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Arctic: today and the future

December 10-12, 2020, SAINT PETERSBURG

First applications for the Arctic preferences have been approved


First applications for the Arctic preferences have been approved

The Ministry of Economic Development has approved the first five applications for the resident status of the Russian Arctic Zone. Within 10 days, these companies will be listed in the register and will be able to receive relevant benefits, announced the press service of the Ministry on Thursday. 

In the end of the August, a package of federal laws came into force. Right after that the Ministry of Economic Development began to accept applications from companies for resident status, which gives the right to receive benefits.

“The Commission of the Ministry of Development of the Far East and the Arctic has considered and approved the application of the first five investors, which will be included in the register of residents of the Arctic zone of Russia within ten days,”, says the report.

Alexander Krutikov, Deputy Head of the Ministry of Economic Developmen, has noted that two applications were received from the Arkhangelsk and Murmansk regions, another one was from the Yamalo-Nenets Autonomous District. “The volume of investments in the amount of ₽15.8 billion has been announced for these five projects and 552 workplaces are planned to be created”, he added.

“The implementation of all five investment projects under the new economic regime supported by all the members of the Commission. The initiators will be included in the register of the Arctic residents within 10 days, and will be able to take advantage of all the benefits and preferences”, said the press-service of the ministry.

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