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Selection of investment projects for support in the Arctic launched in Russia

Selection of investment projects for support in the Arctic launched in Russia
Photo: pixabay.com

In Russia, the selection of investment projects for implementation on the territory of the Arctic zone, which expect to receive state support for the creation of energy, road or other external infrastructure, has begun. The selection will be carried out by the Ministry of Eastern Development.

According to the press service of the ministry, the projects will be selected by June 1. According to Alexander Kozlov, the head of the Ministry for the Development of the Russian Far East, investors already have an interest in the new instrument of state support. They will need help, since the low infrastructure development in the Arctic remains one of the constraining factors for business development.

Entrepreneurs whose investment projects have been selected will be able to qualify for a subsidy - up to 20% of the declared private investment for the creation of infrastructure. The main selection criteria will be the focus on the socio-economic development of the Arctic and job creation. The total investment in the project, which should be at least 300 million rubles, as well as the need for the creation or modernization of external infrastructure, will be taken into account.

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