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The investment potential of the housing and communal services of Russia is 500 billion rubles annually - the deputy head of the Ministry of Construction

The investment potential of the housing and communal services sector in Russia is 500 billion rubles annually, and the efficiency growth potential reaches 40%. According to the press service of the Ministry of Construction, the Deputy Minister of Construction and Housing and Communal Services of the Russian Federation Andrei Chibis said this at the 75 session of the Committee on Housing and Land Management of the UN Economic Commission for Europe.

He told the meeting participants about the measures to attract private investment in housing and communal services, which are being implemented in Russia today, noting that, according to the decree of the President of the Russian Federation, attracting private investment in housing and communal services is a state priority. “We have created legislation that is comfortable for business: lately, 94 normative legal acts have been adopted in this area, including 10 federal laws focused on the favorable work of entrepreneurship in housing and communal services,” Chibis explained.

The deputy head of the Ministry of Construction also said that Russia is switching to long-term tariff regulation. At the same time, the state has laid down in the tariff 5% of the protected entrepreneurial profit. The concession legislation has been seriously improved. “In order for the new legislation to bear fruit, a number of tools are starting to work, including the Center for Public-Private Partnership in Housing and Utilities, the Guide to the Most Effective Technologies, and the State Information System for Housing and Utilities. The regions are obliged by the end of 2014 to adopt road maps for the development of housing and communal services in accordance with the form approved by the Ministry of Construction. In addition, no later than 2016, all ineffective municipal unitary enterprises and state unitary enterprises will be transferred to a concession, ”said Andrey Chibis.

"Already, in 31 regions of Russia, more than 70 large-scale investment projects in housing and communal services are being implemented for a total of 227 billion rubles," the Ministry of Construction said.

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