Almost 300 investment projects launched in Russian Arctic

Almost 300 investment projects launched in Russian Arctic

October 11, 2021

The Russian Arctic is becoming more and more attractive to investors. This is evidenced by the statistics presented in the Federation Council.

#ARCTIC. #SIBERIA. THIS IS TAIMYR. Yury Trutnev, deputy prime minister of the Russian Government and plenipotentiary of the president in the Far Eastern Federal District, noted that low population density and harsh climatic conditions create a number of obstacles in the development of the Arctic part of Russia and improving the quality of people’s life. At the same time, he is sure, the region also has a number of advantages, such as significant reserves of natural gas, oil, platinum, copper and titanium.

One of those who received the Arctic resident status in Norilsk was the Horizon suburban recreation complex

“Oil and gas fields in the Yamal-Nenets and Nenets autonomous districts, nickel deposits in Norilsk are the largest not only in Russia, but also in the world. More than 20 percent of Russian export are formed on the territory of the Arctic zone”, said Yury Trutnev.

He recalled that in February 2019, president Vladimir Putin made a decision, according to which the development of the Arctic passed into the competence of the Ministry for the Development of the Russian Far East, and the state commission for the development of the region was reorganized.

Another Arctic resident is Murmansk airport. It is building a new terminal for domestic flights, which will increase passenger traffic (maquette)

“A system of preferences has been created in the Arctic to ensure the accelerated economic development of the region. Using the experience of working in the Far East, we have made this system differentiated according to various types of economic activity, which means we’ve made it more effective”, stressed Yury Trutnev.

Since 2020, the first investment projects have been implemented under the new preferential regimes in the Arctic. Today there are already 294 of them. At the same time, the volume of investments under the agreements is 1.1 trillion rubles. Most of these projects are being implemented in de facto uninhabited areas.

We add that the Arctic zone of Russia is located on the territory of nine subjects, including the Krasnoyarsk region. Four of them enter the zone completely, and five – partially. The area of ​​the region is 4.8 million square kilometers, or 28 percent of the country’s territory. The Arctic is home to 2.6 million people, or 1.7 percent of the total population of Russia.

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Text: Mikhail Tuaev, Photo: Nikolay Shchipko, Olga Polyanskaya,

October 11, 2021

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