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Putin presented a draft system of preferences for business in the Arctic zone

Putin presented a draft system of preferences for business in the Arctic zone
Photo: Kremlin.ru
On the portal kremlin.ru The transcript of the meeting between Russian President Vladimir Putin and Deputy Prime Minister-Plenipotentiary of the President of Russia in the Far Eastern Federal District Yuri Trutnev and the head of the Ministry of Eastern Development Alexander Kozlov was published. EastRussia publishes a short synopsis of the conversation.

  • There are 2283 projects implemented with state support today. The total volume of investments already made in the territory has exceeded 1,16 trillion rubles. 
  • For every ruble of budgetary investments, there are 22,5 rubles of funds from private investors. 
  • Industry growth rates in 2019 - 6%. At the same time, for five years now, the growth rates of industry and investment in fixed assets in the Far East are 2–2,5 times higher than the average for the Russian Federation.
  • 80 thousand people received plots under the Far Eastern Hectare program. The average term for providing a site is 34 days.
  • 93 billion rubles are invested in the social sphere. 300 objects have already been, more than 200 objects have been reconstructed. 
  • A system of preferences for the Arctic zone has been prepared. Economic projects are divided into 5 groups, each has its own system of preferences, depending on which taxes are sensitive for a given group, for a given production. The system of preferences has been agreed with all companies and federal departments.

The system of preferences in the Arctic will be different from the Far East. There will be no zero incentives, benefits are reduced by about two-thirds of the rate, but payments begin from the first year. "We consulted with companies, they are completely satisfied with it, because the period of benefits is more extended. On the other hand, the territories will immediately begin to receive taxes, that is, there will already be some increase in the budget due to the work of new investment projects," said Yuri Trutnev ...
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