The X International Forum

Arctic: today and the future

December 10-12, 2020, SAINT PETERSBURG


Investors requested ₽26 billion for the support of Arctic infrastructure


Investors requested ₽26 billion for the support of Arctic infrastructure

The total amount of subsidies, requested by investors for creaing infrastructure for Arcti cprojects is ₽26,6 billion. This was reported by the press service of the Ministry of Economic Development to TASS on Friday.

"The investors are asking for subsidies in the amount of ₽26.6 billion", reported the Ministry.

Totally, the Ministry of Economic Development received applications for support of 13 projects; the total amount of investment is ₽212.5 billion. However, only seven projects meet the criteria and can apply for a subsidy. They will attract ₽187 billion of investment and create 5000 jobs. The Ministry has submitted the lists to the State Commission on Arctic Development, which will make the final decision on project support.

According to the laws approved by the President, any entrepreneur registered in the Arctic, who is ready to implement a new investment project or open a new type of business and invest at least ₽1 million, will be able to obtain the resident status in the Arctic zone of Russia, which implies tax benefits and non-tax preferences.

Investors, who will invest at least ₽300 million, can apply for a non-refundable subsidy for infrastructure in the amount of up to 20% of their investments.

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