Arkhangelsk Region became the third for investment growth rate in the Northwestern Federal District
The investments in the capital assets of the regional companies amounted to RUR 21 bln after the nine months of 2010, it is expected that the final results will reach RUR 34 bln. According to the rating agency Expert RA, the region managed to considerably mitigate the risks for investors in 2010 thus jumping up by 18 points at a time. Taking into account such growth rate the region is ranked the fifth among 83 regions of the country.
During 2009-2010 the authorities actively worked at improving the investment potential of the region. In 2009 a regional law on tax privileges for majors investors was adopted, a follow-up and support procedure for investments projects using a method of "one stop shop" (without any bureaucratic acrimonies) was developed, a committee on investment policy and stimulation of business competition was established. The investment portal of the Arkhangelsk Region has been actively functioning for more than a year and it has already its English version.
As can be seen from the above the unified information space of the Arkhangelsk region in the investment area was created. In 2010 a programme for increasing the investment attractiveness was adopted and the scheme of working relations with the investors finally approved.
Among the future projects to be implemented there is the creation of industrial technological clusters (the sites prepared for the investment project implementation with all utilities such as electricity, heating, water supply). Three project sites are being currently evaluated in Arkhangelsk, Severodvinsk and Velsk.