priorities with reference to a specific territory, a description of the investment strategy (the order of implementation of priorities), investment potential, a team of specialists, as well as support measures and direct contacts … The investment declaration must comply with regional legislation, given that the rules differ from entity to entity.
According to First Deputy Minister of Economic Development Andrei Ivanov, the purpose of the document is to declare investment opportunities and clearly formulate the prospects for the development of the region, taking into account the investment strategy and competitive advantages. It is important that the team that is responsible for a large investment project in the region has experience and competence in the field of investment, he said.
“One of the key objectives of the project is to establish trust between the investor and the state,” stressed the first deputy head of the Ministry of Economic Development.
“The investment declaration will spell out clear and understandable rules for the implementation of investment projects and guaranteed support measures,” confirmed the Governor of the Sakhalin Region, Chairman of the State Council Commission for the Investment Direction Valery Limarenko. “Business will see where and on what conditions it can invest its funds, and can be sure that there is no risk in this. Of course, the implementation of the investment declaration is of fundamental importance for us. A large package of investment projects has been formed in the region, and we are interested in making business comfortable to work in the region, ”he said.
“We support the introduction of unified and transparent rules for the work of all participants in the investment process. The Chelyabinsk Region is ready to enter the list of pilot regions where five components of the investment standard are being implemented. We have all the necessary conditions for this. A set of investment rules and an investment map have been developed, an investment council is working on an ongoing basis, as well as a center for support of investment projects in the “one window” mode. The fifth component – the investment declaration – is being updated according to the methodology of the Ministry of Economic Development “, – commented the Governor of the Chelyabinsk Region Alexei Teksler during the meeting.
“In the Nizhny Novgorod region, continuous work is underway to improve the conditions for doing business. The institution of investment commissioners is functioning, a special economic zone “Kulibin” and TASED have been created, there is a continuous dialogue with entrepreneurs, and infrastructural restrictions for new projects are being lifted. An “Investor’s Guide” and an investment portal have been created in the region, the basic structure and content of which correspond to the idea of the investment declaration standard being created. We are ready to develop an investment declaration on time. I am sure this work will be useful both for us and for investors, ”said Gleb Nikitin, Governor of the Nizhny Novgorod Region.
Vice-Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov noted that the experience of the capital, which in 2014 for the first time published the brochure “Time to Invest in Moscow”, was included in the investment declaration standard. “It reflects the support measures available to investors in the region, the mechanisms of interaction between the city and business, the potential and advantages of the region for investors. The introduction of such documents has a positive effect on the investment climate in the region and contributes to the growth of private investments, ”he said.
The investment declaration is one of the tracks within the framework of the creation of a unified mechanism for supporting investments in the regions. It includes an interactive investment map and a set of investment rules describing specific step-by-step algorithms for solving typical investor problems. Investment committees will also be created to communicate with business and development agencies responsible for promoting each specific project in the constituent entity of the Russian Federation. Implementation plans have been developed for each of these areas.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.